What should I be aware of when purchasing an investment property? June 29, 2015
Before purchasing an investment property, we highly recommend that you see a qualified accountant to assess your personal situation and determine how investment property ownership will affect you. Some of the issues to consider include:
- Affordability in owning an investment property?
- Who will own the property? i.e. Personal name or joint names, a company or trust structure or even a Superannuation fund.
- Do you know the pros and cons of Company ownership v’s personal ownership?
- Negative gearing benefits whilst holding the investment property
- Who will the borrower/s be?
- Do you know the rental return from the property?
- Will you manage the property yourself or will an agent manage it on your behalf?
- Are you aware of tax deductible expenses in owning an investment property? Improvements v’s repairs.
- Are you aware of depreciation benefits? Make sure you get a Depreciation Schedule!
- Capital gains implications when you sell the investment property.
Better Choice Mortgage Services is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to, or reliance on any information contained within this website. While the information contained within this website is periodically updated, no guarantee is given that the information provided in this website is correct, complete, and up-to-date. Although the Better Choice Mortgage Services website may include links providing direct access to other internet resources, including websites, Better Choice Mortgage Services is not responsible for the accuracy or content of information contained in these websites. Links from Better Choice Mortgage Services to third-party sites do not constitute an endorsement by Better Choice Mortgage Services of the parties or their products and services. The appearance on the website of advertisements and product or service information does not constitute an endorsement by Better Choice Mortgage Services, and Better Choice Mortgage Services has not investigated the claims made by any advertiser. Product information is based solely on material received from suppliers. Advanced Finance (Pty) Ltd t/a Better Choice Mortgage Services are not financial planners or accountants and we would encourage our clients to seek professional advice before acting on any a financial or taxation information in this news post.