The start of a new financial year is upon us. A time to examine not only our taxes, but our broader plans for creating wealth and investing for the future. And with interest rates at an historic low, buying property as an investment option can’t be dismissed. Neither can the Toowoomba region.
Yes, our region is looking good and not just because of its charming architecture and tree lined streets. Toowoomba seems to be on everyone’s property ‘hot spot’ list in recent times, and the property industry are now talking about Toowoomba being situated in a capital growth ‘golden triangle’ in South East Queensland.
Why? Toowoomba boasts high levels of infrastructure, a diverse economy, one of the strongest employment rates across Australia, solid population growth, positive job growth forecasts and relative affordability.
However, positive overall market conditions and attractive borrowing rates are only half the picture when it comes to successful property investment. There are a some other key fundamentals. Here’s just a few:
Have a plan
Those who fail to plan, plan to fail. Upfront, determine what you’d like your property investments to achieve. If you have an investment property, a proactive property manager can also minimise ongoing costs and ensure you are maximising your returns.
Crunch the numbers
Work closely with your financier or broker. Even with one of the lowest median house prices of major cities and low interest rates, understand what you can afford both upfront and ongoing.
Get local insight
Where are the fastest growth areas? What are people seeking? Which suburb features sell? Knowing what to buy and where is paramount. This is where a strong relationship with a real estate agent who absolutely lives and breathes Toowoomba can be vital. I might just know one.
Words by Jen Taylor of Jen Taylor Properties