Lifestyle Changes: What Property Investing is Like in 2022

So much has changed these past couple of years. Accessibility of the things we used to enjoy is not as easy to achieve anymore if we compare it from the pre-pandemic years. And the change isn't just about the way we live our lives. It's the same as the way we do business.

Residential property investors have changed the way they look at properties. In an article on Domain, mortgage broker Justin Doobov of Intelligent Finance says that there has been a massive shift in how buyers look at their ideal homes. Lifestyle and outdoor space have become very important considerations, especially now that working from home is the more attractive option for many. Desirable locations have changed massively as well.

He adds that apartments are no longer as in demand as before. While renting them will still continue, they are not seen as ideal. Homes, as a matter of fact, should be looked into more especially by investors. Experts see that investors should start offering homes with a desirable lifestyle, plus accessibility to outdoor space like a backyard since people are really craving for that environment after working indoors the whole day.

The change in priorities among investors and buyers is opening new doors for new investment strategies. Some go to work two to three times a week, some work from home full-time. An ample space to do work and study is being given priority, as well as flexible and adaptable rooms.

Apartments with facilities attract more buyers now than they were before. Buyers now ask for gyms and pools they can utilize within the vicinity. Many are choosing to use facilities that come with their buildings rather than go elsewhere that are available to the public. Exclusivity is one of the things that people are looking for now in terms of properties and amenities because of the risk of infection due to the COVID-19 virus.

What else should investors take note of?

Budget Realistically

Many were able to save money during the pandemic because of the limitations such as dining out and traveling. Safe to say that a lot of people are swimming in cash nowadays. However, it won’t be too long until these things are back up full-on and everyone is ready to spend that cash again. Porter adds that it’s necessary to consider the fundamentals of good investment rather than think way too much about what regional and holiday markets are offering. For instance, in major markets like Sydney and Melbourne, location has become extremely important. Proximity to beaches and well-to-do areas are more attractive to buyers. Café spots and shops are also looked at carefully.

Tenants are making a huge deal in choosing locations that lean towards their interests. They want properties that are also accessible to the coast, as well as lifestyle amenities.

This year, if you are thinking of investing in property, make sure to do your homework and research as much as you can to get the best bang for your buck.