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Investors encouraged to buy site unseen

2

While investors are often wary of buying a property they have never visited, two industry experts believe this is the best way to make savvy investment decisions.

Margaret Lomas, TV presenter and adviser from Destiny, warns first-hand experiences at a property might cloud the investor's judgement.

“Investors who learn how to make good choices based on their research have no need to see what they are about to buy,” she said.

“Seeing an area is not a suitable way to decide if the area is right and very often our preconceived ideas can make us reject perfectly good opportunities.”

In her experience, being at a property creates an emotional reaction that may lead to poor investment decisions.

“All viewing a property and/or area can do is make you emotional,” she said.

Ryan Crawford from Crawford Property Group agreed that decisions should be based on investment potential, rather than appearance.

“It’s not always necessary to view a property prior to purchase,” he said.

“An investment purchase should be based on research and return.”

However, he believes investors might benefit from visiting the local area to get a sense of the community.

“Visiting the town at least once will give you an understanding of the region and its dynamics,” he said.

“Nothing beats having your feet on the ground to get a feel for a town.”

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