With interest rates at record lows, and a booming property market, Australia is attracting a great deal of interest from overseas buyers.
If you have interest in purchasing property in Australia there are a few things you should consider.
It’s important to shop around for a good property – in fact, you may need to do some research into what makes a good property in Australia, which may differ significantly from your homeland. In fact, it will also differ by location within Australia.
Find out which towns and suburbs perform better, and look into the local services, transport links, and schools etc.
Take time to investigate the areas you’re considering buying in, and seek professional advice on property values, recent sales, and the growth outlook for the area.
We may be able to help you with this, or can connect you with an investment specialist, with the knowledge and access to research that will ensure your success.
Contact us for more details or with any questions.,
KNOW THE RULES
As an overseas buyer, it’s important to make sure you understand of all the legalities of buying in Australia. The rules change regularly, and this is where you need the aid of a professional to prevent getting into any sticky situations.
There are restrictions on the type of property you can buy, and you will need approval from the Foreign Investment Review Board. It’s also worthwhile seeking advice from tax specialists, both in the country you live, as well as Australia, to get a full picture of the tax implications of your investment.
KNOW THE COSTS
Once you’ve decided on a property, be sure to factor in all costs, such as: Local Council and water rates, strata levies (also known as Body Corporate rates) for apartment buildings, and Stamp Duty. There are a few other costs involved, as well as required paper work, which you can learn about by contacting us.
With accreditations to over 35 lenders, including Australia’s biggest banks, as well as a whole variety of smaller and specialist lenders, we do the shopping around for you. You’ll never need to look anywhere else!
If you’d like to explore your next loan with Zippy, here’s what you’ll need to begin with:
• Proof of Residency
• Proof of Income
• Proof of Employment
For more details on eligibility criteria, contact us today.
Comparison Rate calculated on a secured loan amount of $150,000 for a term of 25 years. WARNING: This Comparison Rate is true only for the example given and may not include all fees and charges. Different terms, fees and other loan amounts might result in a different Comparison Rate. Fees and Charges Apply. Terms and Conditions are available on request.