According to the Bank of International Settlements, house prices in Australia have increased by 6,556% since the 1960s. This amounts to an impressive average annual growth of 8.1%. Long story short, property investors have certainly made millions through buying and selling property, and that’s before we even take into account the earnings from rental properties.
Investing in property is a great way to diversify your investment portfolio and, when done right, will unlock the doors to a more financially secure future. When you purchase an investment property, you can improve on it through renovations so that you can sell it at a higher price or hold onto the property and rent it out, generating regular income.
Keeping your property looking up to date and attractive is important, whether you’re hoping to sell or rent it out. Potential tenants and buyers are likely to pay more for a property that looks modern and appealing. As such, putting a little money into renovation projects can prove to be a wise investment.
Everyone hopes their loan application process is going to be quick and easy, and for some people it is. They are straightforward applicants—full-time employees working for someone else, and have a 20% deposit or more. However, the majority of the population are not cookie-cutter applicants, and this next client certainly isn’t.
If you’ve bought a property for investment purposes, it’s important to maximise its value so you can make the most out of your investment, whether you’re planning to sell or rent it out.
One of the first things buyers and tenants notice when they’re looking at properties is, of course, how it looks from the outside. Regardless of how attractive a property may be inside, an off-putting exterior gives a bad first impression, and a property that looks good externally will attract more people.
The median house price has gone up yet again and has now reached a whopping $1,000,500 in Sydney and $715,549 in Melbourne. With the rising cost of housing in Australia’s capital cities, it’s becoming increasingly challenging, even unaffordable to get into the property market. Given the recent housing pricing trends, investors and aspiring homeowners have begun looking elsewhere for their next property.