BUYING AN INVESTMENT PROPERTY BRISBANE
Why You Should Consider Buying an Investment Property in Brisbane
Are you considering buying an investment property in Brisbane? Owning a rental property can be a lucrative activity, earning you additional money and helping you reach your financial goals.
Benefits of Buying an Investment Property in Brisbane
Rental properties have some major benefits that make the prospect of investing very exciting for many people. Here are a few good reasons to invest.
- Tax advantage. Australia offers a tax break known as “negative gearing,” which essentially protects investors from losing money in many situations. The end result of negative gearing is that you may pay fewer taxes when the financial year ends.
- Stability. Property can be a less volatile investment than shares and other investments. Even through economic ups and downs, people still need places to live and continue paying rent – otherwise known as your income.
- No experience necessary. Some investments are so complex that you need special knowledge to take advantage of them.
- An extra stream of income. Buying an investment property provides you with an additional source of income as long as you have tenants. Many investors maximise their profits by investing in multiple properties.
Tips Regarding Buying an Investment Property in North Brisbane
An effectively managed investment property can increase your wealth and help secure your financial future. While it’s true that almost anyone can successfully invest in property, you do need some basic know-how to make it work. Here are a few tips to keep in mind.
- Choose the right property. The best investment property will increase in value over time. It’s best to invest in an area with which you’re familiar. The purchase price will be right, and the property will suit the local demographics – for example, with a big backyard in a family neighbourhood near parks and schools or lots of bedrooms if located near a university.
- Make the property attractive to potential tenants. Keep the kitchen and bathrooms in good condition and decorate with neutral tones. A well-presented property will attract higher-quality tenants. If you choose a home that you would be happy living in yourself (as opposed to one that’s only attractive as a rental), then you’re more likely to have a wider audience when you do decide to sell.
- Find a good property manager. A property manager keeps things in order for you and your renters. They provide a variety of services, including professional advice, repairs and other maintenance needs, screening of tenants, conducting reference checks, collecting rent money, and more. The price of your property manager will usually be a modest percentage of the rent you collect and is tax-deductible.
About New Stage Property
New Stage Property is a property management company offering our services in the greater Brisbane area. We provide exceptional service, honest communication, extensive market knowledge, and passionate and talented staff – all at reasonable rates. Having an investment property is about maximising your returns while maintaining your asset – a proposition that’s made much easier with the help of a good property manager. Contact New Stage Property today.