Dee Why / Collaroy Blog

Whether you’ve invested in an older style, two-bedroom apartment in Newport or recently purchased an off-the-plan unit in Narrabeen, there’s nothing you can do to influence interest rates, employment trends and consumer confidence.

As a landlord, macroeconomic drivers are out of your hands. However, there are factors you can control that will ensure decent capital returns and rental income from your investment property.

Start by paying a fair price for a property that is in a good position. Luckily, the Northern Beaches has bucket loads of locations from Manly to Palm Beach that tick the ‘location, location’ box.

Moreover, you don’t need to travel to Western Sydney or the Central Coast to find investment gems valued below $800,000 – you can secure affordable investment properties right here on the prestigious Northern Beaches.

Aesthetic appeal is like money in the bank

An investment property should be visually appealing to tenants and offer desirable features such as a pleasant outlook, proximity to public transport, restaurants and retail strips. If you’re considering a house as an investment, look for properties with flat, manageable gardens and yards. Floorboards and tiles rather than carpet can also make an investment home more appealing to tenants and less costly for them, and you, to maintain.

Consider buying an investment property in an area you are familiar with as it will involve potentially less research time on your part. Start your research by visiting https://www.raineandhorne.com.au/deewhycollaroy.

If you prefer a more direct approach, check recent sale prices with a Raine & Horne Dee Why/Collaroy agent. This expert advice will give you an idea of what you can expect to pay for a property in Dee Why, Collaroy, Beacon Hill, Cromer and surrounding suburbs.

Impact of infrastructure

Many times over, we have seen property prices surge following the announcement of a substantial infrastructure project. We’ve had several such decisions in recent years, with the Northern Beaches Hospital at Frenches Forest a significant boon to property values in Belrose, Forestville, and Frenchs Forest.

Likewise, the revamping of the Dee Why town centre will impact property prices in Dee Why and Collaroy. Moreover, the real long-term benefits to the economy, community, and real estate market kick in when the project is finished.

Less overtly, new property developments or zoning changes also affect the future value of a property.

Landlords can build value too

To enhance ongoing rental returns, be sure to secure good tenants on long-term leases with the help of your Raine & Horne Dee Why/Collaroy property manager.

Then commit to regular maintenance to ensure small repairs don’t transform into hefty expenses. For example, paying a handyman to regularly oil a sun deck could prove a smart move. Ignore this maintenance, and a rotten balcony – which will be costly to replace – not only reduces the value of your investment but also presents a potentially expensive public liability issue.

Besides, the cost of the handyman is a tax-deductible expense, which will somewhat ease the financial hit. To check what you can and can’t deduct, be sure to talk to your accountant.

Enhancing the value of your investment property also involves protecting its value.  This usually means having sufficient landlord insurance cover, planning for taxes and understanding your eligibility for depreciation allowances. It also means keeping good records to limit costs. We’ll talk more next month about getting your tax planning in order as the end of the financial year approaches.

There are more steps that landlords can take to build the value of their investment property, and to find out more, contact Raine & Horne Dee Why Collaroy today on (02) 9971 9000.