If you are toying with the idea of getting involved in the rental property market then there isn’t a better time to do it than now. All across Australia, the level of home ownership is reducing due to current high-interest rates and the fact that people are no longer able to get the deposit together to make a mortgage application. The price of a property has risen dramatically but that doesn’t take away from the fact that many young people like the flexibility of being able to rent a property so that if there are life or job changes then they can move to another city or town quite easily.
If you’re looking to further strengthen your financial portfolio and to protect yourself in your retirement years then you might want to look into build to rent at Sydney Olympic Park because this provides you with the perfect opportunity to really take advantage of the property market and get yourself some passive income.
As a landlord, you will definitely be at an advantage in the rental market so you might want to take a look at the many benefits that this offers. The following are just some of those.
- You have a source of income This is perhaps one of the best benefits of owning any kind of rental property because it offers you a regular income every single month. It will provide you with further financial security towards your retirement years and it is a form of passive income as well and you can still have strategies to cut costs. You will have expenses to cover of course but once you factor all of these in, you will still come out the other side making a fairly consistent income on the property and it will always be yours.
- It provides you with security – Even if you are just buying the property is something to sit on in the hope that you can make a substantial profit over the next 10 years then still important that someone is living there to make sure that the property itself is safe and secure. Renting the property to good tenants can give you as the owner essential peace of mind knowing that your investment is being taken care of and someone is keeping an eye on it.
- It offers you flexibility – It may be the case that you want to sell your property but the market conditions are not very favorable at this point. The wonderful thing about owning your own property is that you can hold onto it until the market improves and in the meantime, you can read about it for a reasonable profit. This provides you with the flexibility that you need so that you can sell at exactly the right time.
The good news is that property prices are going up year-on-year all across Australia so you can be fairly sure that your property will appreciate in value over the coming years. It also provides you with an excellent opportunity to completely diversify your financial portfolio.