If you’re looking to purchase property in 2022, there are some things you should know. We’re in a pretty interesting market at the moment, and while it’s still always best to look local when finding people to help out with your hunt, there are some other factors that should be on your checklist if you want to get things right.
Research The Area
For starters, it’s vital that you research any area you’re considering buying in. So, if you’re looking to create your own haven by the beach in Australia, speak with local builders in Bellarine Peninsula. Meanwhile, if you want to find an apartment in San Francisco, talk to locals before getting your heart set on any one area.
The climate has shifted a lot over the past two years, which means demographics and future projections will have changed accordingly. These factors are equally crucial for owner-occupiers as they are for individuals looking to invest. Shifting demographics can have a significant impact on both the lifestyle options in an area and your potential rental returns.
Consider Future Growth
This applies both to your family and the suburb. For example, if you’re buying as an owner-occupier and would like to have children before moving again, you’ll need to ensure that there’s enough space in your new home to raise a growing family. By the same token, both owner-occupiers and investors benefit greatly when their dwellings appreciate in value, and growth within the suburb can promote this.
Find A Good Advisor
As noted in our introduction, you’re going to want a trained professional on your side in these interesting times. Bonus points if they’re local to the area that you’re searching in, but if this is unachievable, it’s still worth engaging the services of someone who knows the market.
This doesn’t just go for those looking to build either. A good advisor can help you assess properties both for your current circumstances and those that you are likely to encounter in the future. Purchasing a home is a big step, so you’ll want to ensure that you’re going in with your eyes wide open.
Think About Whether You Want Residential Or Commercial
These next two points are for those of you looking to invest. While residential homes will always be in demand, commercial property investment could, in some instances, be a far better option for you when done correctly.
When looking to invest, having the right professionals on your side is even more important than it is for those looking to be owner-occupiers, so always do your research and have someone to back you up with deeper knowledge and their own personal tips and tricks.
Consider A Multipurpose Building
Finally, with workplaces in a state of flux at the moment, it’s worth looking into commercial buildings that can serve multiple purposes. For example, you may wish to invest in a condo in one of the many new buildings throughout the world that have been designed for remote workers.
From Costa Rica to Vietnam, you can find these hybrid residential-commercial buildings everywhere. They feature condos, serviced offices, cafeterias, gyms, and everything else digital nomads need to thrive. The beauty of such a condo is that you can live and work in it whenever you want and rent it out when you wish to travel.
Consider these tips when making your purchasing choices, and you should end up in a much better position than you would have otherwise been. Good luck with the property hunt!