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If you’ve been contemplating the idea of investing in Australian property, you’ve likely encountered the question: “When is the best time to buy?” That’s often met a wink and a nod followed by with the reply, “NOW!” But before you jump in feet first, let’s dive into some of the intricacies to consider.
Start with tax advice
First and foremost, let’s talk taxes. In the realm of property investment, understanding tax implications is crucial. Australia offers a range of tax benefits designed to support property investors. It’s important to be well informed about buying structures, negative gearing, capital gains tax, and to have a robust property investment strategy.
It’s also essential to remember that tax laws can be complex and subject to change. Seeking advice from a tax professional who specialises in property investments and expatriate taxation is key to ensuring that you’re maximising your tax advantages.
As a leading provider of Australian taxation, finance, and property services to Australian expatriates and foreign investors, SMATS Group has assisted thousands of clients to purchase property using tax effective and reduced risk investment strategies that are geared towards long-term success.
“Property values often climb faster than our budget”
Navigating home loans
As any experienced investor will tell you, securing mortgage pre-approval is pivotal. Unfortunately, when you’re an expat or non-resident buyer, you’re often faced with decreased mortgage options, reduced borrowing capacity and higher rates. However, this doesn’t always have to be the case.
This is where partnering with a firm that has been successfully obtaining home loans for Aussie expats and non-residents for over 30 years is a no-brainer. Specialist Mortgage, the finance division of SMATS Group, has mastered the art of tailored expat mortgage solutions.
Mortgage pre-approval not only gives you a clear understanding of your borrowing capacity, but it establishes your credibility as a serious buyer. It can save you time, energy, and heartache by streamlining the process when you find the perfect property. In addition, pre-approval can provide you with the confidence of shopping with a budget in mind.
Buying the Aussie dream
The physical distance, local market knowledge gap, and dealing with real estate agents can make buying Australian property whilst abroad seem like an insurmountable task. That’s where a buyer’s agent can assist.
A buyer’s agent can serve as your local eyes and ears, advocate for your interests, and leverage their expertise to find your ideal property. Navigating negotiations, conducting property inspections, and handling legal intricacies – all of these are simpler when you have a trusted professional by your side. At SMATS Group, our buyer’s agents possess an in-depth understanding of the Australian market, including emerging trends and hidden gems that you might miss from afar.
And here’s why they will tell you, NOW is the time to buy Australian property. The market has displayed remarkable resilience through various economic shifts, reinforcing its reputation as a stable and attractive investment option.
Cities like Sydney, Melbourne, Brisbane, and Perth continue to be strong contenders for property investment due to their economic growth, cultural vibrancy, and desirability. Recent data indicates that property prices are on the rise driven by factors such as buyer competition, housing demand, supply shortages and migration.
Many of us will reflect on our home buying journey and think “I wish I’d bought 10 years ago”. Procrastination often results in us having to downgrade from our dream home. Property values often climb faster than our budget. That once attainable property grows out of reach.
The lesson learned is that waiting doesn’t achieve results. Buying your home today means you lock in today’s price. When, it comes to buying quality Australian real estate, the sooner the better. Quality liveable real estate will always be in high demand, ride the wave of property cycles, and outperform the market.
If you’re an expat or a non-resident, the path might seem more challenging, but rest assured, solutions are within reach. SMATS Group can assess your unique circumstances and guide you through the maze of mortgages and intricacies of purchasing whilst abroad, whether that be your ideal home or an investment property.
With a blend of favourable conditions, professional guidance, and a landscape that beckons, this might just be your moment to make your mark on the Australian property market.
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