Want to get a step up on the investment property ladder, but need help to make this happen?
We’ve outlined a few things you’ll want to keep in mind when looking for an investment loan to turbo charge your portfolio.
It's a buyer's market
If you’ve been considering investing in property, with a softer market, now could be the opportune time.
Australian property values fell 4.8% during 2018, marking the weakest housing market conditions since 2008, with the largest declines in Sydney and Melbourne.
This makes an ideal time to negotiate a better price. Bargains aren’t always easy to find, though, as good properties could still have multiple buyers interested. Hold your ground and be willing to walk away.
Finding the right loan
Some lenders, like Liberty, allow you to borrow up to 95% of the property value. This means having a small or gifted deposit doesn’t mean you can’t achieve your investment dream.
Going with a lender that accepts lower deposits and allows you to add costs onto the loan, could help you get on the ladder now while the market is soft.
Think like a landlord
When looking for an investment property, you need to view them as a landlord, not an owner. This means assessing its potential appeal to renters, rather than whether it suits your personal taste.
Renters will consider location, proximity to schools and amenities as well as transport links. You also need to think about whether families or single professionals will be potential future tenants.
Talk to Liberty about your property investment goals and what home loan options might work best for you.