Author: Deciding to invest in property can be daunting, but with thorough research, property investment can prove extremely beneficial to your long-term financial security.
Why invest in property?
Despite the increasing range of options available, property remains one of the most sought after and widely accepted investment opportunities available.
This is because it offers long-term returns with the security of direct ownership.
It also excels in the three key targets for successful investing;
1.Consistent long term growth
2.Reliable rental income
3.Significant taxation deductions
Another key attraction is its familiarity. Most people have at least some knowledge of the home buying process and local property values, which is different to other forms of investment that rely on expert advice and information.
Do your research before buying
Before deciding on a property to buy, do extensive research and obtain competent financial advice so you can be confident you’re not over-exerting your budget.
If your financial advice is positive and you have approval from your bank or lender, you can then start to explore the market.
These tips will help guide you to finding the right investment for you:
◦Choose affordable properties in areas where there is quantifiable rental demand.
◦Keep up-to-date with the main influences on property values and choose one you think will benefit from this trend in the future.
◦Be aware of taxation laws and any recent changes associated with investing.
◦Research property market trends in the areas you are looking to purchase property.
◦Develop a network of contacts in the property sector such as local real estate agents, valuers, financiers and tradesmen.
◦Consider hiring a Rodi buyer’s agent to help you find and secure a property.
◦Develop a long term property investment strategy and stick to it.
For most investors the key objective is long-term financial security. In order to achieve this, you need to have a business-like approach to choosing a property and making sound judgement when selling one.