Investing in infrastructure towns such as Karratha can be a risky game. Check out our top three tips to making your purchase go smoothly...
1. Comply with criteria.
As a rule, an infrastructure town worth investing in should have a population of under 30,000 and projects worth $1bn or more. The peak workforce of the town should be around 5-10% of the normal population - ensuring a healthy hike in rentals - and the projects should have approved status.
2. Do your dues.
Due diligence is crucial. Research the projects, find out completion dates and find out the global demand for the commodity that the infrastructure is based upon. You should also investigate vacancy rates in the area, both with houses and available land. The local town council will have this information.
3. Dont buy a dud.
Termites, illegal building and damp are common problems but theyre not ones you want to be buying in to. Make sure you have a full inspection done on the property before you sign any contracts. It might cost you more but it could save you hundreds of dollars in the long run.
Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker
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tweed heads south
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