Investment properties can be a financially rewarding long-term investment due to rental income, potential capital growth and tax benefits.
If you already own a property you can use the equity in that house as a deposit. If you do not already own a property but have a deposit saved, an investment property can be a good way to get into the property market. Either way the expected rental income you will receive is factored into the application process.
The government will provide tax breaks if the annual cost of your investment is more than the return, a concept known as negative gearing.
What’s the downside?
Despite the benefits of an investment property, there are many factors to consider. These include interest repayments, council rates, maintenance and repair of property, management fees by a real estate agent, insurance, and what rate of occupancy you can expect.
By speaking with EPG, the costs and benefits can be compared with your financial situation to determine whether property is the best investment for you.
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