Buying an investment property to increase your wealth.
Investing in property is both a long term commitment and an expensive exercise. Before considering investing it is wise to list your assets, income and expenses and sit down with an experienced mortgage broker so you know exactly how much you can afford to borrow.
Although property investment is less volatile than other investments, it’s important to evaluate the costs of buying an investment property, including the costs of owning a property and selling a property. The opportunity of earning rental income as well as capital growth and offsetting property expenses against the rental income for tax purposes certainly makes it an attractive option.