What Are Your Options If You Can't Afford to Buy Where You Want to Live?

While some first home buyers are lucky enough to find the perfect
property & place to buy in, there are also a number of those
who don’t - but there are options. 


In this episode, we’re going to discuss choices you have if you
can’t afford to buy where you really want to live. We’re covering
rentvesting, co-ownership and getting a guarantor for your loan,
along with their pros, cons, and risks involved.


So, if you’re a first home buyer who needs a little push in the
right direction, tune in to today’s episode for advice, tips, and
resources. 


See you on the inside!  


 


Episode Highlights:
Option #1: Rentvesting [02:47] A chance to
“try out” a property before settling down [05:18]
The deductibility of expenses in holding the property
[06:11] Thinking long-term on a property that is
investment-grade [08:20] The importance of
choosing a good accountant & getting great advice
[09:35] Get the most tax benefits from brand new
properties [11:42] Make sure you have future,
strategic plans coming into the market [14:01]
Option #2: Parental guarantors [18:48]
Consequences of buying a bad asset & debt build-up
[21:25]  Option #3: Co-ownerships
[24:21] Working out the “what-ifs” right from the
start [26:09] Tenancy in Common vs Joint Tenancy
[28:28] Put everything on paper - contracts,
agreements, and ownership structure [31:43]

 


Link/s from the show:


Get our FREE First Home Buyers course!
(https://www.homebuyeracademy.com.au/freecourse) 

Our article on Rentvesting
(https://homebuyeracademy.com.au/PREPARATION/rentvesting)

Our article on choosing to buy a house or apartment
(https://homebuyeracademy.com.au/ACTION/apartment-should-you-buy)

Our article on parental guarantors
(https://homebuyeracademy.com.au/PREPARATION/parents-guarantor-mortgage)

Our article on why you should never buy off-the-plan
(https://homebuyeracademy.com.au/ACTION/why-you-should-never-buy-off-the-plan)



 


Connect With Us:


Home Buyer Academy Website
(https://www.homebuyeracademy.com.au/)



 


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and share the show! There’s more to come, so we hope to have you
along with us on this journey!


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