Think and plan ahead to maximize your potential
Over the past 12 months, there has been a major shift in property with even more changes expected in 2023. As a property investor, this means changes to your investment and the way your money is working for you! Considering these changes before they come about could save you a lot, financially emotionally, and in time. Not acting now may mean having to refinance, a loss of rental income, or impromptu damage repairs. With the media predicting catastrophes and hard times, it is extremely important to look at the wider picture and especially the lifecycle of your investment property.
Taking note of how much capital growth your property has seen over the duration of your ownership, is not only important but necessary for the continued growth of your investment. To illustrate this, you may have noticed an average of 20-30% capital growth over two years, yet in the last 6 months a decrease of around 9%.
In 2022 we witnessed increasing rents, with a shortage in the supply of properties. Experts are now predicting a further lack of housing availability with expected unprecedented highs in immigration during 2023, creating an even tighter rental market.
Thinking ahead and planning for the future now, could help you maximize your potential right from the outset.
OUR TOP TIPS
- Review your investment property lease and rent
- Rethink your mortgage situation on the property
- Physically walk through your investment property to completely understand its situation
- Have a Property Health Check* – maximize returns in line with your objectives and reevaluate property insurance – correct cover for damage or rent loss and property valuations in line with reality
- Review your goals, the 5- or 10-year plan for your property
Stay educated and be proactive with your investment property…!
Interested in the Possibilities of an Investment Property?
If you’re interested in owning an investment property or renting an existing one out, it’s important to seek professional advice first – here are some things to consider before buying your first investment property.
If you are looking for general advice to start your property investment journey, get in touch with our Investment Services team today.
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