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Wipe Your Mortgage Sooner Through Property Investment

Wipe Your Mortgage Sooner Through Property Investment

There are numerous reasons why people become involved in their first investment property. Some wish to retire early others see property as a fantastic long-term investment.

Did you know that purchasing property for investment can assist you in wiping your mortgage on your current home sooner?

If we look at an investor who may have a $200,000 mortgage on their existing home, purchasing an investment property and selling it in 10 years, the profits can almost wipe the original mortgage.

History has shown that property prices in Australia have grown at an average annual rate of 8.75% per annum since 1978. Whilst it is true that we do experience periods of enormous growth and other of very slow or sometimes negative growth, the fact remains that over long periods of time property makes an excellent investment.

Should an investor purchase a property for $300,000 today they stand to make a handsome profit of approximately $250,000 after taxation in 10years, should we experience an average annual growth rate of 8.75%

Property investment in Australia is very attractive. The Government have excellent policies that encourage investment in property, offering substantial tax savings as well as the opportunity for an investor to provide options for their family. This can include early retirement, wealth building or something as simple as paying off the family home sooner.

In the example tabled, we are assuming an interest only loan which covers the stamp duty and all other costs associated with the purchase of the investment. The interest on this loan is tax deductable and can provide substantial tax savings.

The property growth is assumed to average 8.75% per annum (which it has done in Australia since 1978). Understand that growth varies from year to year and the table is an indication only, however should history repeat itself then property will continue to be an outstanding investment now and in the future.

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Space Saving Tips To Tidy Up Your Home For Sale

Remember when we were younger and wanted to hide things from our parents or make our room look cleaner faster so we could get some playtime in with our friends? Well this idea will give a whole new feel to putting stuff under the bed.

In the bedroom

Take the bed to new heights with bed risers. These can be found for $10 at Target; they are sturdy and can be stacked to raise the bed higher. If the closet is about to burst at the seams then under bed storage boxes can become the closets new best friend.

Everyone has seen those infomercials for Space Saver bags, the ones where the excess air is sucked out using a vacuum. They are great for saving space and storing extra sheet sets and blankets underneath the bed without taking up any space at all.

In the closet

Tired of showing up to work wearing mis-matched shoes? Over the door shoe racks can typically run around $25 at Target and hold 34 pairs of shoes. Some over the door hangers even have an area on the bottom to put shoe boxes. Those with children can find them in smaller sizes as well.

For the kitchen & bathrooms

Stuck with a small kitchen and bath area with little or no cabinet space? Well there is one place that is one of the most unused places in an apartment, under the sink. Special equipment is not needed because there is nothing to install. Little plastic baskets come in a variety of colours and they can hold the cleaning supplies and bottles in the kitchen and in the bathroom they can hold those extra soaps and shampoos.

In the home office area

Tired of misplacing important documents? Unable to find a paper clip or pen? Utilise old spice jars, don’t get rid of them, reuse them. These are great for getting those paper clips or push pins out the bottom drawer.

Get a desktop organiser that can easily sit on top of the desk or counter. Some even come with places to keep office supplies easily labelled. These labelled organisers can also be used to sort incoming and outgoing mail.

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