How Property Investment Services Can Help Gen Y
With property prices continuing to climb out of reach for many young people, there is a growing trend in the Australian property market of Gen Y buyers choosing to pursue investment properties rather than purchase their own home. Unable to afford the type of property or area they want to live in, Gen Ys are increasingly seeing investment property as the most affordable way to get a foot in the door of the potentially lucrative property market, while continuing to rent or live with their parents.
Mortgage Choice research indicates that as many as 43 per cent of first-home buyers, consisting predominantly of Gen Y, are electing to invest rather than live in their first property. Loan Market’s Chief Operating Officer, Dean Rushton, recently told PerthNow that the company had seen a marked rise in first home buyers looking at investment properties.
But while investment properties may offer a more affordable way to gain a foothold in the market, Gen Y buyers should give careful consideration to their investment strategy. Developing property investment systems that address personal financial goals could be the difference between a rewarding nest egg and an unwieldy financial drain. Building a successful portfolio involves research, setting goals and formulating a plan. Location, earnings potential, tax impacts and cash flow all warrant thorough contemplation. Investment property services can assist by removing the leg work, and providing access to transparent and compliant information and professionals. Financial planners can be particularly helpful when making a first foray into the property investment world, assessing current means and ensuring adequate preparation.
Developing a property investment portfolio while young can be a fantastic wealth creation tool and, with appropriate planning, can pave the road to financial success.
Processing your request, Please wait....
