For some the thought of buying a home or property is a terrible idea. For others it is all they dream of.
As professional real estate agents, holding many years’ experience with helping hundreds of people every year to purchase residential property in Campbelltown, Narellan, Liverpool, and other suburbs in Sydney, Prudential Real Estate know you can break home purchasers down into two categories: those who wish to live in the home and those who wish to build a nest egg through the investment in property. Sometimes these two categories can blur over a little as the advantages of owning property are so immense.
Today we want to offer some solid reasons for plunging into the residential property market and buying your own slice of heaven.
No More Landlord Control
As tenants, we are bound by all sorts of rules and regulations revolving around the protection of property that you are only borrowing from its owner.
You are not allowed to put holes in the walls to showcase your family photos or precious sports memorabilia collection.
You are not allowed to paint the walls of any room any colour you like without approval and agreement from said landlord.
For that matter you cannot take out the roller door in the garage, fit it with a sliding glass door and convert the garage to a games room, extra bedroom, or gym.
Nothing Like Feeling Secure
In Australia a tenant will usually sign a 6- or 12-month lease. If the owner of the property intends to continue to make this property available for many years to come then you may be able to relax, knowing you can stay long term.
But what of the owner who wishes to move back in or who wants to sell up? Perhaps the area you wish to live in has a very high demand for rental property with a very low supply. When you own property you are always in a position of strength and security.
Asset Growth that the Tax Man Can’t Touch
If a home owner has chosen wisely they will happily enjoy what is called capital growth.
Capital growth is better than any savings or investment account and way better than investing in shares.
The reason for this is that the return on savings and investments directly correlates to interest rates. They are low.
A share portfolio is not a bad investment but the truth is you will be liable for a tax called capital gains if you sell any shares at a profit.
Selling a property you reside in attracts capital growth without attracting capital gains tax.