As more and more superannuation horror stories are voiced, more Australians are seeing the benefits of having and maintaining their own Self-Managed-Super Fund (SMSF). Establishing your own SMSF not only gives you the authority to govern your own funds, but also gives you the freedom of using your super to invest in property and create a secure investment that will sustain your retirement. There are many benefits in
using super to buy a house
and an investment like this may be the answer to your retirement prayers.In its current state, the share market is highly unpredictable and using super to buy a house presents an investment opportunity that has high earning and growth potential. So how can you prosper using super to buy a house? A SMSF can be leveraged to buy property using borrowed funds. All you need is enough in your SMSF for a deposit, ongoing maintenance costs, and upfront costs, and for a residential property you can typically borrow up to 70% of the total property amount. Your SMSF alone pays for the property in question so you don’t have to pay anything out of your own pocket. Not only is this a more stable option for your super than shares, but you will also receive many other benefits including ongoing tax concessions. You will only pay 15% of tax compared to the usual 46.5% tax that you pay for property purchased outside your super. And if you want to sell your property once reaching pension phase, you pay no Capital Gains Tax. If you have always dreamt of an earlier, richer retirement, then invest sensibly using super to buy a house or property. There are always inherent risks when it comes to investing your super; however, if you execute investments wisely, your super has the potential to give you a retirement far beyond your expectations.
We can advise and assist you to get the highest return from your investment under your own personal circumstances. We assess your circumstances and give you valuable advice about making wise investments for your future so you can control your financial destiny.