The great Aussie dream of financial independence and security, against the current world outlook, is still alive and well. For Western Australian in particular, it may even be in reach for many of us.
Corelogic has named property as being one of the number one asset classes in Australia, and an investment option that is worth your consideration. One of the strongest methods to growing your wealth and securing your financial future is through property investment. Though we see the property market go through fluctuations like any other investment market, much like what we are experiencing now, property has proven to retain value through time. See more here.
Coupled with the current interest rate offers, and attainable property prices, it is no surprise that many are heavily considering this as a viable investment option.
When investing in property there are lots of benefits that can come in turn, check them out now.
An investment property it can provide you with additional income stream to your household. While yes, you have a mortgage on that investment property, you are likely to have the benefit of receiving rental income from a tenant to offset the cost of the mortgage. Once you get started, you can open yourself up to more opportunities further down the track, in the form of a growing investment portfolio. This secondary income doesn't have to be limited to the typical four by two house investment, consider townhouses, apartments, dual occupancies and even commercial leases. It is about finding the right opportunity for you and your circumstances.
Yes, you had to put the work in to lay down the foundation of your investment, through buying and maintaining the property, however, once established, the returns should simply roll in the form of rental income. Unlike your primary income stream, that requires time in hours to receive a wage, your investment property will bring return with minimal involvement.
More reliable than savings
Savings are fantastic, no one will dispute that. However, as individuals, we aren’t always fantastic. Savings can be dipped into for fun, and also for necessity at times. An investment property can potentially bring better yields that than of your savings account. Savings may be a low risk and consistent strategy compared to the fluctuations that can be experienced in property values and tenancies occupancies, however the return is also, typically, much lower.
The Australian Government has introduced over the years a number of benefits to those who choose to invest in property. These include depreciation being able to be claimed back, along with claiming repairs and maintenance as an expense. Along with capital gains exemptions and claiming back of interest paid. It is always critical though to discuss your tax options with a professional who will be able to advise what benefits are available to yourself.
Future wealth opportunities
Hello equity. Investing in property allows you to build on your future wealth by using the value of the property you own to fund the future deposits of your next investments. There are exponential growth opportunities in the property market, however it should always be tackled methodically and with the proper and appropriate guidance of professionals.
Enough of an incentive to get you looking? We thought so. It is important to note that property investment is no minor decision. It is critical to discuss these options with experienced professionals, financial planners<link> and mortgage brokers<link> can guide you through the process and help you understand how to make the most of this move.
If you are ready to jump into the property investment pool, start the conversation with us today.