For many Australians, investing in property is a smart way to build wealth. Whether you’re ready to take out an investment loan, or you’re looking at other ways to make a big move, here are some key things to consider.
When deciding where to buy, here are some key questions to ask yourself:
Location is a big factor, but so is the property itself. So when you’re looking at features, consider what corner of the market these will appeal to – e.g. singles, couples or families? It’s also a smart move to aim for features that will attract more than one target market, so you’re increasing your chances of securing good tenants. Also, you’ll want something that’s easy to maintain to keep the costs down.
Finding tenants, collecting rent, doing inspections, organising the plumber – there’s a lot that goes into taking care of an investment property, and a range of legal responsibilities you have as a landlord that you’ll need to understand.
Many people outsource the bulk of the heavy lifting to property managers. If this is how you want to go, just make sure you weigh up your options to find a manager you can trust.
It might sound obvious, but the more planning you do, the better position you might be in to pick the right home loan and make a great investment. Here are some key things to do:
Whether you’re interested in our range of investment loans, or after more information about the whole process, we’re here to explain the finer details and what to expect.
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