Whilst our hearts have been breaking over the devastation of the bushfires, it has been incredible to see the united support to the firefighters and the victims. We hope that you and your loved ones haven’t been directly impacted during this time and that the worst is now behind us.
2019 was an unsettled year in many ways. In the property market, it was a year of re-organisation, with property prices stabilising and confidence returning to the market. Congratulations to those who invested with us last year and thank you for your support. If 2020 is going to be your year to invest, we look forward to working with you.
I’ve just returned from a trip to Queensland to look at new developments and there were a couple of absolute standouts – so stay tuned for information on those.
At this time of year, when so many of us are returning to work after holidays, we hear a lot of talk about buying a holiday home rather than an investment property. If you’re in this boat, it’s a good idea to revisit your investing strategy.
Are you buying a property for lifestyle purposes or as a wealth creation tool?
If you’re buying for lifestyle, buying a holiday home is a good idea. It’s an investment usually based on emotion rather than financial returns, so you need to do your homework. Run the numbers on the costs, the time involved in maintenance and upkeep and speak to your accountant about tax implications. Returns are usually diminished due to the fact that you want the property to be available for your own personal use, preventing you from securing long term tenants.
If you want to buy a property as a wealth creation tool, then holiday destinations and holiday rentals aren’t usually the best option.
As always, the most important thing with property investing is to explore your goals and make sure the property is going to help you achieve those goals.
If you want to discuss your plans and goals, please get in touch.
We’d love to help you achieve them! Check out the details of my favourite property from my Queensland trip last week. This is a great opportunity for under $400K.
0416 049 226