A Guide to Property Investment in Perth from Local Experts
Whether you’re an experienced investor or just getting started, Motivate Property Group have put together this property investment guide for you. With extensive experience across diverse property markets in Australia, you can count on us for tailored property investment advice. Here we’ll cover several crucial aspects to property investing, including navigating the local market, local regulations, legal considerations, financing options and what to consider when selecting a property.
Understanding the Market
The Perth real estate market presents a range of investment opportunities. A research-guided approach is essential when purchasing property, considering factors such as location, long-term growth prospects, and proximity to key amenities. Understanding these elements can help investors make informed decisions and maximise potential returns. Increasing demand due from a rapidly growing population has also translated to record price growth recently in many areas.
With cost-effective, high yield properties available in proximity to fantastic amenities and environments, there’s huge potential in terms of both rental income and capital gains (the profit you make when you sell something for more than you bought it).
Regulations and Laws
If you plan to renovate or rebuild an investment property in Perth, it is important to understand local regulations and laws. This includes building permits and zoning along with any easements or covenants that could impact your plans or create additional costs.
Like any property purchase, remember to factor into stamp duty and any building inspection costs if required. If you’re uncertain about any of these aspects, consulting with an experienced property financial team can help you make more informed decisions about the financial risk or potential reward offered by a venture.
Financing Options
Working with a mortgage broker is the best way of securing the best possible financing options for your Perth investment property. Other options include:
● Leveraging equity from a property that you already own. This is the value of your home after subtracting what you still owe on your mortgage. For example, if your home is worth $400,000 and you owe $250,000, your equity is $150,000.
● Consider a security guarantor loan, where a family member with a good credit score acts as a guarantor.
● Other mortgage options include a government backed loan, where you occupy a unit within the property and rent the others out.
Whatever the case, creating a detailed financial plan, consulting an experienced broker with connections to lenders and getting pre-approved is essential. Motivate Property Group offers tailored brokerage services, designed to connect you with financing options that match your specific situation and goals.
Other Factors to Consider
When you’re looking at purchasing investment properties in Perth, maximise your potential for wealth creation by looking for property in proximity to existing amenities and infrastructure such as schools, cafes, restaurants, healthcare services and green space. Ensure you select a property in a growing or stable area that offers favourable potential for rental income to boost your financial opportunities.
Looking for more guidance or assistance? We are your top choice for property investment services in Perth. Get in touch.