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.
Another 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.