Property Investment Tips for First Home Buyers
If you are thinking about investing in real estate for the first time, it's natural to feel a little bit daunted.
Not only are property investment loans different from normal home loans, but you face the pressure of ensuring that your investment is a successful one.
What's important is to realise that no one starts out as an expert and that with a bit of homework and by speaking to the right people, you can successfully manage the transition to being a property investor.
Learn about the market.
No matter where you plan on buying property, you'll need to learn a bit about the local property scene. Just like any other kind of investment, a little bit of context can go a long way to making you confident about your purchase decision.
For instance, if you are considering a move for residential rental property, recent trends in vacancy rates can be a helpful indicator of tenant demand.
Similarly, keeping an eye on new dwelling construction can provide a perspective on the housing supply situation in the area you are considering.
Understand the expenses.
It is crucial to understand the expenses involved in investing in property. These need to be factored in to your calculations.
Things like strata levies, stamp duty fees and council rates may vary depending upon where you choose to buy, so make sure that you are clear on these before going through with your decision.
For rental investment, it is also a good idea to investigate the cost of landlord insurance. This can provide you with financial protection in case of theft, property damage or prolonged vacancy.
Get trusted advice!
For help navigating the sometimes-complex waterways of property investment finance, seek expert property investment loans advice.
Gentry Financial Group can help you to find the right investment loan package for your property objectives.
We can give you excellent guidance through your repayment options and how you can best manage tax and gearing.