5 Step Guide to Investing in Property

1. Consider your options

Many people invest in property to build their wealth.  Choosing whether to buy a house or a unit, as well as the location to buy in, are also important decisions.

If you’ve been making extra repayments into your mortgage and the value of the property has increased, you may have built up equity in your property. It's possible to borrow against this equity in your home or investment property for further investment.

2. Do your calculations

The amount you can borrow will depend on your income and living expenses, your credit history and your current assets.

Use our calculators to make informed decisions about borrowing money and repaying your loan.

3. Search for a property

Obtaining pre-approval before you start looking for an investment property determines your affordability so you can search with confidence. Conditional pre-approval is valid for up to 3 months.

We recommend you seek legal advice before signing a contract.

Tips for finding the right property:

  • Research property sales history in the area you want to buy and familiarise yourself with the prices in the area.
  • Make sure you check for things such as schools, shops and public transport nearby which may be relevant to your needs.

It is worthwhile organising a building inspection to ensure that there are no structural problems or termites, and a valuation by an independent real estate agent or valuer1.

1.Victoria Teachers Credit Union may still require a valuation from our panel of independent valuers.

4. Protect your property

Landlord or Building Insurance is required before you sign the mortgage documents and the loan contract. It's worthwhile to arrange insurance straight after paying the deposit - don't wait for settlement. If your property is managed by a body corporate, you may need a special kind of cover known as Strata Insurance.

Victoria Teachers Credit Union is an agent for two of Australia's leading Insurance companies: Allianz  and CGU Insurance. To obtain a quote call our friendly Insurance Consultants on 1300 654 166, or obtain an online quote for Allianz Insurance.

5. Choose your loan

A Line of Credit Loan provides a convenient way to access the equity in your home, allowing you to access funds without making further applications.

We offer a range of flexible Home Loans to suit your investment needs. View our Home Loans.