Purchasing Property For Retirement, Is It A Brilliant Idea?

by Virginia Graham on February 1, 2012

With all of the current changes to the super rules in Australia, many people are asking themselves the question- is purchasing property a smart idea? The answer is no one actually knows the future but currently not a lot of people have done as well with anything more. The other fact we know is if we do not take command of our superannuation, then we will certainly not be well placed to retire.

There's been a massive inflow of people beginning to manage their own super funds. Many of these folk have invested in property, shares and fixed interest.

However the only thing almost everyone has basically made money at themselves is property.

The compliance and rules around funds are tough and put folk off for a bit but in the final analysis the majority want to retire and can't afford to if they don't manage their own super and acquire property with it.

Every day more and more folks are working this out. As home-loan broker for super loans we are having more folks come to us and ask about buying properties in their super funds. We only do the smsf loansfor super not set up the structures and trusts. We do however have some amazing business colleagues if this is what you are after.

The most important thing to remember about self managed super funds is that when you request advice for super funds you, not the counsel are liable if they give you wrong information, so its actually critical to only ask true experts at this space for advice.

We ourselves have done required groundwork to find out which associates we would align ourselves with and went to SPAA (the self managed super professionals association) to find similar minded super execs.

* This is educational only and shouldn't be depended upon as financial advice.

Virginia Graham manages Central Coast Mortgage Broker and is a finance expert.

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