Deciding to invest in property is a big decision. It is very common for barriers such as; time, money and market knowledge which can stop you from jumping in. However, it does not have to be this way for you.
Why Invest in an Investment Property?
There are many advantages that encourage Australian’s to invest in property. The most common benefits are;
- Increased capital growth
- Rental income (don’t forget there are continued costs of owning a property that will not stop if you don’t have a rental income)
- Potential tax advantages
- Utilising Self Managed Super Funds (SMSF)
How to Invest in your Investment Property?
If you are new to investment here is your 7 step guide to get you started.
Step 1: Finances
Understanding where you stand financially is crucial. You cannot move forward until you are financially stable. This can mean different things to different people but make sure you have the money to invest. iBuildNew clients get access to a trusted professional home loan specialist who works diligently to provide pre-approval and most suitable loan.
Step 2: Budget
Don’t forget all the extra costs of purchasing an investment property. When building a new home as an investment, iBuildNew are here to you help understand the associated costs, as these can quickly add up such as legal and government costs.
Step 3: Goals
What do you want from your investment property? Don’t forget to set an intention for your investment, whether that is to maintain a passive income through renting, or you’re relying on increased capital growth when you sell.
Step 4: Plan
Considering both your finances and goals, you may be able to see a plan coming to life. It is important that this plan includes how you will finance your investment property, your ideal location (though staying flexible is helpful), what you require in terms of number of bedrooms or bathrooms or whether you would like a dual occupancy. When building an investment property this research becomes simple when you use iBuildNew. We offer an independent and free service where you can compare and choose new home designs from volume builders across the country. This becomes useful when you feel overwhelmed by the number of builders and designs out there.
Step 5: Powerful Property Insight
Understanding your market means you can stay ahead of the crowd and get the best deal at the time you are buying. This could mean considering suburbs with the best potential return, where renters are increasing demand or where property prices are increasing due to shifts in demographics. When building a new property as an investment, consider talking to iBuildNew who provide valuable and the most up-to-date information to enable making an informed buying decision.
Step 6: Long Term Return
It is important to know that by investing in property you are making a business decision requiring business information. iBuildNew property reports analyses important data that influences long term growth.
Need Help?
Need help getting started? iBuyNew will point you in the right direction! Whether you are looking for apartments, townhouses or house and land packages, working closely with an iBuyNew property consultant, who understands the market, will help you find something suitable that’s tailored to your needs and requirements. Get in touch with them on 1300 123 463.
1800 184 284
