19 Nov The key benefits of turn-key property investment
One of the most straightforward and appealing approaches to real estate investing in Australia is to purchase what is known as turn-key property.
At Power of Property, we work with both first-time and experienced property investors to buy move-in ready properties that can help to make the business of growing a property portfolio as hassle free as possible.
What is a turn-key investment property?
A turnkey property is one which is ready to rent out as soon as the purchase is complete, with all the fixtures and fittings in place, e.g., the property is painted and carpets laid, blinds and air conditioning have been installed, fences and landscaping have been completed, etc.
There are also no further building costs when you buy a complete, move-in property. Power, water and sewage services have been connected, so there are no additional earthworks costs. In short, buying a turn-key investment property in Australia means there is nothing that needs to be done before it can be put on the rental market.
At Power of Property, when we recommend a move-in ready property, this is precisely what we mean. There are no further costs and the property is entirely complete and ready to be rented out straight away.
The benefits of investing in turn-key property in Australia
A key benefit to buying a move-in ready, turn-key investment property is that tenants are able to move in immediately, meaning you will start earning rental income as soon as the purchase has been completed.
The process of buying a new, complete home and land package is also relatively straightforward when compared to purchasing an older, established house or apartment.
This is also an especially cost effective approach for investors because with newly built property, there are no immediate maintenance, renovation or upkeep issues to deal with. This not only means you are getting value for money from your investment, but you also have greater peace of mind knowing that the condition of the property is sound, and you are unlikely to (at lest initially) to have any sudden or unexpected repair bills to deal with.
Overall, we have found that a newly built, turnkey apartment or house and land package makes buying an investment property a good deal more accessible, enabling people to become successful investors regardless of whether they have previous experience in real estate investing or not.
Talk to Power of Property about buying an investment property
If you think a turn-key property could be an effective property investment strategy that meets your needs now and into the future, talk to Power of Property today. As investment specialists, we work with developers across Australia and so we have exclusive access to new turn-key properties that meet the needs of both first-time and experienced property investors alike.
If you want to find out more about about how easy it can be to start growing your property portfolio, call Michael Lawton on 0407 785 560 or Danielle Charlton on 0411 268 795, or book an online property strategy session today.