Adelaide, South Australia (PRWEB) October 28, 2014
Bartley Partners, specialist property accountants, based in Adelaide, South Australia, have confirmed that investors have increased their presence in the market from last year’s full 40 percent of the overall home loans being issued. They believe that this fact is substantial proof of a recovery for the real estate and housing market for Adelaide.
Managing Partner, Paul Bartley, commented, “Though we are still seeing a sluggish property market in some parts of the state, the fact that over forty percent of home loans are being initiated by investors is a very good sign. When seasoned investors are willing to risk a considerable amount of capital on a residential purchase, this indicates that investors have more confidence in the South Australian market and see our real estate as a sound investment.”
Bartley Partners Accounting works with investors to help them avoid the pitfalls that can turn a great deal into a disaster. Founders, Paul Bartley and Christopher Overton, are Fellows of the Australian Tax Institute and well experienced in the Adelaide property market. They offer several key pieces of advice:
- Determine the key reason for buying this particular property in this area. Avoid making snap decisions.
- What is the budgeted return on the property? Know the numbers.
- Before purchasing any property, be sure to set up the structure correctly examining options such as Trusts, Superannuation or Hybrids. Bartley Partners works with many investors to assist them with this all-important step.
- There is no legal minimum required for a deposit on an investment property. Often, a Real Estate Agent will ask for 10%, but this is not required by law. Offering less can lower your risk factor as well as the added benefit of preserving cash flow during the settlement process.
- Once contracts have been signed but prior to settlement, it’s the new owner’s responsibility to insure the property. If the house burns down or is burglarised, the investor stands to lose thousands of dollars. Insurance is relatively cheap in comparison.
- When buying commercial properties, check the GST clauses and learn whether the contract price is GST-inclusive or GST-exclusive. A highly trained Adelaide accountant should review the contract to see whether the purchase may be GST-free under a specific exemption.
The accountants in Adelaide warn that buying a property where the money will come from the sale of another property can be dangerous and leave the investor in a precarious situation. They recommend waiting until the sales contract on the first property has gone through the cooling off period.
Bartley Partners offers a wide range of business and property accounting services. They have a new office conveniently located on the Glen Osmond road financial precinct. The staff at Bartley is well-experienced in real estate and taxation matters. They also offer professional bookkeeping and accounting services to individuals and small business owners. The experienced team at Bartley Partners can handle everything from business taxation, and property structuring, to consulting and estate planning.
About Bartley Partners
Founded by Paul Bartley and Christopher Overton, Bartley Partners Accounting strives to give its clients a wide array of professional services. They work with small and medium size businesses in all industries. The Adelaide accountants utilise today’s most innovative bookkeeping solutions to enable their clients to run their businesses without the stress of accounting and taxation problems. Paul is a registered Mediator with the Office of Small Business Commissioner, Workcover SA and sits on the board of the National Institute of Arbitrators and Mediators. Both Paul and Chris are Fellows of the Australian Tax Institute. For more information: http://www.bartleypartners.com.au
CTA, FTIA, B.Com(Acc), DipFP
322 Glen Osmond Road
Myrtle Bank, South Australia
Phone: (08) 8338 1033