Making a Property Purchase

Before you go ahead and purchase your home:

  • Save a deposit of approximately 20% - in doing so you wont need to pay mortgage insurance and you’ll have a buffer if circumstances change. 
  • Don’t underestimate the costs involved of purchasing property – depending on the value of the property, a 20% deposit could be $300,000 or more
  • Set up an offset account tied to your loan account so that the balance reduces the amount owed on your loan
  • Get a conveyancer to check and manage the paper work
  • Understand what you’re buying and how you’re financing it. If you don’t understand it, don’t do it.
  • Once you have purchased an investment property, have it professionally managed.
  • When building a portfolio, consider diversifying by purchasing property inter-state. This will broaden your exposure and could have positive tax implications. 

Talk to our team at Exchange Property about selecting and managing your properties in Sydney’s inner west and east. Our management services will maximise your financial returns while minimising your involvement.