Property is one of the most popular investment options in Australia and a great way to build long-term wealth. Purchasing real estate in areas with good capital growth potential and high rental yields have consistently delivered strong investment returns. For first time investors, finding the right property to kickstart your investment journey can be difficult. With so many options available, it’s important to do your research before jumping into the property market. While location is perhaps the most important consideration when buying an investment property, it’s design plays a crucial role, particularly in the eyes of potential buyers or tenants. So what is the best home design to add to your investment portfolio? This guide will provide you with the information you need to choose the best property to suit your long-term investment goals.
Know What Tenants Want
The key to investing in property is to choose a home design that will appeal to the demographic renting in that location. For example, a small unit may be more affordable than a house, but if the local market is largely comprised of families, your investment property won’t attract tenants. Be mindful of choosing a property with features that will appeal to the type of tenant that you want to attract. Remember – the features that you’d appreciate in a home might be different to those of your prospective tenant. For example, a growing family may require a bigger home with a spacious living area, whereas a young, working couple may only be interested in a small studio apartment. Whether it be a granny flat, a duplex, a single storey or double storey house, ensure your property of choice contains useful features that will appeal to your target market. At Meridian Homes, our custom home builders can help you create the perfect property for your investment portfolio. Visit our new Marsden Park display homes and invest in a professionally styled home in one of Australia’s best community-led estates.
Build A Versatile Home
If you choose to build your investment property from scratch, ensure you implement a versatile, livable home design. Creating an aspirational home with a wide appeal will attract potential tenants and minimise long vacancy periods. Consider open, versatile spaces such as large rooms that could be used as an extra bedroom, study space or bathroom to cater for growing families. Other floor plan options could include an additional ensuite or butlers pantry to open up the kitchen and better utilise the space. Our modern home designs feature stunning open floor plans and stylish interiors that cater to all markets. Whether you’re a first time investor looking to start your investment journey or an experienced investor with a well-diversified portfolio, the team at Meridian Homes can help you create the best home design for your investment goals.
Low Maintenance Is Best
Whether you choose to build your next investment property or purchase an existing one, opt for a low maintenance home design. A house with a pool and large exotic garden requires a lot of care and attention, whereas a similar home on a smaller block with a flat, grassed backyard is much easier to maintain. Plant a low maintenance garden and incorporate durable materials such as stone and wood for fixtures and finishes to minimise ongoing maintenance costs.
Another valuable investment tip is to pursue a property with a modern contemporary home design. One of the many benefits of a modern home design is that they provide plenty of natural light, even in the dead of winter. A light-filled house is more energy efficient and can be achieved by installing plenty of windows and skylights. Larger windows are typically situated on the south side of the house to maximise the inflow of natural light and reduce the need for artificial light. Natural light offers a number of unique health benefits including Vitamin D, and is an easy way to attract high-quality tenants.
Maximise The Potential Of The Land
A duplex or dual-occupancy home design makes for an interesting property investment opportunity. In essence, owning a duplex means owning two separate homes on a single block of land. Both dwellings contain their own entrances and amenities and come in a variety of configurations and designs. For an investor, a duplex enables you to maximise the potential of the land and build equity through high investment returns. Renting out both properties will provide you with two income producing assets, generating positive cash flow and high-interest returns over time. For first time investors, a duplex is an attractive investment due to its lower purchasing price, and gives young investors the opportunity to enter the property market and build their investment portfolio.
At Meridian Homes, we are committed to providing good quality homes at affordable prices. Our modern, spacious and welcoming homes are located in some of Australia’s fastest growing estates and provide a fantastic investment. Our experienced team of custom home builders will help you create the best home design for your next investment property. Visit one of our new, Marsden Park display homes or contact our friendly team for more information.