If you want to buy a home but you’re struggling to get your dream off the ground, it’s really important to stay focussed, keep your eye on your goal and turn down the volume on all the negatives.
There are always ways to make things happen and sometimes you just need to think outside the box.
The important thing is to get into the market, and buying your dream first home might be too big a stretch right now. But you can take the first step.
That first step might be buying an investment property and become what is now termed a “rentvester”. Being a rentvester means that you’re renting a home in an area you want to live while you buy an investment property where you can afford. This is a smart strategy that is an ideal stepping stone to your big goal.
The reasons this strategy is so popular, particularly amongst the under 30s, are:
- You can still live in the area that suits your lifestyle regardless of property prices.
- It gets you into the property market so you’re not missing out of capital growth while you’re saving.
- It has tax benefits, particularly if you buy a new property
- In time, it gives you the ability to leverage the equity in the property so you can buy another property or you can sell this property and another.
The key here is to do your research and buy in an area that has forecast capital growth and high rental demand and yield.
We’d love to help you buy that house or investment property if you’re ready to get into the market.