Getting into the property market can be challenging – as a first time buyer without experience it can be daunting. From saving for a deposit to making a purchase that you hope will bring on returns, many feel overwhelmed and scared. With the right expert at your side however, it doesn’t have to be. YNM Real Estate is the best partner you can have if you want to get into the property market.
Here are some of the ways you can get into the property market today
Rentvesting
Rentvesting is a concept where buyers purchase a home in one area then rent it out to tenants while living somewhere else. This allows you to be able to live where you want while rentvesting but also gives you the ability to invest in something a bit cheaper which may provide a better rent yield or capital growth over time.
Consider purchasing an apartment instead of a full family home
An apartment – or even a smaller townhouse in the outer-ring suburbs – are almost always cheaper investment options than a house in the centre of the hustle and bustle. There will always be a trade-off between location, size of a property and the price – apartments, while sacrificing on space, allow you to still stay within the location of your choice and could act as a stepping stone to your ideal sized house.
Research undesirable areas
Many areas go from undesirable to desirable over time – consider researching neighbouring suburbs to understand if they are the next up and coming place to be. This can be a good strategy if you plan to invest for a longer period of time – but it will take time.
