Property investment is a great way to build long-term wealth, and you don’t need to be rich to get started. A Smartline mortgage broker can help you understand the kind of investment property opportunities for you.
There’s no one right time to invest in property. It all comes down to your unique needs, situation and goals. Some of the things you’ll want to think about include:
- What’s my current financial position?
- Can I afford a property that tenants want?
- Am I prepared to hold the property a while?
- Can I afford the upfront costs?
- How much can I afford to borrow?
- Will I need a deposit?
A Smartline mortgage broker can help answer all these questions and more. They will also show you investment strategies that you may not have known were possible, such as:
Making the most of your home equity
Equity is the difference between your current home’s value today and what you have left to pay on your mortgage. It can be the ideal springboard to successful property investment.
Investing on a low income
If you’re on a lower income, you still have the ability to invest in property. It comes down to doing your homework, thinking creatively and making smart choices, such as a low priced property that offers high rental returns. And finding the right loan for you.
Using a renter-investor strategy
Want to start a property portfolio, but don’t want to compromise your lifestyle? You could look at buying an investment property and continue to rent where you live. Some of the benefits include being able to live:
- in a better area
- in a bigger home
- closer to work or school
Plus, there are many financial incentives for renter-investors. Your Smartline mortgage broker can show you the right way to finance your planned property purchase and get a great deal.