Whatever your personal situation is, it’s important for all women, married and single, to take charge of their finances and build enough resources so that they can retire in style – and I mean early retirement of course!
Feeling ill at ease about investing in anything in an uncertain economic climate? Never fear, says TV property expert Chris Gray. His sure-fire strategy for investing in property is also a proven buffer for any economic condition.
Many people have the means and drive to buy an investment property that will bring them long term, solid capital growth. However not knowing where to start, especially living a long way from solid growth areas, can stop them in their tracks.
Historically, the rule of thumb when buying an investment property was “buy where and what you know” and indeed following a get rich, new development scheme to Queensland or other exotic areas are not recommended, but what if “what and where you know” is either overseas or in an area where capital growth is minimal?
You may think that the market determines the price of property, but have you ever thought what would happen if the bank thought otherwise? An incorrect valuation by the bank can literally wipe tens of thousands of dollars from the value of your assets and these days it can happen all too frequently.Myth #3 The bank valuation on your property is the final word on how much you can borrow or refinance through your lender.
Usually when we borrow money from a bank, either to refinance or to buy direct, a bank will conduct a "bank valuation" on the property to ensure that the value of the asset is in line with the price we have prepared to pay for it.