Consider these 4 factors before buying a rental property in Hamilton
Here are some factors to consider when looking to invest in Hamilton's property market:
Location: The best areas to invest in Hamilton are generally those close to the central business district, schools, public transport, and amenities. Some of the popular suburbs for investors include Hillcrest, Dinsdale and Frankton.
Property type: Hamilton has a diverse range of properties, from standalone houses to apartments and townhouses. It's important to consider the type of property that will suit your investment strategy, target market, and budget.
Rental yields: Hamilton's rental yields are generally higher than Auckland and Wellington. You should research the average rental yields in different suburbs and compare them to the purchase price to assess the potential return on investment.
Regulations: As a landlord, you need to comply with various regulations and laws related to renting out properties in New Zealand. These include the Residential Tenancies Act, Health and Safety at Work Act, and Building Act. The legislation is constantly being updated and amended and engaging a property management company like Waikato Real Estate will ensure you are right across and up to date with the ever-changing legal landscape.
Ultimately, the best areas to invest in Hamilton as a landlord will depend on your investment goals, budget, and risk appetite. It's important to do your research, seek professional advice, and make an informed decision based on your circumstances.
We would love to discuss your investment goals with you! Call Michelle on 021 0832 1516 or email her on firstname.lastname@example.org