Self managed super fund buying property in Sydney, New South Wales
Property investment is an incredibly popular form of long-term wealth creation. But just how much of a hit will your back pocket take during the early stages of building your investment portfolio?
There is no magic number to summarise how much money you will need to start investing in property. Primarily, the amount you will need will be determined by the location and type of property you are targeting. Costs vary considerably between houses and units, and regional and city-based locations. Property varies considerably between Australia’s capital cities, primarily due to population, but also due to other economic and employment drivers.
What’s more, your investment strategy will impact how much you need to spend on your property. It’s important to remember that a low entry cost doesn’t necessarily mean a property is primed for significant growth.
