Are you looking into investment property
? You may be doing so as a way to boost your current income or as a means to supplement your retirement portfolio. Regardless of why you wish to follow this path, you need a good real estate investment firm to work with. With many melbourne property investment
to work with, how do you go about selecting the one which best meets your needs? The process doesn't have to be difficult, yet care must be taken, especially when you are a foreign investor looking to purchase residential property in Australia. The real estate investment company must ensure certain steps are taken to complete the transaction.
When purchasing any urban land which isn't commercial, notification will be required and approval must be granted. This is true for residential properties, hobby farms, guest houses, holiday flats, and more. Approval is only granted in certain situations, however, which is why an experienced real estate team is needed. In many cases, approval won't be granted. The following situations are exceptions.
When a foreign company has an established business in the country, one which is substantial, they will be granted the right to purchase property for senior executives who will be residing in the country for a minimum of 12 months. Only two properties may be purchased for this purpose, unless special permission is granted.
Foreign nationals may be able to invest in property if they hold a permanent resident visa. The same is true of those individuals who qualify for a visa under a special category, such as those who are citizens of New Zealand. Foreign nationals married to an Australian may purchase as a joint tenant and those foreign nationals with a visa that allows them to reside in the country for no less than 12 months can buy developed residential property. New properties aren't eligible in this situation.
In addition, foreign investors may purchase a new dwelling, whether it be a home unit, town house or house and land package, is it is bought off-the-plan. the same is true of homes which are newly constructed or under construction, yet have never been occupied or previously sold. One needs an experienced real estate company to ensure this is the case.
The laws regarding foreign investors tend to confuse many. For this reason, any investor needs to seek advice before proceeding. It's best to detect problems ahead of time, rather than trying to fix mistakes after they happen. Don't invest in Australia without assistance. It's just not worth the risk and can cut into one's return on investment.