Have you ever thought of building an investment property?
Either you have multipe investment properties and would like to start from scratch and build it for today's economy, or you are a first time investor and would like to invest in income producing properties, Casa Mia Services will walk you through every step and make it easy.
Pros of building and investment property:
1. Great Depreciation
When a property is built new you are able to claim maximum depreciation for cost of construction over a few years, the internal fixtures and fittings because everything is brand new.
Seek a professional for advice on taxes and depriciation
2. You can build it for the Market
When you build an investment property from scratch, it will allow you to do research and talk to real estate agents to understand exactly what the market wants and what the market is willing to pay a premium for. Building an investment property could ensure. you that it would always be rented and that you get the rental yield that you are after.
3. Less expensive that an established investment property
You can purchase land inexpensively and build it for a rental and you can save money. Many times building could be worth it because yould save money in the construction of the property than investing in an established similar property.
4. Potential instant equity
After you have purchsed the land and built the property, you can go back to your lender and get that property re-valued. If you’ve payed a great price for your property and saved money in contruction material, then you could actually add value to that property right away and get instant equity. The equity gained could be used to invest in other land and build more properties.
5. Build for dual occupancy
You have the potential to build the property so that it could house more that one tenent or subdivided in the future. The house could also be perfectly positioned for you to build a mother-in -law suite.