There are just two months to go before the end of this financial year. Time is running out to make your real estate investment purchase. Never rush a property purchase. Instead, sort out your finance and start looking at suitable properties, especially if you want to purchase before the end of the financial year. This is particularly the case for first time investors.
Some investors might speed their purchase before 30 June 2010, simply as a strategic move so that they can claim the allowable tax deductions associated with the investment during this tax time.
Experienced investors know to always keep an eye on the market and give themselves plenty of time to select the best properties for their needs and budget.. Experienced real estate investors allow themselves plenty of time to select the best possible property for their needs and budget.
If you are a first time investor, perhaps encouraged by local news about our improving economy and lower unemployment rate, then now is the time to be talking to professional financial advisers about your aspirations and the amount of money available to you to invest. Why not make a short list of the areas you would like to focus on and then inspect properties that fit your needs..
Don't forget to include Government stamp duty into your costs.. Stamp duty along with some other costs, such as agent’s fees, are tax deductible when you sell the property in the future.. For full details on this read the information on rental properties at the Australian Tax Office website.
People always ask me to give them a tip as to “the best place in Perth to invest.Unfortunately, there is no answer to this question.. Your budget and goals will dictate what kind of investment property is best for you.. What is the key focus? Is it rental returns, land prices, capital growth, development opportunities or tax deductions?? Ask yourself how long you are willing to keep this investment?
There really is no such thing as “the best place to invest”, what matters is that you follow “the best ways to invest”. That means getting competent financial advice from professionals to determine your budget and your loan, and then talk to some REIWA agents about opportunities in the areas that suit your portfolio plan.
A Buyer's Agent or Advocate can help you save time and energy, especially if you want and need to purchase real estate before the end of the financial year..
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