Can you afford to invest in property?
The question should really be, “can you afford NOT to invest”, whether it be in property or some other form of investment? While everyone should be investing to give them more options in life, property investment may not be suited to everyone.
Here is a quick checklist for you to look at to see if you have the means to invest in property:
- Minimum $50,000 single income or $60,000 joint income and
- A property with at least $100,000 in equity or
- $30,000 in savings or
- A guarantor with equity in their property.
With the tax concessions available, and depending on your personal circumstances, an investment property may cost you as little as $80 per week*.
To find out how much you can borrow and what the repayments will be, you can use our online calculators, however for a more accurate picture we suggest you contact us, RAMS Home Loans or your own lender.
*This is not guaranteed, and is dependent on your personal financial situation and other factors.
