With the start of 2025, now is the perfect time to reassess your property investment goals and ensure your strategy aligns with the current opportunities.
Here are five key areas to review and maintain to maximise your investment:
- Mortgage Rate and Review
Evaluate your current mortgage rate—when was it last reviewed? Many lenders offer competitive rates to new clients, but existing customers often pay a “loyalty tax” in the form of higher rates. The longer you’ve been with your lender, the greater the potential impact. At Ray White, you can access a free, independent mortgage broker who will conduct a home loan health check and, if possible, help you reduce your repayments. [Click here for more information] - Insurance Coverage
Ensure your property is adequately insured for unexpected events. Policies may have changed over time, and it’s crucial to check that your building and landlord insurance are up to date and cover all relevant risks. Ray White can guide you to insurers who specialise in landlord insurance, offering comprehensive coverage at competitive prices. - Improvements and Maintenance
Review past inspection reports or consult with your property manager about necessary maintenance or potential improvements. Planning for these expenses can help you spread costs over time and take advantage of potential tax deductions at the end of the financial year. - Depreciation Schedule
Have you set up a depreciation schedule for your investment property? The value of the building and its fixtures decreases over time, and a Tax Depreciation Schedule allows you to claim these losses as deductions, reducing your taxable income. Ray White partners with specialists who can assess your property to ensure you maximise your deductions. - Property Value and Management Services
The property market—both rental and sales—can shift rapidly. Ensure you have up-to-date information on your property’s value, as this can influence your investment strategy and potentially unlock equity for further purchases. Additionally, review the performance of your current property management team to ensure they are optimising your investment and maintaining your property to the highest standard.
Lachlan McCraw and the team at Ray White Lara are here to assist with all aspects of your property investment, ensuring your success in 2025 and beyond.