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:

1. Option #1: Rentvesting [02:47]
1. A chance to “try out” a property before settling down [05:18]
2. The deductibility of expenses in holding the property [06:11]
3. Thinking long-term on a property that is investment-grade [08:20]
4. The importance of choosing a good accountant & getting great advice [09:35]
5. Get the most tax benefits from brand new properties [11:42]
6. Make sure you have future, strategic plans coming into the market [14:01]


2. Option #2: Parental guarantors [18:48]
1. Consequences of buying a bad asset & debt build-up [21:25] 


3. Option #3: Co-ownerships [24:21]
1. Working out the “what-ifs” right from the start [26:09]
2. Tenancy in Common vs Joint Tenancy [28:28]
3. 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/)

 

If you enjoyed today’s podcast, don’t forget to subscribe, rate 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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