With the housing market booming and rental demand soaring, many retirees are considering property investment as a means to boost their post-retirement income. Before delving into the realm of real estate, it's essential to take into account several important considerations.

Firstly, seeking professional advice from financial advisors and mortgage brokers is essential. They can evaluate your financial capability and assist you in identifying the kind of property that matches your objectives. Additionally, if considering purchasing in a new development, researching the reputation of the developer is crucial to ensure confidence in their work.

Location plays a pivotal role in the success of your investment. Whether it's for future living or purely as an investment, choosing the right location is key. Access to amenities such as transportation, schools, and hospitals is vital for rental yield and capital growth.

Timing is also crucial in property investment. It's recommended to view property as at least an eight-year investment to account for buying and selling costs. Property prices tend to double every ten years, but shorter investment periods may lead to market fluctuations and potential losses.

When considering units as an investment option, opting for smaller blocks with fewer units is advisable. Larger apartment blocks often come with high body corporate fees and maintenance costs, while smaller blocks offer more manageable expenses.

Additionally, it's important to consider other associated costs such as council rates, land tax, maintenance, and vacancy taxes. These expenses should be factored into the overall investment strategy to ensure a realistic assessment of the net rental yield.

Finally, retirees should consider the ownership structure of the property. Using a self-managed super fund may offer tax benefits, while also providing flexibility in accessing funds tied up in the property.

Engaging in property investment during retirement presents an opportunity for financial gain, yet it mandates meticulous research, consulting with professionals, and deliberate evaluation of numerous factors to secure a successful and profitable investment.