Agent Insight with Marianne Cornwall
Property investment can be very rewarding and the outlook for Gladstone is exciting with the growth of activity leading into 2013 and beyond.
First National owner Paul Markwell said in Australia overall, property has delivered an average 12% return for the past 24 years, even before tax and maintenance costs.
"It's not surprising that a recent survey shows 59% of home buyers and investors plan to purchase an investment property in the next year," he said.
When it comes to tax tips, Investors should at least visit the ATO website which monitors property investor claims and often issue warnings or notices of the types of common mistakes made.
The best advice though, to receive the best return for your money, is to seek the services of a qualified professional such as an accountant or financial advisor when creating an investment strategy, learning tax implications and deprecation.
Investors can save thousands of dollars' worth of tax savings when they learn to appreciate depreciation - a common accounting factor used to determine the impact of wear and tear on a property over years.
With the forecast of the population of Gladstone to double in population in the next 20 years buying in any of the suburbs of Gladstone appears to be a great investment.