Investing in Specialist Disability Accommodation in Victoria: A Guide to Getting Started
This article will guide you through the process of investing in Specialist Disability Accommodation in Victoria and help you get started sooner rather than later!
Why Invest In Specialist Disability Accommodation In Victoria?
The needs of people with a disability are growing, and this specialty type of housing is needed more than ever. This growth in the number of people with a disability has created new opportunities for growth in the specialist disability accommodation sector. The increasing demand for SDA homes requires investment in new accommodation, which drives increased demand for property. This new investment has created an opportunity for property investors to enter the market, and earn a return on their investment. Areas with high demand are more likely to experience an increase in property prices, which means your investment will be more lucrative. Furthermore, Victoria is in good fiscal shape, and it is forecast to remain so in the near future. This bodes well for SDA property investors, as the government is likely to continue investing in education, health care, and other services that support the specialist disability accommodation market in this area. Investing in Specialist Disability Accommodation gives you the opportunity to help individuals with a disability live fulfilling lives. It also presents you with the opportunity to earn a return on your investment, as the demand for these services grows.Finding The Right Property In Victoria
Finding the right property is one of the most important steps in the NDIS investment process. This is because NDIS Specialist Disability Accommodation has a Design Standard specifying the mandatory requirements to be met in order for the dwelling to be registered as an approved SDA dwelling with the National Disability Insurance Scheme (NDIS). So the first thing you need to decide is what SDA Design Category you want to invest in. There are 4 categories of SDA property in Victoria:Improved Liveability
Fully Accessible
Robust
High Physical Support
You will also want to decide whether you are interested in investing in a House & Land Package, an apartment, or another type of SDA dwelling. All these SDA design categories and dwelling types attract different types of returns, so it is important to understand SDA market demand and invest accordingly.Following Are Other Reasons To Invest In Victoria
There are many other reasons to invest in Victoria, includingStrong economic outlook: The Victorian economy continues to perform well, driven by strong population growth. This means increased demand for SDA services and greater potential for NDIS investment.
Strong population growth: The Victorian population is growing at a rapid rate. This has significant implications for the SDA sector, as it drives a growing demand for SDA services. It also means strong potential for property price growth.Melbourne Is Still King Of Property Investment
Melbourne is and will continue to be the premier location for property investors in Victoria for the foreseeable future. The city has a population of just over 5 million people, making it the second largest city in Australia, coming just behind Sydney. Melbourne is also likely to benefit from the rise of Asia and the digital economy in the coming years. However, it has an added advantage in the form of great proximity to the coast. This means that it has a more temperate climate than other cities in Victoria, prompting people to stay in the city longer.Should I Invest in Specialist Disability Accommodation in Victoria?
The short answer is yes! But while there are many potential benefits to investing in Specialist Disability Accommodation in Victoria, such as the potential long-term returns, there are also potential risks that you should be aware of. One of the most important things to do when investing in specialist disability accommodation is to mitigate your risk. There are several ways to do this, including:Choose the right property: As mentioned above, the type of property you choose has a significant impact on your investment. It is important to choose the right property type, which means you need to understand your investment goals, the type of participants who are looking for SDA housing, and the current market conditions. You should also ensure that you build to a higher standard of inclusions than the minimum SDA requirements, thereby future-proofing your investment.
Do your research: When deciding where to invest in SDA, it is important to do your research on the SDA sector, particularly with supply and demand in different areas for SDA homes. This information is published by the NDIS on a quarterly basis and NDIS Property Australia produces a comprehensive report based on these statistics. (Link to report download on SDA Resources page)
Connect With NDIS Housing Sector: If you’re planning to invest in properties that can cater to SDA-funded NDIS participants, you’ll be glad to know that you can benefit from the NDIS investment and also help the NDIS succeed in providing independence, choice and control to Australia’s disabled by connecting with NDIS Property Australia
We can help you save time, effort, and money by providing you with the information you need to make a qualified decision to invest and by giving you access to NDIS-approved housing around Melbourne; as well as helping you build a sustainable long-term NDIS investment portfolio.