Property value across the country is growing at their most accelerated rate in 17 years. CoreLogic reported this as the largest increase in median prices since August 2003.
For some investors owning two or more properties seem like a dream investment. It is plausible they have missed the tell-tale sign that now is the time to invest in a second property and grow their wealth portfolio.
If you are still contemplating when and where you should make a next property investment, the experts here at The Buy Investment Property Program have come up with guidance. We help you decide when could be the best time to buy another property.
Less Financial Pressure
Your Savings And Income Have Increased
If you have been steadily saving or experienced a pay rise since you bought your first property, you could be ready for making the second investment.
You Have Equity For A Deposit
You Have Earned Considerable Equity In Your First Investment Property
Your first investment property has now built enough equity in your first investment property. In that case, you can think of using that equity to invest in a second property.
You can apply for an investment loan using equity as security with the banks. However, having usable equity does not ensure a loan approval. Lenders evaluate several factors before approving your loan, such as your credit rating, current debts and current income.
Favourable Market Trends
Market Research Is A Vital Part Of A Profitable Property Investment Strategy
If you are planning to invest in a specific area, look beyond convenience and accessibility. Also, study other vital factors. These can include vacancy rates, rental demand, and rental prices for different properties.
If you plan to grow your property portfolio as savvy investors who own two or more investment properties in SA, let our multi-property investment specialists help you build a successful investment strategy.
Mortgage Rates Are Low
Leverage The Current Mortgage Rates
If you are preparing to apply for a mortgage, review the current loan rates. Accessibility to low-interest rates in 2021 is another good reason to get into property investment.
The Reserve bank has indicates that it is unlikely to raise interest rates until 2023 – 2024.
Let us help you understand more about investment loans.
You Are Nearing Retirement
The End Goal Of Any Smart Property Investment Is To Create Wealth
The purpose of building wealth is often to set up a desirable lifestyle in your twilight years or comfortable retirement. If you are getting closer to retirement age, now is the perfect time to step up your property investment.
When any or all of the above signs are in your favour, it could be time to diversify your investment property portfolio.
Take Benefit Of The Opportunities The Current Property Markets Are Offering
With the pent of demand for property the market remain bouyant. However, it is important to get the right advice before buying investment property.
So, you can increase the potential earnings and minimize the risks.
We're Here For Help
Let’s connect over a no-obligation phone chat and discuss top suburbs for investment property purchase, how to secure investment, tax reductions, asset base and other relevant details.
You can submit your inquiry online or call us at (08) 8263-4009.
