Tips for Buying Property interstate
We know from looking at the data that most investors buy property in their home state. Even though your home state or city may not be the best place to invest in, one of the great advantages of property is that you can see it, touch it and feel it.
Buying close to home, even if it’s an investment, feels more comfortable. It’s hard to touch your bricks and mortar if they’re 2,000 km away!
But avoiding interstate purchases can limit the potential to increase your wealth by not investing in areas with growth or market demand.
Imagine owning property in Sydney in 2002 and 2003 when property prices increased by over 40%.
Or owning property in Adelaide in 2003 and 2004 when property prices also increased by over 40%.
What about Brisbane property owners in 2002, 2003 and 2004 – with increases of up to 75%?!
If you’re in the right place at the right time, you capitalise on growth in prices and minimise land tax, which is state based.
Read the full realestate.com.au article here.
Looking to invest interstate? Talk to us today.
