Having access to the right information when deciding to purchase a property can be the difference between a successful investment decision and a dangerous one. It is often said that knowledge is power. This statement could not be more accurate for property purchasers investing in new or off-the-plan properties.
Property purchasers who seek to educate themselves before buying stand a far greater chance of making a wise and long-term investment decision. A successful property purchase involves finding the right property, at the right time, for the right price. It does not involve guesswork. It involves accurate information.
When reviewing market indicators, researching the location as well as other aspects of a development are important. These include the property itself, the builder and the developer just to name a few.
How to choose a marketing research company
So how do you go about accessing the information required to make a successful property investment? Fortunately there are marketing research companies who specialise in this area.
Below are some aspects to consider before engaging a marketing research team:
- Experience and knowledge: generally the more experienced a research marketer is, the more knowledge they will be able to demonstrate. This will directly affect their understanding of the key market indicators and areas.
- Credibility: it is always wise to examine a marketing researcher company’s track record before you engage them. For example, have they been successful in the past in identifying key markets for growth?
- Stock: diversification is key here. Do they have a wide range of locations, properties, builders and developers to draw from? The broader the sample, the more accurate the data.
- Independent: it is important for the marketing research company to be unbiased. If a company is selling their own stock you should be wary.
Ensure ‘information’ is at the top of your checklist
Given your choice of property has the potential to positively or adversely affect your wealth for a long time to come, it is not a decision to be made lightly.
While there are many factors to consider when making a property investment decision, information gathering and education should be placed near the top of your list as it will go a long way in helping you find the right property, at the right time, for the right price.
At Ishaks, we focus on ensuring that the contract terms for the property you have chosen to invest in are fair and reasonable and not detrimental to you in anyway. Our experience with off the plan acquisitions and house and land packages enables us to provide you with specialized service and advice on what is a very niche and unique method of acquiring property. We encourage you to give our office a call on 1300ISHAKS and one of our specialised team members would be more than happy to assist with your enquiry.