Don’t want to give up the city living but are keen to get onto the property ladder? Here’s a few reasons on why rentvest and how to do it 🕺🏻
Rentvesting allows buyers to purchase in lower-cost areas while renting where they may need to for work or lifestyle. The property can be located in a different state or region. It may be purely an investment or somewhere to move into down the track. ✈️
Rentvesting is a trend that is picking up, particularly amongst younger first home buyers in metro areas. So what exactly does this term mean, and how can you figure out if it is for you? Find out below.
What are rentvestors?
Rentvestors are people who rent the property they live in but are investors in the real estate market. The property they purchased might be in a completely different state. They may own it purely as an investment to sell down the track or see themselves moving into it down the track.
This trend is growing as properties in the inner-city become less affordable to young buyers. However, because this is often where this demographic prefers to live, rentvesting is the perfect way to take a first step in property investment.
There are two types of rentvestors. The first type are people who enjoy the inner-city lifestyle but cannot afford to buy a home there. They might purchase a property somewhere else and let it gain value over time.
The second type of rentvestors are those that are constantly moving around due to work or lifestyle, so they might choose to purchase a property somewhere, but actually live in short-term rental properties.
To read more, click this article here.