"Buyers should evaluate the potential rental yield if they plan to let the property. Calculating the annual rental income as a percentage of the purchase price can help determine whether the investment will generate sufficient cash flow. "A good rental yield depends on the area and market conditions, but as a rule of thumb, it should at least cover your bond repayments and other costs," says Goosen.
Investors need to consider their financial position and long-term goals. "Don't overstretch your budget for a property that may not align with your financial or lifestyle aspirations," Goosen advises. "Think about whether the property will still be valuable to you in five or ten years and whether it fits into your broader investment strategy."
By examining these factors, buyers can make informed decisions that go beyond the surface appeal of the asking price. A well-researched property purchase can yield significant returns, making the effort to assess its full potential worthwhile."
By Property24
