Five tips for successful property investment

Investment in property continues to deliver the most stable returns to investors over the long term and as such remains an excellent way for Australians to plan for their future financial security.

Here are five tips for you to use property to secure your future!

  1. Monitor capital growth and vacancy rates right across Australia. Too often investors buy into the same rental market that they live in and miss out on investment opportunities in areas where rent may be as high but purchase prices are much lower.
  2. Don’t think that buying a property means you need to live in it – look for a high yield/low vacancy location and and rent the property out which you continue to live in an area that best suits your lifestyle and requirements.
  3. Use a mortgage broker to help you seek your finance and determine your individual financial needs. Mortgage brokers are paid by the financial institutions that they place business with – not you – so let them do all the work and running around to get you the most competitive interest rate possible and the best loan structure that suits your specific needs.
  4. Work to a specific budget for the property purchase and any renovations that may be required, but leave room for the unexpected!
  5. Seek advice from qualified professionals such as accountants and financial planners to not only ensure that the investment decision that you make is the best one for you, but that you also take full advantage of negative gearing benefits from your investment property and claim all expenses that you are legally entitled to.