While relaxing and enjoying good times at your favourite holiday location, you stroll past the local real estate agent’s window and browse the offerings.
See how a renovation achieved a 13 per cent yield from our business partners at BMT Tax Depreciation. Australia’s renovations industry appears to be profiting from weaker economic conditions and tighter lending standards, with alterations and additions to residential buildings hitting a historic high recently. Australian Bureau of Statistics December Building Activity data showed a 6.6 per cent increase in alterations and additions in 2018, with renovation spending reaching $2.27 billion in the December quarter.
This indicates homeowners and investors seeking to improve capital values and increase rental income have been renovating their properties, rather than purchasing anew. It’s expected this boom will continue, as Master Builders Australia has forecast homeowners and investors will spend $8.8 billion annually on renovations over the next five years.
Whether you love the thrill of an auction or your knees tremble at the thought, auctions have become the preferred method of selling property in most of the major centres across the country.
For those who are new to the process, buying or selling at auction can appear daunting. Don’t be put off! There are many advantages, and a few tips and tricks, that you should know about before entering the auction room.
Topics: Buying at auction
Tighter regulations have made it tougher than ever for non-resident buyers to buy property in Australia. While the process may seem near impossible to navigate, once you understand the framework the Government uses to approve applications, it’s actually fairly straightforward. Take a look at what you need to know.
Renovating a rental property can be a costly exercise but making improvements to the property can yield a healthy return. To ensure you’re maximising your investment, it’s important not to overcapitalise, to stick to your budget, and to use durable products and materials. If you are considering renovating your rental property, ask yourself these 3 questions first.