FAQ's - Buying - ParkTrent

FAQ’s – Buying

Buying with ParkTrent – Frequently Asked Questions

It doesn’t matter if you’re buying your first home or adding to an investment property portfolio, you’re going to have questions about the buying process. We’ve answered some of the most common questions that buyers ask us.

Do you have a question? Let us know and we’ll share the answer on this page.

  • Should I buy through an agent or go through a real estate site? Which is better?

    If you’re short on time, or this is your first time buying a home, a buyer’s agent can be useful. They’ll do thorough research on your behalf and will formulate a plan to find you the right property at the right price.

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  • When is the best time to buy a property?

    If you are an investor, the best time to buy is when there are more sellers on the market and buyers are scarce. If you are a home buyer, it is best to buy when you are financially able to and the conditions (interest rates, the market and government benefits) are in your favour.

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  • Is an apartment or house better to buy in today’s market?

    Apartments are very popular with investors. They are also popular with young professionals, who want to live in inner-city locations or regional hubs.

    There are advantages to both apartments and houses, though. It all comes down to your personal circumstances, budget, lifestyle and the motivation behind buying the property.

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  • What yield can I expect from an apartment investment?

    Yield is important for figuring out the estimated return of a property. In some central city areas, apartments are achieving over 6% yield on gross rent. These often also have higher costs associated with them, such as body corporate and council rates.  Most investors look for gross yields of around 5 to 6%.

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  • Do I need a building inspector’s report on the property I buy?

    While you don’t need a report, we strongly urge you get one. A building report will help identify your property’s problem areas. It can also be used in the future to negotiate a better price depending on what needs to be fixed.

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  • What body corporate rates should I expect?

    When you choose to buy an apartment or townhouse, you’ll need to pay a body corporate fee. This fee goes towards the maintenance and upkeep of the entire building. Body corporate fees range in price for a luxury apartment. Body corporate fees are generally reviewed each year and they can increase in price.

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