And Ray White Double Bay is there to guide you all the way.
As we all know, buying a property to rent out is a popular form of investment these days. But because it’s a relatively easier investment to make as people tend to understand better, it’s important that people buying for investment purposes are doing it at the right time but also at the right rate. (And all the other factors that need to be “right” of course.)
So people say it’s good to buy during summer which is true. But it’s also important to keep a keen eye on the market during the slower colder seasons, as something unexpected just might happen.
So why make an investment now? Or the near future for that matter.
Well the current cash rate in Australia is 1.5% which is lowest rate that we have ever seen in Australia’s history- with interest rates being as low as they’ve ever been – to borrow money today is the cheapest it’s ever been.
Essentially borrowing money for home loans has never been “cheaper” and getting in now would possibly be a good idea. As well as this, a good thing to note is that with banks continually passing on interest rate cards the rental income return is almost covering the majority of your mortgage payments.
So some would argue that now is a great time to buy an investment property. While other would say wait until there’s a more stable market. The truth is. Everything has to fall into place at the right time for it to work. However with that being said sometimes a spontaneous buy can turn out to be very valuable.
Irrespective of when you decide to make this investment, Ray White Double Bay is there to guide you and help with each and every thing may happen along the way.