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Buying interstate

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Q. Is it worth buying property interstate as an investor? What are the best tips for finding the right property from a distance?

A. Limiting yourself to just your home state could limit your potential to increase your capital gains and rental yield if you are not investing in areas with potential growth or demand. It is also a way of diversifying your risk by investing in different locations. There are a number of simple things you can do to limit the risks of buying interstate and improve your chances of buying in a strong market with a lot of potential. 

Do you own research: It is important not to just rely on what others tell you about a property and the area. Selling agents may have a lot of knowledge about the area, but they may only highlight the positives and not reveal all of the negative points. There are a number of different resources you can use to do your own research. Some include: local newspapers, internet searches, property magazines and property reports.

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Mortgage News and Articles

House prices return to more affordable levels in mining towns House prices return to more affordable levels in mining towns

While the end of the mining boom has had a negative impact on property prices, homes in the region have become more affordable Read more

Borrowers should anticipate a possible rate hike Borrowers should anticipate a possible rate hike Some experts advise borrowers to look for a fixed loan that allows extra repayments so that they can whittle down the balance sooner ... Read more

Why choosing the right mortgage is hard for first-home buyers Why choosing the right mortgage is hard for first-home buyers Many feel overwhelmed by the sheer range of products and interest rates on offer, a new survey reveals ... Read more

Mortgage applications drop in second quarter Mortgage applications drop in second quarter This marks the “beginning” of a downward trend, says Equifax executive ... Read more

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