Investment

Choosing a property wisely can pay dividends in the long run – providing a trouble free, low maintenance second income. However, there are many factors which you should always consider to avoid your investment becoming an expensive mistake. When you look to make such a significant purchase, consider the following factors:

THE LOCATION

Getting the right location is one of the most important factors to consider with any property. A key location, in demand often drives increased equity values in the property through capital gain. Furthermore a key location can also help to attract better quality tenants too, who are generally willing to pay a little more to live in a secure, well connected area.

Ideally, it’s worth considering a property that’s as near to good transportation links, amenities and schools as you can afford. It’ll also help with resale values in the long run.

Don’t forget to think about the pro’s and cons of different location factors – such as being near a busy international airport. It might be ideal for business owners, but not so ideal for families with children. Thinking about who your target market actually is will help you settle on the right area for your market.

Don’t forget that public facilities available nearby, such as hospitals, medical centres, libraries and even post offices are great features to help ensure your property remains easy to market. Close proximity to green spaces such as parks shouldn’t be overlooked at excellent points to consider (especially for people who are fitness conscious) when you come to put your property on the rental market.

THE PROPERTY ITSELF

Getting the right property to fit the right tenant profile is a key consideration. Before you dive into to buy, look at the area and understand a little of its demographics – who actually lives in the area. This is more important that it might initially seem. An example of it is an area that has a strong older demographic, it is more than likely that someone from outside that demographic won’t consider renting your property. If you were aiming to rent in this area, then a property that has long winding staircases probably won’t suit!

Ensure you look at the property for any potential renovations or improvements that might need to be done. It’s always worth getting a professional to check the building for things like rot, termites, leaks, electrical faults, heating issues. Get some advice on how  much these repairs might cost before signing on the dotted line.

A good property is going to be one that has minimal maintenance issues. You might have to do some work yourself, but to increase your returns you want to keep costs down. If the place has recently been rewired or had new appliances fitted – then that would be a big bonus. Also, consider the potential Body Corporate fees you may incur from an apartment. You don’t want your first investment property to be a major renovation project.

THE MARKET

Looking at the market will help you decide what makes a good investment property. If you really wanted a good idea, you could even attend a viewing as a tenant to see how those properties are presented. This will give you a much better idea of what makes an attractive rental property.

We at Anne Street Partners can help you avoid making potentially expensive mistakes in any of these areas – talk to us about how to get your foot onto the property ladder.

 

 

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PROPERTY CAN BE ONE OF THE BEST FORMS OF INVESTMENT

Property can be a lucrative, and in this current economic climate, it is probably one of the best forms of investment.

It is something that can give a good return over time. Buying a property to put on the rental market can give you a healthy second income as well as future investment should you choose to sell the property later.

There are of course many variables and factors to consider, which can be very confusing. But getting these factors right is the key to creating a successful investment.

THINK ABOUT WHAT YOU CAN AFFORD

One of the first things to consider is whether you want to buy a house or an apartment as the prices can vary, you need to remember what you can afford. Do your research and look around the local area where you are thinking of buying property.

DO YOUR RESEARCH

It is always a good idea to try and buy in sought after locations, as it will make your property more desirable and there will be an increase in value – however it can be more expensive from the outset. Location can also have a big affect on your rental income.

Also, remember in attracting tenants, your property needs to be attractive. It’s worth confirming that there are good transport links nearby. This is especially true of new developments outside of the main cities. You might get a larger, more modern property, but the connections could be limited – hindering the ability of the tenant getting to their workplace. Having other amenities and schools nearby is also a definite bonus, as it can help you find the right tenants and may again help you to attract a higher rental income.

Investment in propertyAnother excellent driver of capital growth is infrastructure spending. Infrastructure projects support jobs and population growth.

The areas that benefit from these projects generally perform extremely well as they cater well for future growth and attract more people to the area.

YOUR OWN HOME CAN ASSIST IN FINANCING YOUR INVESTMENT

One of the most popular ways people finance their first property investment is through equity on their own home. It’s a good asset to tap into, helping you to utilise the equity as a deposit. It can also help you expand further in the future, as your next property investment down the line could be financed by equity from your home and your first investment, giving you more options for finance and more capital.

Another factor to consider is depreciation. It’s worth considering a professional quantity surveyor to produce a depreciation schedule for your property to maximize the deduction that can be available to you. This can lead to some significant tax benefits.

LET THE SPECIALISTS DO THE HARD WORK

At Anne Street Partners, our team knows more than a thing or two about Property Investments. We offer a wide range of services to suit you, whether you’re considering getting on the property ladder or are already an established investor. Sometimes getting a plan underway and making it happen can seem daunting. Let our expertise guide you towards making a property investment without the hassle.

Give us a call today and find out more – we’ll tell you everything you need to know about getting your property investment started.

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In this day and age financial planning is so important. But many of us instinctively opt for live for the moment philosophy. We often think of this as a dull subject, but planning your financial future need not be! By doing so you can do something exciting such as travelling or plan further and ensure you have a rewarding retirement.

Financial planning is a process, which essentially is about setting achievable goals. Taking a look at your own financial resources and looking at your financial needs. From here you can make a suitable financial plan. This plan will help you make wise decisions and help you save for those goals you have made. Our team have years of experience in helping people achieve their desired goals, no matter what your situation is.

This planning can have many benefits. It can help you make wise decisions, if done properly, preventing unwise decisions such as spending beyond your means. In the age of consumer credit it is so easy to get off track.

Financial planning has never been so important. With various things going on in your life, it is an invaluable tool at any age. There can be many objectives to financial planning, which can include: –

  • Getting out of Debt – Often this is one reason why people start financial planning. To access their financial situation to be able to fund actual cutting of debt. Often with a simple bit of planning it is possible to ease the burden.
  • Financing Higher Education – A vital moment in life,  saving for a child’s education. With the rising costs of education, this is an important objective.
  • Mortgages – Buying a home is another costly milestone. It is now getting harder to get a mortgage requiring larger deposits. But with some careful financial planning home ownership can still be a reality for many.

Of course there are other reasons for financial planning. You don’t have to wait to get into debt or face difficulties. The old saying prevention is better than cure could be applied too. Put some money aside for expected big purchases, maybe you are considering a major house repair in a few months time or wanting to take a holiday.

Not only can effective financial planning ease the burden but in the long run could save you money and enable you to plan for your retirement.

Financial planning can seem to daunting and you may not always be so sure that you are making the right decision if it is something you have never considered before.

By getting this assistance of a financial services company they can help you every step of the way. Giving you the right advice will help you make profitable decisions about your future.

For more information on financial planning to suit your needs, please give our team a call freephone 134 977 today!

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It’s a big hurdle, stepping onto the property ladder for the first time.It may even seem at first to be a mission impossible. But there are ways that you be make your first home ownership a reality. With some good sound financial advice and some choices you could be on the path to purchasing your first home.

1. Tracking your money

This is a big one. Actually monitoring your expenditure can help you save faster for your new home. This can actually help you record and monitor what you spend and more importantly where you can save money.

2. Look at your bank accounts

Make sure you are maximizing the saving and capital you have so that your bank account can work harder for you. Could there be a bank account that has a higher interest rate?

3. Renting a smaller place

Ask yourself, whether you could afford to rent a smaller place. Spending less on rent while you are saving for your first home, could lower your rental payments and enable you to accelerate your savings quicker.

4. Look at your bills

By simply paying your bills on time, could save you money on charges and other costs. By paying for them through a debit account rather than by credit card will save you even more. Consider a direct method that doesn’t attract an admin fee.

5. Grants

Are there any grants or other schemes to help home owners? There maybe some schemes in your local area that might help you.

6. Loans

Look at loans, make sure that you are getting the best deal. Simply by getting your interest rate down even a fraction could equate to much lower monthly repayment.

7. Taxes

Ask yourself is there any way you could make the tax system work to your advantage. Could you claim some taxes back or pay a lower rate?

8. Budgeting

By planning your finances better, you could be saving a lot of money in the long run. Perhaps you could set yourself a monthly budget, and then stick to it.

9. Saver Accounts

There are many savings schemes out there that can be your savings work harder. With a variety of savings and investment products you could find a way to boost your savings a little more.

10. Stamp Duty

There maybe an actual saving on stamp duty. This would actually help reduce the actual cost of home ownership.

No matter what your needs are with your new home, with a little bit of financial planning and sound financial advice you can get there. Here at Anne Street partners, we can help you every step of the way – from planning your finances to helping you find investment products to suit you.

Give our team a call today and find out more!

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