In this short but informative video, Domenic Nesci, Co-Founder at Wealthi and Carla Nesci, Lending Specialist at Wealthi, revealed some surprising details about the advantages of investing in property versus spending the same amount of money to buy your own house right away.
The dream of buying your own home remains one of the illusory and anxiety inducing goals for many Australians.
While it’s not a bad thing to aim to have your own home, too many people go through a lot of pain and sacrifices in pursuit of this dream, which remains elusive to many.
Is it really worth saving a huge amount of money to pay for a deposit for your home only to be under constant stress while repaying the mortgage for the next 20-30 years?
“Home buyers could face massive borrowing costs, and sometimes they don’t even get what (the house) they want or they end up buying something that is too expensive.” - Domenic Nesci, co-founder at Wealthi.
Wouldn’t it be better to save for a deposit for an investment property that will generate ongoing rental income that will help you build equity which can be used to buy your own home later?
If you are still trying to make up your mind on whether to spend your hard-earned savings to buy your own home or to buy an investment property, this is a must viewing for you.
Domenic, who has more than a decade of experience in property investment, shares some useful data to help you crunch the numbers to compare the pros and cons of property investment and home ownership.
Likewise, Carla outlined the current rates and packages on offer from some of the big banks and mortgage lenders. She also revealed some practical ways to optimise your mortgage repayments using allowable offset or top-up strategies from lenders.
“With more interest rate rises on the cards, this may be the best time to review your mortgage situation.” – Carla Nesci, lending specialist at Wealthi Money.
Given today’s environment when house prices are predicted to fall as interest rates are expected to rise (home owners to face higher mortgage repayments), this may be an appropriate time to reconsider this important conundrum – home ownership or property investment?
At Wealthi we find and finance your property investment. Our team does the research and negotiations, making it easy for you to put your money to work. If you want to learn more or know your borrowing capacity, feel free to book a call with our team:
Domenic is a Co-Founder at Wealthi, host of the Wealthi Podcast and writes weekly insights at Wealthi Research. Connect with Dom on LinkedIn.
Carla is Wealthi’s Lending Specialist and shares regular insights at Wealthi Research. Connect with Carla on LinkedIn.