As half-a-million property investors around Australia will tell you, buying an investment property involves much forward planning, unlike the purchase of a family home. While the decision to buy a family home is usually very emotive, buying investment property should be based on a logical and calculated process.
Investors have to remember: ''Family home is a purchase from the heart. An investment property is very much a purchase from the head."
As foreign investors, you need to be aware of the Australian Federal Government's Foreign Investment Policy. In addition, to minimise the risk of getting stuck with a bad investment you may do some research about the area you intend investing in.
· Check local newspapers
· Talk to a real estate agent in the area
· Contact the Local Council and Main Roads Department
· Research the Body Corporate (if applicable)
· Seek financial advice
· Re-evaluate regularly