What is the best first property for me?
Your first investment in property needn’t be your home. You could buy a small apartment to rent out and accumulate funds so you can eventually buy your own place, in an area where you want to live.
Some clients choose to stay in shared accommodations or live with parents or even rent a more desirable property in a more expensive area until the property they have purchased has built enough equity into it to buy the right home. Then there are some clients that are not interested in buying their own home at all as they prefer to move around to different properties as they feel the need for a change.
This allows them to free up more savings to invest in property. This may suit some people, however, remember that the property that you buy to live in will not accrue capital gains tax currently in South Australia and every cent that it goes up in value or equity is all yours when you sell.
Obviously it will be your accountant or financial advisor that will have the final say in your set up so we will work closely with them to ensure everything is as per their final instructions.