How do you know your investment property is a golden goose?
Recently, Queensland Treasurer Curtis Pitt was thrilled to note that the housing finance statistics for our state are through the roof, hitting a seven-year high. It means there is a lot of activity, particularly in the construction of new homes, which in turns boosts jobs and the economy.
This means it's a great time to implement a property investment strategy, with demand pushing up supply and a raft of new properties hitting the market. But with so much going on, how can you be sure that your selection of property is correct?
Watch out for big projects
It's nigh impossible to tell exactly where the big growth areas are going to be to the letter, but you can give yourself an educated chance by looking at big projects occurring across the state. Major roads, funding going to mining expansions, hospitals and schools are all sound indicators of a bustling area, and getting in early can be the way to growth - especially if it's an area without too much activity when you buy.
Watch out for these announcements from governments and councils - they may be but specks on the horizon, but they can grow into fantastic opportunities for wealth generation. The National Infrastructure Construction Schedule is great for this, but so are we - our wealth coaching specialists know how to help you make the most of an investment property strategy.
Buy it new
Buying an investment property in Queensland is likely to generate capital gains, but there are certain steps you can take for a better long-term strategy. One of these is buying new properties, which you can even do before they hit the market. This is called buying off the plan, and the right professionals can put you in a great position to do this.
This can allow you to secure a great price, and it also means your home is more likely to stand the test of time than an older piece of real estate. Buying new means buying for the long term, and starting with the cleanest slate possible.
Unsure about how to move forward and get into new investment property in Queensland? That's where Think Money can be of service. We have years of experience helping people generate wealth through property, and could find you an exemplary slice of real estate. It's a safe, fantastic way to set yourself up for later in life - why wait to get started?