Where Do I Invest?
You could be a seasoned property investor or someone who is new to Investing. So many people have different opinions on the best thing to do when investing. And so there is some good and bad advice out there. How do you know which way to go?
Do you invest locally, within a few kilometres of your own home. You know the areas and probably can buy well, including feeling assured you have made the right choice. In our opinion, we would suggest that is the wrong decision.
When you invest, you need to put your Investor’s cap on. Look at things differently to when you are purchasing a property to live in and call a home.
It’s lovely to think that a tenant will also fall in love with your investment property and rent there for a long time, however there are some key points to make it rentable and to attract the right tenant.
Some investors want a ‘bulldoze job’ where there’s an older style house on a large block, and believe the land value will be what increases in value, so that’s the best investment. They may well be correct, however if you are renting out the ‘old house’ there will be ongoing issues with maintaining it to a standard that a tenant would expect when living there. Leaving electrical items and maintenance unattended will give you issues down the track. And you may not be too motivated to repair or replace these items, when you know that ultimately you or the next investor will just be bulldozing it.
Other investors like the idea of an easy care property that’s fairly new or newly renovated, and a smaller yard so it’s not so hard to maintain. These are sometimes villas, units and apartments. They may have other ongoing charges, like strata fees and levies that may even include maintaining lifts or swimming pools. These are costs that a landlord must wear, not the tenant.
So the idea of an investment property isn’t a rubber stamp approach – it’s different for everyone. What may suit you, may not be the right choice for the next person.
Sometimes our clients appoint a Financial Planner to discuss these options in more detail and to find out what would be best for them.
Here at Sydney Mortgage we like to make it easy for you to sort your finances to buy an investment and work through the options you have with home loans, the best interest rates and go through the bank fees in detail. Whether you should fix your loan so you know the monthly repayments or opt for a variable interest rate to take advantage of the current low interest rates – we show you options. We guide you through each step, ensuring you know what is on offer for you, working with you to upload the necessary paperwork to obtain a YES from a lender, and a smooth transition to your new loan.
The cheapest interest rate may not be the best rate. When you add up fees, banking terms, set up costs and the total costs over the life of the loan you will be surprised on the comparisons we can show you. We work with over 30 lenders so have a huge selection to offer you.
Our appointments are complimentary so why not book a one on one appointment with one of our Brokers today? We can meet over skype, phone or in person to suit you.
We offer one on one consultations and work with you to find out how much you can borrow. Find the best rates and the best loans that suit your situation. We work with over 30 lenders so have many packages to compare. For your FREE consultation please click below;