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Purchasing your first home is a thrilling milestone. There’s nothing quite like the exhilaration of…
Discover simple tips to get started on your property investing journey, including common wealth-creation strategies that may work for you.
Property investment can offer all sorts of benefits – additional income, capital growth, tax deductions, and the list goes on. If you’re considering an investment property purchase, we’ve put together a simple guide to help you get started. Let’s dive in.
Step 1: Formulate an investment strategy
The wonderful thing about property investing is that it opens your world up to different ways to potentially build your wealth.Some common strategies include:
Each strategy comes with its own pros and cons, so it’s a good idea to speak to your financial advisor or accountant about which is right for you.
Step 2: Set your budget
Before you start browsing realestate.com.au, it’s important to understand what you can afford to buy. Some of the costs you’ll need to consider when setting your budget include:Initial costs
Ongoing costs
Step 3: Do your research
The key to buying the right investment property is to spend plenty of time researching.
You’ll want to consider the capital growth potential (the growth in the property’s value) and rental yield (the income the property will generate from the tenants).
These factors are driven by supply and demand, so try to find a property that will be in high demand by tenants and future potential buyers, with good access to amenities nearby.
Speak to us about our complimentary property market reports, which are loaded with useful information.
Step 4: Get a building and pest inspection done
Trust us when we say building and pest inspections are worth the money. The last thing you want is to discover your investment has a structural issue or termites once it’s all yours.
Step 5: Finalise your finance
Luckily this part is relatively straight forward– we’ll line up with the right investment loan for your specific needs.
Ready to get started?
We’re here to provide expert guidance about investment loans and structuring your finance. Talk to us today!
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We can help get you into your new home.
We’ve worked with clients across Australia to access the different first home owner grants (FHOG) as well as the various stamp duty and other concessions that may be available depending on which state you are in. We can talk you through your various options as well as helping you compare things like buying vacant land vs. an established home.
Use our online calculators to work out how much you can borrow, loan repayments, stamp duty and lots more.