True, some people have lost money on their property during some periods in the past, making buying real estate a scary proposition. However, things have changed in the recent past, opening up countless opportunities for people with the financial resources to invest in real estate.
Here are five top reasons 2019 is the perfect year to put your money in house and land.
Property Prices are Now Affordable
Have you checked the prices on house and land packages here in Truganina, Vic? You’ll be pleasantly surprised at how affordable they are. Given that a home is generally the most significant expense you’re ever going to incur, buying property at a time when prices are reasonable makes a lot of sense.
Even if you don’t plan to settle on the new property you’re purchasing, you can rest assured that in just a few years, you’ll be able to sell it at an impressive profit.
Interest Rates on Mortgages are Low
If you’re going to be using a mortgage to purchase real estate, now’s the time to make your move. Mortgage interest rates are quite affordable at the moment, but the situation could change in a few short months.
And with lenders doing all they can to attract new clients, you can be confident in negotiating a great deal. Just be sure to do a bit of research to see which lenders have the best deals first.
You Can Be Assured of Getting Tenants
If you already have a home, you may want to buy a new house to let. The great news is that you won’t have to struggle to get a tenant, given that many people prefer to rent a home rather than an apartment. This is especially true for people who previously owned a home but now need to rent.
Additionally, tenants tend to go for homes owned by a private landlord instead of those under management companies. That’s because of the assurance that only the landlord has the key to the house, as well as the hope that they may be able to buy the home eventually.
Buying Real Estate is a Long-Term Wise Investment
There are few areas you can put money in and be assured that two decades from now, your investment will still be lucrative. Investing in property is truly the ultimate long term investment, regardless of the prevailing conditions at any given time.
If you plan to lease the property, then you’re assured that the mortgage will be paid by the tenants, which makes your investment even more profitable.
You Get to Enjoy Tax Benefits
As an investor in real estate, you’re entitled to certain tax exemptions and benefits that come with owning a business. If you intend to get the property, then you can write off all interest rate charged on your mortgage, depreciation, maintenance costs and any other expenses that are associated with the property.
There’s no doubt that becoming a real estate investor can help you reap substantial financial benefits within no time. And with 2019 exhibiting all the signs of a buyer’s market, this is the time to make the leap.