Tenants are investing in homes
Some tenants have a new year’s resolution of owning an investment property in 2012 and are looking at the steps to become a first-time property buyer and installing tenants in their properties rather than themselves.
Buyers are exploring the option of ‘first investment’ rather than ‘first home’ and continuing to rent a place to live themselves. For many this investment may see them spending less than if they committed to owning their first home.
If the investment property has a smaller backyard or lower ceilings than you would ideally like in your own home it doesn’t matter. If you look at the investment property in terms of a good rental property – it is likely that you view your investment as a winner.
The demand for good rental homes is high. You have your foothold in the property market, with possibly not as great a mortgage, and regular money coming in through rent. Then there is the potential capital gain, which you wouldn’t have if you stayed outside the market. There are tax benefits to the investor as well.
Talk to the LJ Hooker team. Property managers, sales agents and property finance specialists are there to answer your questions and assist in an investment property purchase.