Financial Planning for Property Investment
Property investment is vital to a wealth-building plan. Property is a common piece of investment advice. Aside from providing rental income, property offers a reasonable rate of capital growth and new asset class for your portfolio. If you understand the property market well, buying a property might be one of the best investment decisions you make.
Related: Property Investment Tips
Reasons Why You Should See a Financial Planner before Investing in Property
Property investment is not something that you want to rush into, especially with mortgage finance. We suggest professional financial planning for property investment as a first stop.
Also read: Mortgage Broker Perth
The term, “as safe as houses” took on new meaning during the global economic crisis in 2007 and 2008. Many people took advantage of the low-interest rates leading up to the crisis. When the property bubble burst and lending rates increased, though, the property market crashed overnight.
People who’d bought during the halcyon period were stuck with properties worth significantly less than they’d borrowed, which they could no longer afford. The crisis showed that it’s essential to get the right advice before investing.
Considering the outflow that we’re talking about, it makes sense to seek expert advice. Property is one of the most significant long-term investments that you’ll make.
Many people make the mistake of seeking advice from friends and relatives. The advice is intended to help, but it could be completely inaccurate. If you needed brain surgery, would you seek advice from amateurs?
A professional financial planner in Perth looks at your whole investment portfolio and your goals. They’ll be able to give you an objective opinion on whether it’s the right time to invest in property. They’ll also give ideas for what type of investment suits your goals.