SECURITY IN EQUITY
Building a house is like buying a house at a wholesale price.
Often you can sell a house for more than it cost you to build it or alternatively, you might choose to build a house, rent it out as a long-term investment and watch the value of your investment grow. Â Often people make money just building their own homes. Â You may know of families who build a new house every 3-5Â years. Â They are using the equity built up over timeÂ to upgrade and build wealth. Â As their home grows in value, so does their financial security as they can use the equityÂ to borrow against to do all sorts of things, including building an investment property.
Using the equity in your home to build an investment property can be your vehicle to future financial freedom.
Ultimately Â you may be able to use the money you make from your investment propertyÂ to pay off your home mortgage. Â It's a practical and manageable process that could make a world of difference to the quality of your retirement. Â It's certainly an idea worth considering. Â Why not get in touch with one of the experienced financiers listed at buildinwarrnambool.com.au who understand the financial mechanics of making building an investment property a reality for you.
'Equity is a home owners golden egg. Â Equity can be used to borrow against for almost anything! Â Equity value is defined by the costÂ difference between what you paid for your house and the value of your house today. Often, building a house can create instant equity and long-term equity built up over years may enable you to invest and build wealth for a prosperous financial future.' Â - Build In Warrnambool
STAMP DUTY SAVING
Buying an existing home worth $400,000 will cost you anywhere up to approx. $20,000 extra on theÂ purchase price of your home. Â Stamp dutyÂ variances depend on whether your home is for live in, investment and whether or not youâ€™re a first home owner. Â Â When you build a new house you only pay stamp duty on your land purchase which gives you aÂ substantial saving. Â That saving can be put towards building your new home or as simply a saving in your pocket!
To learn more about the advantages of building visit buildinwarrnambool.com.au