There's an established way of investing in property in Adelaide. However, there are also alternatives that often provide even better results. To that end, we have a look at rentvestment, a new way many Adelaide buyers are purchasing investment properties, and discuss how it works.
What is rentvestment?
Rentvestment is an alternative strategy that's meant to offer the benefits of Adelaide property investment without all the lifestyle sacrifices. It involves renting your primary residence and buying a home as an investment elsewhere.
Rentvestment in Adelaide could work for you – here are just a few of its advantages:
- It enables you to buy more affordable property further away from the city.
- With rentvestment you needn't compromise on where you live.
- It allows you to focus purely on profit when picking a property.
- May allow you to get into the property market sooner.
This may not be the conventional path to property wealth but as you can see, rentvestment's advantages are considerable. That's because it gives you freedom to buy property wherever you can afford, in areas that are more likely to grow in price. All the while continuing to rent where you want to live.
The most affordable areas to buy your first investment in
A 2016 First Home Buyer's Australia survey found that the most challenging thing about buying your first property is accumulating a deposit and grappling with housing affordability. Make it easier on yourself by buying in one of the suburbs that CoreLogic RP Data revealed as some of the most affordable in the country:
- Brahma Lodge: the median house price here is $265,578 and it's only 20km from Adelaide.
- Minyip – pop across the state border to Victoria where the median house price is only $100,210.
When it's the right time for you to buy property, the first thing you should organise is your first property investment loan. Here at Advantage Finance we will take the time to understand you and your unique situation to tailor a finance solution to suit you.
To find out more and start moving up the property ladder, get in touch today.
