Buying An Investment Property - A Few Basic Tips
Investing in real estate is a fantastic way to help accumulate wealth. It can provide a second stream of income which could be funneled towards your superannuation fund.
But before you take that first step towards property ownership, there are a couple of things to be taken care of beforehand.
Find out how much I can borrow?
Before beginning the search for an investment property, it is important to figure out how much you can borrow towards it.
Calculating your borrowing capacity will help you to narrow your property search, as well as begin the process of acquiring an investment loan.
Obtaining a thorough knowledge about the costs involved will help you to maximise your return and minimise any hidden costs or extra fees associated with buying real estate.
You could use an online home loan calculator to help figure out costs such as stamp duty and other government charges.
Contacting a mortgage broker will provide you with personalised, professional advice surrounding your financial situation with discussion of things like the loan application fee, valuation costs and lenders mortgage insurance.
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.