Why invest in property before migrating to Australia?
If you’re thinking of migrating to Australia, investing in a property before you jump on the plane will make the move a whole lot smoother. There are numerous important benefits that ensure that, when you do arrive, you can do so with the peace of mind that you and your family are already financially stable in Australia.
Why is this so important? No matter how good your credit rating is in the country you’re coming from, it will not follow you into Australia. This means that when you arrive in Australia, you won’t be able to get financing for a car or home, or apply for a credit card or even cable television. In addition, most lenders require new immigrants to have 12-18 months’ work history in Australia before they will lend money to you. What it all boils down to is that, without a credit rating, you will be paying everything in cash, which is not an ideal situation for many.
However, if you can show a rates notice for an Australian investment property and provide proof of payment for a mortgage, you will enter the country having already attained a credit rating, making everything a lot easier on you and your family.
In many instances, clients are also able to re-draw the original deposit on arrival which they can use for a deposit on their OWN home in Australia – It’s sort of like 2 properties for the price of one.
Australia is a high tax country – owning a carefully chosen investment property will reduce your on-going personal tax liability and in nearly all cases, the tax man actually pays you each week. Another significant financial benefit for many new arrivals is having access to a lump sum of CASH courtesy of the Aussie tax man.
There are many reasons why investing before migrating is a good idea, but one that is rarely considered is an understanding of the Australian way of life. Having gone through the process of buying Australian property, you will be familiar with the different ways things are done in Australia compared to other countries like South Africa, the UK, China, etc. The experience that you will gain with lawyers, property managers, accountants, and so on will make dealing with future transactions a lot easier when you are living in Australia.
How we help
PR Australian Properties takes the guesswork out of buying investment property. We do this through constant research on the entire Australian property marketplace, taking into account the economy of the area, population growth, infrastructure development and more to identify the supply and demand for properties that will generate a profitable return. Our proven 10 Point Property Investment Selection Tool takes the guesswork out for you.
Once we have identified a suitable property for you, we will then assist you in organising finance and opening an active Australian bank account. We also provide a complete cash flow analysis with each property to show what funds are needed and when. We understand your concerns as an investor and with our specialist local knowledge and extensive experience in the industry, we are perfectly positioned to guide you through the unfamiliar procedures of purchasing an investment property, as well as provide valued-added advice and resources to manage your investment into the future.
Find out more about choosing the right property to invest in