If you’re thinking of investing in residential property, Australia represents one of the best markets in the world—as long as you do your research and are as careful as possible when choosing the right area to invest in. Yet, there is much more to pay attention to than simply the physical location in property investment. You need to take other factors into consideration before you pull the trigger.
Property investment is big business in Australia. It accounts for 60% of the banking system’s assets, and over half of Australians’ wealth is held in residential concerns. That works out as $6.6 trillion over 9.6 million homes, or a respectable three times the total value of superannuation funds.
Many clients come to see us with the idea that they can make money from property, but they don’t really understand how. If you know the formula, and you get it right, then it’s relatively easy to make money through property investment and often it doesn’t cost very much to do so.
How is that possible? How can you grow your wealth with little initial outlay?
Are you thinking about becoming a property investor? It’s incredibly important to approach buying an investment property in a different way than buying a home. Here are 3 important considerations for anyone looking to invest in property.
Last week the Calla Property Team went to Brisbane for the week. We met with property clients as part of our due diligence and are very pleased to report that we have some more fantastic investment stock for our clients. We visited a number of sites and show rooms ranging from small boutique developments of 20 apartments to full master planned, beautifully landscaped, amenity rich developments. I am very excited to be able to offer this new stock to our valuable clients.
“9 years ago I took the plunge in buying my first Sydney property, a modest 2 bedroom apartment in Alexandria. I remember procrastinating for at least 2 years before I made that decision, thinking I didn’t have enough deposit and coming up with all sorts of excuses. In 2012, I sold the apartment, but I regretted delaying the decision to buy as all my fears back then turned out to be completely unfounded. If you’re looking to buy your first home and you have some doubts, I suggest you talk to the experts to get a different perspective and to demystify potential misconceptions.”
– Chen, aged 40