Reasons to Buy an Investment Property
Many people love the idea of owning their own home but hate the thought of being the slaves of large mortgages when they are barely in their 30s. If you can relate to this description, then maybe some investment properties may be the better choice for you.
There are a lot of advantages to owning an investment property in Australia. Moreover, if you buy it at a young age, you’ll have even more time to take advantage of all the perks.
Here are some simple but smart reasons why you should go for investment properties before buying your own house.
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It will hack at your housing costs
Here’s some food for thought: you are eligible to receive a loan that will get you a nice and big family home somewhere in a great suburb. The theory sounds nice, but there’s still the issue that you’ll be stuck in the middle of nowhere away from your friends, family, or roommates.
Well, buying investment properties will give you the best out of both worlds: since you’ll still be on the property ladder, you won’t feel your anxiety levels going up whenever the media starts talking about the sudden growth of property prices. Plus, you’ll be able to keep on to your rental lifestyle, and share the cost with your roomies while still living in the centre of everything – because your tenants will be pretty much paying your rent!
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It will give you travel flexibility
We all love to travel. We especially love going on trips on a moment’s notice – and we especially hate giving up a chance. Well, if you get a professional property manager to handle your investment property, you can fly off whenever you want. Just tell them that you won’t be in the country for a while so they’ll know why your email replies may be late.
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You’ll have the opportunity to buy out of state
The good thing about buying investment properties is that you won’t be forced to be tied down to a location. Actually, if you buy your first property out of the state, you may build a lot of equity pretty fast, and you’ll get your money’s worth and more. Regardless of where it is, the smartest move will be to invest in a location that is most likely to be appreciated.
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You can learn by jumping in
Sometimes, the hardest step is the first: the one that forces us to take action. Not all property investors have the guts to take this leap, but those that do will definitely reap the benefits of their decision.
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You maximise your tax advantages
There are a lot of juicy benefits for investment properties when it comes to taxes. If you maximise your tax advantages, you can say goodbye to debt and hello to healthy cash flow – especially if you are barely starting out. This way, you won’t only build your portfolio, but you’ll also receive attractive tax returns.
Average people get a mortgage to buy a house. Smart people buy investment properties. Which one are you?