Throughout Australia, many of those who want an additional source of income turn towards property investment. Although investing in property can be a dependable way to make money, much of your success depends on the type of property you choose. While you might pursue the right aesthetics and defining practical features, it’s easy to ignore certain factors that can affect a property’s attractiveness. This, in turn, can negatively affect its value and your ROI.
Negative gearing isn’t a new practice, but it’s gained lots of attention lately due to The Labor Party’s proposed reforms. For those who invest in properties for resale or rental purposes, negative gearing involves making a loss on an investment to attract tax benefits.
When you’re searching for the perfect location for your next investment property, you might assume that choosing a capital city is the safest option. After all, cities such as Sydney and Melbourne are very popular investment locations, and they’ll remain so for years to come. That said, does that mean they’re the only option, or even the smartest option for your next investment property?
No matter how old you are, planning for retirement should be close to the forefront of life planning. When thinking of retirement, most of us want to have enough financial capability so we can relax and enjoy it. We don’t want to think about working again or being a financial burden on current or future children.
So, you’ve decided to enter the property investment market. The good news is, when done right, property investment can be a great way to secure your financial future. Now you ask yourself, “Which should I go for, an apartment or a house?” Knowing which one you should choose is an important step in planning your investment strategy and has a big effect on how successful you’ll be.