#smartpropertyinvestment

[positivepropertysolutionau]

Thinking of quickly paying off your house? 🤔💭 #SmartPropertyInvestment

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[urbansensations]

What does the recent budget mean for the property market?

We’ve now had a few weeks to digest the implications of the Federal Budget released earlier this month, but what does it actually mean for property buyers? 

Overall, it appears the opinion is one of positivity. 

Smart Property’s angle is that the investment in infrastructure, together with the reduction of personal tax costs, will have a flow on effect in the property market. Meaning savvy investors can focus on the proposed public transport and road developments to identify future property hotspots. 

The Real Estate Conversation quotes REIA President, Malcolm Gunning, as saying “there is nothing in the budget to suggest that interest rates will be lifted in the near future, as inflation is expected to remain within the RBA's target zone.... [the government] focus has been more about the broader economy lifting up affordability and spending, rather than placing restrictions on property.”

However, HLB takes a slightly different approach, saying that the new budget is angled at slowing down property investment and increasing affordable housing, especially for first home buyers. For property investors, HLB summarised that claimable deductions have been reduced, including travel to inspect rental properties and claiming depreciation on plant and equipment installed by previous owners.

As a further flag, Rogers Property Group has highlighted the following: “One thing investors do need to watch out for is the intention to not allow a tax deduction for expenses on vacant land. This is targeted at those that have no intention to build an income producing asset on that land.”

So, overall it looks like things will be mostly business as usual with some potentially promising hotspot zones growing around Geelong, Frankston and towards Monash for Melbourne investors.  

And remember, if you do have an investment property and want to make some claimable improvements before the end of financial year, let us know so we can fit you in for June!

If you are interested in reading the full articles referenced above, we’ve pasted the links for you below:

https://www.smartpropertyinvestment.com.au/finance/17975-budget-2018-a-good-budget-for-investors

https://www.therealestateconversation.com.au/news/2018/05/09/federal-budget-holds-good-news-buyers-and-sellers/1525834606

https://www.hlb.com.au/recent-tax-changes-affect-property-investors/

http://moneymag.com.au/infrastructure-spending-suburbs/

http://www.rogerspropertygroup.com.au/impact-2018-federal-budget-property-investors/

Photo by rawpixel on Unsplash

[urbansensations]

For 99.9% of renovations, works run smoothly, the job gets done and everything turns out perfectly. However, there is the 0.1% of cases where accidents can sometimes happen, and that’s when it’s good to know you are covered. Before you even commence site works, it’s good to be prepared so you can rest easy and proceed with confidence. Check your insurance cover first and have a discussion with your contractor to make sure you are both clear about the action that will be taken if any unexpected accidents occur.  Keeping the communication open with your contractor will make all the difference. It’s rare that accidents happen, but with good communication and a well selected team of trades, setbacks will be rectified quickly and the project back on track with as minimal disruption as possible.

Learn more about how to get the most out of your renovation at our upcoming Reno Read Workshop on 31 July. 

[urbansensations]

This is good advice - whether it is an investment property or your own home.

[urbansensations]

Are you looking to invest next year? Confused about where the market is really at?

Then these few articles will assist you to sift through the fact from fiction and help you to plan the best course of action for you.