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Property Strategy for Expats
Australians choose to live the life as an expatriate for many reasons. These may include the experiences different cultures offer, generally living in another country or the superior work experience that can be gained from working for a large multi-national organisation. From my experience, more often than not, it is the substantial pay increase they receive when a higher wage is combined with a lower tax environment and major living expenses like rent are included in the employment package. Whatever the reason, expats should have a sound property strategy.
Expat Property Representation
Over our 18 years in business we have represented literally hundreds and hundreds of expats sourcing and purchasing property for either investment or owner occupation. Likewise in recent years we have represented many expats when they have wanted to sell as they see excellent value in utilising our vendor advocacy service. As one client said to me many years ago, “why would I trust advice from anyone other than the people that bought me the property in the first place?”. It is this pattern of thought that has provided the impetus for the growth of our vendor advocacy service and made it the success it is today.
Throughout our experiences with expats we have largely seen three types of people emerge. The first are those that stay very short term, maybe one to two years as it is purely an experience for them and nothing else. The second are those that are medium term, generally take a position before they are married or a married couple before they have children and look to stay between 5 to 10 years. Then lastly there are the long termers, these are the people that have become accustomed to expatriate living and all that goes with it and love residing in a different country, but also enjoy coming home to Australia…but only for a visit.
Whichever category an expat may find themselves in (or not in), it is important that they take full advantage of what is available to them while they live abroad. This includes the high incomes and fantastic tax advantages available. The importance of having a plan cannot be understated as it is a chance for the expatriate Australian to set themselves up for life by using their income power while surrounding themselves with a team of expert advisors including accounting and taxation, financial advice, property and legal.
If you would like to find out more about how we can guide you please contact us so we can assist you in developing the best plan and achieving optimum property outcomes – (07) 3368 1604 or email us.
