Property

Property Investing

Property investing considerations

PROS CONST
  • "Passive" income 
  • Tax deductions if property is owned by a human and human is working
  • Increase in property value, proportional to deposit
  • Hard to go to $0 like stonks
  • Can use proptery as collateral 
  • TAX
  • Strata (Tax deductable)
  • Council Tax (Tax deductable)
  • Mortgage fees (Tax deductable)
  • Mortgage interest (Tax deductable)
  • Water bills (Tax deductable)
  • Repairs (Tax deductable)
  • Land tax (If owned by a trust) (Tax deductable)
  • Insurance (Tax deductable)
  • Property management
  • Stamp duty on buy
  • Converyancer costs on sale

 

Property ownership

Pros Cons
  • Increase in property value, proportional to deposit
  • No land tax
  • No cappy gainz when selling
  • Can use proptery as collateral
  • Strata
  • Council Tax
  • Mortgage interest
  • Mortgage fees
  • Water Bills
  • Repairs
  • Insurance?

 

Renting

Pros Cons
  • No water bills
  • No mortgage
  • No landlord insurance
  • No strata
  • No council
  • Not stuck in one place Cons
  • Can't capture increase in value
  • Moving costs
  • Can't put nails in walls
  • Repairs can be harder
  • Renters insurance

 

 

 

 

 

 

Moving addresses

Chang address for

Buying & Selling

Buying a property

General Steps

  1. Hit up a mortgage BROKEr
  2.  Building inspection (Pest, mould, foundation)
  3. Use conveyencer to look over sales contract
  4. Find place and put offer in

Check before getting interested

Check before deposit

 

Selling a property

General steps
  1. Hit up sales agency and let them know you want to sell
  2. Hit up conveyancer to write up a sales contract
  3. Wait

My Checklist