I have just read steves book 0-130 and was very impressed with making money from day 1, iam in the situation where i am looking for a house to either invest or live and then save for an investment after that, i have read 100 books on all investment areas and i have a decent size share portfolio but at the same time i know an investment house is better to be building up i am keen to have my own house and not rent – tough one (lifestyle vs common sense??) im not sure
G’day Rickyw…
You’re all over the place…
Buy your own home first.
Cheers
Bill
Bill O’Mara
Real Estate,Mortgages, Option Writing & Forex. [email protected]hi all
disagree Bill
ricky
reward yourself with a nice home later on.[
]regards westan
Hi rickyw,
We had a nice house (farm) and just sold it so that we can rent !!![:0)] It finally settles this Friday – YAY [
]We wanted to get rid of our Line of Credit, and invest in a safer way, but in a big way. We have owned our own home for a few years now, and the novelty has all worn off!!
We are excited to be renting again, and let someone else pay the rates! [
]Nobody else can make this decision for you because it is a lifestyle vs. investments.
It took us about 7 months to make up our minds, but when we did, it was like a light had just gone on AND STAYED ON… The decision was right for us.
I hope you can make the right decision for YOU and your circumstances.[
]Good luck,
Del
Your first PPOR isn’t goging to be your last, so don’t get caught in the dream too much, use common sense even inthe purchase of your PPOR it is a good testing ground for keeping the emotions in check when buying a house.
Personally my vote is buy your PPOR first leverage from it to buy many investment properties and work up to the next PPOR from there. Well that is what path we are on, the sale of our house (hopeful sale) will pay out our line of credit giving us better equity in our porerties and allow us to buy up to the next one. Our progress will be slower than Del or others buy that is our plan.
BTW, get a plan and stick to it.
Cheers
Leigh K[]Carve your own path and lead the way …
I agree with Westan
Fudge111[
]Hi peoples,
I’m going with Bill and the Enjolady.
I prefer the security of my own home. I come from a family that always rented. Moving every couple of years was not fun. I do realise that your PPoR is a liability, however it is sooo worth it to me.Sue [
]“Be careful not to step on the flowers when you’re reaching for the stars”
In my opinion.
If you are tossing up between renting and buying from a purely financial point of view then I say buy.
Find a home where an interest only loan will be the equivalent of what ever you are prepared to pay in rent, plus expenses if you want to include them.
Buy it and live there.
Save your money to buy further investments or what ever.
Hopefully the value of the property increases, and goes into your pocket rather than a landlords.
In the future, you can upgrade to a new PPOR, and still keep the original home as an investment.
Your cash flow may be a slightly worse off, but this should be more than compensated by the increasing value of your home.
And owning a home has far more psychological benefits to most people, than renting some one elses property.
Dino
“If you don’t know where you are going, every road will take you there.”
Well, you wanted opinions.
Only you can make this decision. You really need to determine your goals first and then decide which path is the most appropriate.
Del is spot on, it’s a lifestyle vs investment choice.
Good luck.
]
]
]
]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
