The houses on Channel Nine’s the reality TV show The Block are set to go under the hammer, but will the renovated properties represent a sound property investment?
According to BMT Tax Depreciation, the four properties were purchased for an average of $950,000 each, and over $700,000 per property has been spent in additional works. They are expected to fetch $1.1-1.2m each at auction, and BMT has identified The Block as a potential property investment goldmine.
“If an investor is to purchase one of these properties for the anticipated $1.1 to 1.2 million, they represent great value based on the overall expenditure,” said BMT director Bradley Beer.
He added that an investor could claim over $30,000 in deductions during the first full year, and a cumulative total of $140,000 in the first five years of ownership – but explained that thousands of dollars’ worth of legitimate depreciation tax breaks are often overlooked by property investors.
“Research shows that 80% of property investors are failing to take full advantage of property depreciation, and are missing out on thousands of dollars in their pockets,” said Beer.
Carbon tax to increase cost of buying
Poor housing supply to affect property investors
Increased housing supply in Vic set to ease capital growth rates
Can you afford to buy in this suburb? Find out how much you can borrow
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out