Investing in property is one of the most challenging but worthwhile investments you can make. The team at Impériale are big believers in property being an essential gateway to wealth and if you make the right decisions it can set you up financially for years to come.
There’s a lot to consider when buying an investment property. You need to research areas with high growth, higher rental yield and low vacancy rates. Decide what location to buy in and the type of property to buy. Run all the numbers and consider whether the property will be positively or negatively geared and the tax implications that come with it. You may also have the opportunity to invest interstate and diversify your property portfolio.
Engaging a conveyancer right away is a smart move to ensure the purchase of your investment property runs smoothly.
Making the right property investment moves with a specialist conveyancer
Specialist conveyancers (such as the Impériale team!) are able to give property investors valuable insights on council by-laws and overlays for areas you are considering investing in. These factors can heavily influence the type of renovations, buildings and extensions you can carry out on the potential investment property.
We are also responsible for protecting your rights as an investor during the buying process. A conveyancer ensures that you meet all of the legal requirements for the transaction, as well as handling the documentation, correspondence and negotiation involved in the process. We’re here to help make your purchase as easy as possible.
While you can settle a property without a conveyancer, it’s important to remember you are liable for any mistakes or oversights you might make in the buying process.
What you should know before buying an investment property interstate
Often there are good investment opportunities outside of your home state. It’s also a smart way to diversify and spread your risk across multiple markets. You should be aware that conveyancing and other legal requirements such as stamp duty, Contract of Sale, cooling-off periods and property tax can differ significantly from state to state.
We recommend hiring a conveyancer that is experienced in handling property matters in the state you’re buying in. Impériale is made up of a team of conveyancers who specialise in the Victorian, New South Wales and Queensland property markets.
Are you looking to engage a trusted conveyancer and advisor for your next investment property purchase? Get in touch with the team today!