Investing in property is a goal for many. In fact, some Australians even opt to purchase to invest before buying their first live-in home as there can be many benefits to owning investment properties.
If you’re wondering whether investing in property is the right path for you, it’s worth understanding the top reasons why it is highly desirable for many Australians.
Let’s take a look at five of the key reasons to choose to invest in property
There are not many investments that can be relied upon like an investment property. While investing in stocks may be high risk, property offers a less volatile and more secure investment option. When you purchase property in Victoria you can be confident that you will make a good return. And the longer you hold on to your property, the greater that return is likely to be.
Depending on your financial situation, your investment property could be relatively low-cost to own — or it may even pay for itself. With rentals in high demand and rents continuing to increase, you could find that the rental income your property brings in covers some, most or even all of the mortgage and property management costs.
As an investment property owner, you can make a passive income through the simple act of ownership. When your rental income covers your mortgage, your property can become your nest egg that could provide an additional income stream — perfect to fund your retirement in the future.
When you own one or more investment properties, there are a range of tax benefits you can access to support you with owning and maintaining your property. For example, your loan interest, maintenance, repairs and property management may be eligible as tax deductions.
It all starts with one. Once you own your first investment property, it becomes much easier to invest in additional properties. The ongoing increase in property value over time combined with your continually decreasing mortgage means you will be creating equity. This can then be leveraged for you to purchase another investment property.
Whether you want to purchase a home to live in or invest in, Fairhaven Homes are built to last and impress over many years to come. Speak to our friendly team about your property goals.
DISCLAIMER:
The information contained in this article is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Fairhaven Homes recommends that you consider whether it is appropriate for your circumstances and that you seek independent legal, financial, and taxation advice before acting on any information in this article.
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