Buying an investment property continues to be one of Australia’s favourite ways to invest. An investment property should be about increasing your wealth and securing your financial future. There is however, a common misconception that property investing always delivers positive returns, while this is true most of the time it certainly isn’t an instant road to riches. You need to keep in mind that how effectively you manage your investment will determine whether or not the investment helps you reach your financial goals. The cost of owning an investment property can be surprisingly low after you take into account your rental income and the tax deductions you’ll be entitled to.

Before you commit to purchasing a property ensure you have taken care of all the finer details to avoid unexpected challenges.  Take a deep breath and examine the following points one more time before taking the plunge:

• Have you had a property investment professional, such as our New Client Consultants inspect the property for their valued opinion on the property’s feasibility as an investment – in relation to location, type of property and tenant demand
• Have you checked sales of similar properties in the area? Understand the market & the dynamics of where you are buying
• Have you checked with your solicitor to check that any extensions or additions were approved at the time of construction?
• Have you had a professional property & pest inspection carried out?
• Have you researched to find out about crime levels, public housing developments, flooding or drainage problems?
• Have you checked noise levels & area presentation at different times of the day and night and is the home attractive to renters?
• Take a long term view to Investing, remember that property is a long-term investment and you should not rely on property prices rising straight away.

If you’d like to get some individual advice on investment and become a property investor or expand your portfolio please feel free to contact our New Client Consultant Angela King on 0408 284 053

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