With interest rates at record lows, and a booming property market, even people overseas are starting to talk about the benefits of property investment here in Australia. However, before you rush into buying, there are a few things you should consider.
Zippy Finance has put together a few essential tips for budding overseas buyers below...
It’s important to shop around for a good property, and if you are not familiar with the area - Zippy Finance may be able to help you with this, or you could ask other property investor contacts for their thoughts.
Know The Rules
If you’re an overseas buyer, it’s important you make sure you know of all the legalies of buying in Austrlia. The rules change regularly, and this is where you need the aid of a professional to prevent getting into any sticky situations.
Take time to investigate the area you’re considering buying in, and get professional advice on property values, recent sales and the growth outlook for the area.
Know The Costs
Once you’ve decided on a property, factor in costs like local council and water rates and, if you’re buying an apartment, the strata levy (also known as body corporate rates) into your calculations - these will be significant ongoing costs that you as the owner have to pay. There are a few other costs involved, as well as a heap of paper work, which you can learn about by contacting us.