Property myths busted - Part 1
10th Feb 2010
"I can't afford to buy an investment property"
There are really two parts to this question. Your lending capacity and whether or not your lifestyle will allow you to invest.
Many people are surprised at their lending capacity, as they weren't aware of the amount of equity in their principle residence, or of other investment possibilities, such as buying off-the-plan, that will alleviate the immediate need for repayments on a mortgage on the property. Having a chat with Grow Consulting Group can really open your eyes as to what is really possible.
Many people mistakenly think that when they buy an investment property, they need to pay the entire repayment amount. This doesn't have to be the case! Furthermore, rent payments and tax benefits put money back in the investors' pocket, and many of our clients are surprised at how little they actually have to outlay.
Having said that, it is important that your lifestyle is not compromised by an investment property. As long as you buy within your affordability, you can hold the investment. Either way, Grow Consulting Group can help you to determine your best course of action and help you put in place a plan of attack do that you too can reap the benefits of property investment.