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Government cannot solve Housing Affordability

CEO of the Noah Group, Brett Marks, says that we have to start looking at how we can create their own solutions in relation to the housing affordability crisis instead of waiting for the government to take adequate action.

It’s hopeless to sit around waiting for the right time to buy property, Brett Marks says, as nothing “miraculous” is about to fix the housing affordability problem.

Although there has been much talk from the government, no rock-solid solutions have been laid down, and unfortunately too many people are waiting on the government to solve the problem.

“The reality is that for every 10 year cycle for the past 100 years, people have believed that property in their decade was too expensive to afford. This is not looking at the problem in reality. It’s a matter of talking with a Financial Planner and getting them to look for ways to organise your finances according to your circumstances so you can get into the property market as soon as possible.”

“If you are just getting started,” Brett Marks says “the Noah Group can show you how it is cheaper per week to rent the house you live in and purchase an investment property, because of the tax breaks you get for investment property.”

The Noah Group Financial Planners suggest the best approach to entering the property market is to buy with a view to renting a property out. Brett Marks helps people to see that there is no better time to get into the property market than now.

Another big part of the Noah Group services and another option for people wanting to purchase an investment property is, if you and your partner have over $120,000 in super between you, you can create your own self managed super fund (SMSF) and leverage it to finance the purchase of an investment property.

“You are far better off to buy a property which has the possibility of high capital gain and strong rental return,” Brett explains. “Whether you like the location or the design or the colour scheme is not important. You’re not going to live there this is your investment it is a money box for your future”.

Another recommendation the Noah Group would like to make, is that when you are looking for a place to live, you should look to rent somewhere that suits you i.e. somewhere that is close to your work, your family etc. Renting will also make it easier if you need to relocate for work purposes, or if you need to upgrade to a bigger place for a growing family.