Buying an Investment Property
Australians love property, and buying an investment property is a strong part of a successful financial plan. With the security of bricks and mortar, backed by the power of leveraging and tax benefits there are some powerful incentives to join the crowd. But make sure you do your research first and find the right type of investment for you. What are your property investment goals? Setting out with an investment objective or goal is key to finding the right property:
- Are you targeting capital growth, rental income or a mixture of both?
- Are you the do-it-yourself (DIY) type seeking a “renovator’s special,” or do you prefer buying a worry-free property that is ready for renters and easily maintained, such as a serviced apartment?
- And will you pay the property off slowly over 30 years through rental income, or seek to sell it quickly when the market peaks?
These questions will help decide your strategy and the ultimate financial outcome. Getting the right advice and understanding your options is vital.
The right property investment in the right location
‘Location, location, location’ are the real estate agent’s eternal bywords and it is crucial to choose the right property, in the right area for your investment strategy. Check the availability of shops, schools, transport and jobs, as well as talking to the council about plans for rezoning or new developments, including new infrastructure such as transport links. Check vacancy rates in your chosen area, since a high vacancy rate may indicate difficulties in attracting renters.
Serviced Apartments as a Property Investment
A good option for many investors is a serviced apartment, particularly one offering secure rental income with no deductions for management fees. Buying a serviced apartment also helps remove the usual frustrations of dealing with repairs and maintenance and the risk of extended vacancy periods or excessive outgoings reducing your returns. Whether you’re looking to invest, exploring the various benefits or would like an update on all our property news, simply register your interest and we’ll tell you everything you need to know.
