As real estate in regional Victoria continues to boom, now is the perfect time to kick-start - or even expand - your investment property portfolio.
Building your own investment property offers a myriad of benefits, from providing a secondary income stream, a nest egg for your retirement, to a tool to reduce your tax.
With planned infrastructure projects and upgrades to bring regional Victoria closer than ever to Melbourne, interest rates at an all-time low, relaxed lending criteria, and house and land packages available for less than $400,000, it makes sense to invest in regional Victoria today.
"The regional Victoria market is booming," says Metricon's Regional West manager, Simon Taylor.
"Affordability is a key factor, but lifestyle also plays an important role with more people eager to escape the hustle and bustle of the city, have extra land to enjoy with their family and experience the sense of community regional living can foster.
"This year we are on track to deliver our 9000th home overall in regional Victoria."
There are several advantages to building a new home as an investment property, instead of purchasing an existing one.
A newly built home is more likely to:
- Be more energy efficient and sustainable than an older property
- Produce lower maintenance costs and vacancy rates
- Reduce your risk due to the builder's warranty and new appliance warranties
- Achieve higher rental returns
- Have higher claimable depreciation value
- Result in better, more consistent cash flow, which normally equates to a higher resale value.
"A newly built home will also give investors exposure to more demographics," says Taylor.
"For rental returns it may be families looking to upsize, retirees looking to downsize, or tree changers wanting to try out the regional lifestyle before committing to buying a property of their own.
This year we are on track to deliver our 9000th home overall in regional Victoria.Simon Taylor, Metricon
"For resell, first home buyers looking to break into the market and take advantage of the First Home Owner Grant, or even other investors looking for a solid rental return, are keen purchasers of new homes under five years old.
"Find out how we can help you reap the benefits of Victoria's regional growth with one of our homes as an investment property today."
For more information on how you can invest in Ballarat with a Metricon home, visit metricon.com.au.
Alternatively, speak to the team at one of their local display homes.