When considering purchasing an investment property for the first time, buyers want to ensure that they are making the most of their money. Locals who research the market thoroughly, have a long-term strategy and are informed about their finance options will generally find themselves in a good position for property investment.
Caloundra Mortgage Choice Franchise Manager Warrick Young encourages those looking to buy property to keep in mind that understanding their financial goals and deciding on the right strategy to achieve them is key when making any investment decision, including property investment. Buyers should make certain that the investment will improve their financial situation in the long run.
Be realistic about capital gain and rental income
Consider using the equity to purchase an investment property
Carefully weigh up positive vs. negative gearing
Choosing the right finance
Consider interest only vs. principal and interest loans