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Invest In Perth Real Estate Before 30 June
By Vic Hurlstorm | August 27, 2010
If you want to buy an investment property in Perth before the end of this financial year, then you better get a move on as there are just two months to go.
While purchasing property should never be a rushed affair, if anybody is considering the purchase of an investment property before 30 June, then they should be sorting out their finances and looking at suitable properties now. This is primarily the case for first time investors.
Some investors will choose to leave it to the last minute and hurray their purchase before 30 June, simply as a strategy to claim the allowable tax deductions associated with the investment during this tax period..
Most people however wouldn’t be inclined to do that, because it could mean that as a buyer they have not had adequate time to properly research the Perth real estate market in terms of price, rental returns, availability of stock and so on.
Experienced investors tend to always keep an eye on the local Perth Property market and allow themselves plenty of time to select the best possible property for their needs, expectations and budget.
If you are a first time investor, then now is the time to be talking to professional financial advisers about your aspirations and the amount of money you have available to invest. Make a list of the areas you are interested in and try to inspect properties that suit your needs..
Remember to keep a record of the State Government stamp duty you pay and don’t forget to factor this extra cost into your real estate investment plan.. When you sell the property in the future stamp duty along with other costs, such as agent’s fees, can be tax deductible.. For full details on this read the information on rental properties at the Australian Tax Office website.
I am often asked by members of the public to give them a tip as to “the best place to invest.But, it really depends on individual your situation.. It depends on your budget and what you want your investment property to do for you.. Are you focused on rental returns, capital growth, land prices, development opportunities or tax deductions? How long do you intend to sit on this investment?
There really is no such thing as “the best place to invest”, what matters is that you follow “the best ways to invest”. That means getting competent financial advice from professionals. Then talk to some real estate agents about good opportunities in the areas you like..
If you are pressed for time but want to purchase before 30 June, then you might also choose to engage the services of a Buyer’s Agent to assist you.
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