By Tim McKibbin, REINSW CEO
Buying a home or an investment property is not an exact science.
We are constantly bombarded with property information and it can be confusing, even if you have purchased a house or investment property previously.
Median and average sale prices in the area you want to buy can help you determine what you should pay for your next property, but there is a lot more you need to know before you make a commitment. You must do your homework.
Attend open houses and auctions in the area you want to buy in and surrounding areas. Talk to agents and follow up on properties that didn’t sell at auction. This will help you determine what specific and comparable properties are selling for (or why they’re not selling), enabling you to make a more informed decision regarding price and location.