When you are already happy and settled in your home, it is most likely that investing in a property is next on your list. Investing in a property is a big dream for many Australians. But before jumping into buying the next property you like, it is important that you do your calculations properly to maximise your returns as an investor. You need to have a sound investment strategy to guide you with your decisions. Here at 3Carrots, we are able to help you find great options for your property investment.
Top reasons why investing in property rocks!
- It provides regular rental income. Other investments like shares or stocks can take a while to produce profits and may involve higher risk too. In property, you may enjoy income as soon as it is ready for rental.
- Higher value in the future. Traditionally residential property gains have been good value in the long run since supply is often limited in metro markets, with ongoing higher demand.
- You can enjoy its tax benefits. Some of the expenses associated with owning a property are tax deductible.
- It offers a diverse investment. Australia has property options in different locations and states. This will allow you to choose between property in the city or suburbs, or an apartment or a house.
Things to ask yourself before investing:
- What is my current financial position? Do you think you will still be able to afford the property during the times it’s vacant & no one rents it out?
- What is the quality of the property I can afford? Do you think you can afford property in a location where you can have good tenants and maintain regular long-term rental increases?