Are you looking to buy an investment property or your own home? 

Far too often I see first home buyers go and buy a 1 or 2 bedroom unit as their first property. They then outgrow that unit within 10 years and sell it for the same price they bought it for nearly 10 years later. My goal is to help as many people as possible avoid this mistake, while still getting you to your end goal, whether that is buying your dream home, or building out a portfolio.

Here are 5 tips to help you make your decision going forward:

1. Set clear financial goals (5-10 Year Plan) 

  • Are you planning to buy a home to live in or investment property? 
  • What financial goal are you chasing? Passive income? Debt free home? 
  • Do you want to buy multiple properties?

2. Understand your borrowing capacity 

  • What is your budget? Are you comfortable with your monthly repayments? 
  • Have you spoken to a mortgage broker?

3. Choose the right asset type 

  • Are you buying a house, townhouse, unit or apartment? 
  • Will this property have strong resale value in the future?

4. Consider Rentvesting 

  • Have you thought of renting where you want to live and buying an investment property elsewhere to enter into the property market? 
  • Could buying property interstate help you get to your goals earlier?

5. Have an exit strategy 

  • Are you planning to sell the property in 5-10 years? 
  • Are you looking to build a portfolio and continue to extract equity? 
  • Is your decision today going to get you closer to your goals? 
    If you’re not sure where to start, get in touch via contact form on the home page and I'll be in contact shortly.