ARE YOU LOOKING FOR ALTERNATIVE WAYS TO BUY YOUR FIRST HOME?
HAVE YOU CONSIDERED BUYING YOUR FIRST HOME AS AN INVESTMENT PROPERTY?
Buying your first home in Australia is no easy thing to do. It is very difficult to save a deposit and enter the housing market in an area you want to (and need to) live in due to employment, study, family and lifestyle factors.
A growing trend in Australia is younger Aussies buying their first home as an investment property (and renting it out) while renting (or staying at home with the parents) in an area that you need to live in. This is rentvesting.
But why would you buy a home to invest in rather than live in??
Quick example of Rentvesting
Say you want to buy a three-bedroom home in Melbourne’s inner ring, but the house prices in the area mean these homes are out of your reach (budget). You could try and save more. You could give up and live in an outer ring area. Or…..by Rentvesting you may be able to rent in an ideal property you want to live in right now (i.e. inner ring), while you also buy a property in a outer ring area where prices are more affordable and rent this out (as an investment property).
First we connect you with an FHBA Broker who can help you determine your borrowing capacity, funding options and budget.
Once your budget is known we will assist you in deciding what property type of property you want to invest in as well as the location you want your property investment in.
Once you found a home you like, your FHBA Coach will guide you through the settlement process from start to end, because we know it’s your first time. Your FHBA Broker will also be there to assist you finalise your home loan.
Once you have purchased your rentvest property you will need to find a property manager or lease out the property yourself . Your FHBA Coach can also help with this step.
FHBA (including our FHBA Services Community) can also help you get protected (e.g. landlord insurance, building insurance, income protection) and assist you organise other services you may need such as utilities and connections. Now it is time to start earning rent!
Disclaimer: The information on our website including this page is general in nature and should not be relied upon. It does not take into account your personal circumstances. Before making any financial, property or investment decision you should seek advice from a licensed professional. Make an enquiry now if you would like more information on what services we are licensed to provide you with.