When investing in property, one of the most important details to look at is the property location. The right location has a host of benefits such as more demand and quicker value growth and capital gains over time. It will also be a key factor in determining resale value and can make the property more attractive to tenants if you’re considering a rental property.
The end of the financial year is the best time to take a look at your finances and make solid plans for the future. If you’re disappointed by the amount of tax you’ve just had to pay, investing could be a great option. Thanks to government incentives and tax break schemes, if you had earned $90K and invested in a $470,000 property through Calla Property, you would have net an annual cash gain of $705 for the year. In other words, the government would be giving you $705 to invest in the property!
No, this isn’t a trick question but if you can answer it, you’ll have a better idea of the property you should be investing in.
If you get it right, your renter should pay the bulk of your investment property through rental payments. If you understand the renting population and what they’re attracted to, you’re half way to ensuring your property is rented out regularly and reliably. Different suburbs and regions attract different kinds of renters who will look for different features in a property and location. The kind of renter who is looking for a property in the inner city is likely to want different things than the renter looking for a property in the suburbs. Things like good cafes and funky bars within walking distance, a gym, shopping and public transport close by. However, someone renting in the suburbs, is more likely to have a family, want to be close to good schools, parks and playgrounds and within easy driving distance to shopping malls and employment hubs.
Did you know?
70% of Australian retirees rely on Government subsidies or are living below the poverty line.
I know I do not want to be part of this statistic, living on less than $300 per week (the Australian Aged Pension per couple).
So… what is the solution?
The path to investment property ownership can be long & daunting. Find out the crucial aspects of property investment and how we at Calla Property can help you negotiate those aspects in a hassle free way.