While we are all busy with our end of year checklists and making sure we’ve got everything we need for our holiday season celebrations, once that business is out of the way, it’s a great time to turn to future goals.
2022, much like the years before it, felt quite turbulent… what with interest rate hikes, elections, adjustments to regulations and natural disasters. But with all the speculation and hype thrown around, we managed to make it through the year.
What does the road ahead look like for you?
Perhaps you are growing your portfolio, making a big move, or finally taking that holiday you booked back in 2020.
Whatever your financial goals are for 2023, it is good to review your current investments to make sure they’re working in line with your goals.
For your existing properties, the New Year may signal the occasion to make sure your property is tracking well within the current market.
Is your return in line with similar properties in the area? Are there any upgrades required to the property to ensure it is performing at its best? Are you happy with your tenancy agreement terms, whether short or long?
If you haven’t already, take some time to plan ahead for the coming year. This is particularly important if you’re considering renovations or upgrades which may be of benefit to you come tax time.
If expanding your portfolio is on your radar, take time to research which areas are set to perform strongly in the years to come. You may need to look further afield at well-performing regional cities and towns.
The RE/MAX Australia network extends through many regions. Your property manager may be able to connect you with top sales agents within the region you are considering for your next investment.
Whether expanding, downgrading or simply maintaining your portfolio, your property manager is here to assist you in your 2023 plans, supporting through the lows and celebrating through the highs.