For many Australians, when it comes to living arrangements, renting is preferred to the commitment of buying. Good news for those who own an investment property! Investing in property is a viable long term strategy that is very popular in Australia. Whilst the market has seen an incredible surge recently it is not too late to invest. Compare Home Loans to find the product suitable for you, keeping in mind there are some juicy perks of purchasing an investment property. The Newcastle Permanent Building Society offers fantastic packages with competitive interest rates, find out how to secure a Newcastle Permanent Building Society Home Loan – simply follow the link or visit www.newcastlepermanent.com.au today.
The ship hasn’t sailed
If you are thinking about investing, you are already of ahead of the curve. Building personal wealth takes time and some courage but it’s never too late to start. Investing is not about immediate rewards, patience and forward thinking is vital. If you can see a better future, it’s not too late to invest. The property market in Australia has boomed but opportunities to profit still exist.
A sound investment.
Arguably, there are easier ways of making money. Investing in property requires a relatively large outlay and most of the time a loan agreement must be made to finance the purchase. This in some ways works to the investors favour; the property is usually paid mostly with borrowed money, meaning you can start renting immediately without having to save a huge sum. Over the course of the loan tenants will effectively be paying for or in part, the loan repayments.
Give me a break
As an investor buying property you have a very appealing array of tax write offs available to you. If you have chosen a real estate to manage your property you can write off the associated fees. As a landlord you will usually pay for water and council rates, again you can write these costs of at tax time. Perhaps the most enticing perk is the ability to write off interest paid against your home loan. Of course terms and conditions apply and always speak to a financial professional before diving in.
I appreciate you
Property is one of the safest forms on investment. So much so thanks banks are willing to lend 90% of the purchase price because they know that if the loan ends in default the property will retain its value, the can sell it and not lose any money.House prices have sky rocketed in Sydney and as such rental rates have also increased. The earlier you can enter the property market the more time your asset has to appreciate in value. Such is the same with purchasing any property in other parts of the world. In Toronto, condo communities like the Parklawn condominiums would have a steeper price today than a few years ago, but it is still a good investment to start now rather than 3 years from now, for example.
Easy to understand
Another huge benefit of investing in real estate is the access of information and is readability. Many forms of investment seem like numbers in a spreadsheet and it’s hard to picture them as real money in the real world. Factors for an investment properties success are easy to understand, predict and research making property investment an excellent first step in the world of wealth building.
Investing for the future is the best way to ensure financial freedom. As the amount Australian renting is tipped to climb over 50% in the next few years, the opportunity as a landlord to make excellent passive income exists now more than ever. The right location and features with the right home loan can help you achieve your investor dreams today. It is definitely not too late to start investing in property… even in Sydney!