July 09, 2023

Luke on 2CC – Investing in property. Part 1: What to think about before you buy?

17 minutes

Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in Money Matters, which aired on Friday 7 July 2023. The topic this week for the show is: Investing in property – What do you need to think about before you make a decision to buy one?

Key topics covered include:

Why are you investing in property? A tax deduction is not the primary reason to purchase an investment property. Many people make this mistake, not thinking about the long-term factors or how it fits with their other assets.

There’s been a generational change in the way property works

Who will own the property? Will it held by an individual, a couple, a structure or a self managed super fund? There’s tax issues to consider too here!

Where are you going to buy it? Different states and territories have different rules.

What are you going to buy? Residential or commercial property?

Do your own real estate research – don’t rely on an agent to tell you everything you need to know.

Do you homework with strata if you’re buying into an apartment situation

Of course, think about rising interest rates and how will you pay the loan back too!

Finally, Luke shares his top tips to think about before investing in property

https://www.envisionfinancial.com.au/wp-content/uploads/2023/07/The-Strategy-Stacker-Luke-Talks-Money-07072023-1.mp3

Also available on Apple Podcasts and Spotify – ‘The Strategy Stacker – Luke Talks Money’

Do you need help to map out your own financial plan?

Investing in property should be considered part of your long term financial planning. There’s real medium and long term issues to consider as you approach retirement too. If you need help to plan your future, seek financial advice before you make big decisions.

Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals, including investment, super, retirement and more! Make an appointment to confidentially discuss your goals. Call Envision Financial Services on 6260 4749. You can use the contact us form to make an appointment, for a confidential discussion about your situation.

Luke will return to 2CC to talk about other ‘Money Matters’ next week. You can also catch up with ‘The Strategy Stacker – Luke Talks Money’ podcast at a time that suits you.

We look forward to your company again and Smart Money Strategy is out now.

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By Luke Smith