Today we will cover the story of a couple, in “Story Time” – Buying an investment property before first home in Australia
This story is about a couple who migrated 5 years ago to Sydney. When they migrated only one of them got a job and the other partner couldn’t find a job. They figured out that buying a home in Sydney is not possible, hence in the first year, they bought an investment property – a house in Brisbane. 😎
Time went on and years pass by. By the third year, the investment property in Brisbane had a decent amount of equity and rental was also stable and good from it. Hence, they decided to buy another investment property – another house in Brisbane.🤩
Years pass by and they had a baby. Finally, the second partner also found a job. By the fifth year, the second investment property also had decent capital gains and they now decided to buy the house to live in it in Sydney. They decide to pull equity from both the investment properties to pay for the deposit for a nice home in Sydney. Now they a pretty much settled with their own home in which they live, have decent jobs, have a kid and they also have 2 investment properties in Brisbane.😍💪
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Why is this story important? This story is about action. They have friends who migrated at the same time, didn’t buy anything, still trying to save enough to have a decent amount of deposit to buy the dream home (first property) in Sydney 👿. So while other people are still trying to figure out how to buy that first property for self-living in Sydney, this couple did the action and bought investments in other affordable pockets of Australia and rode the equity wave, and got decent capital appreciation to buy their own home later.
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Disclaimer: Articles in this blog are just the author’s or authors’ personal opinions.
It may or may not be correct. Please do your own due diligence and seek professional advice according to your own personal circumstances. The author or authors cannot be held responsible/liable for any content in this blog.
*all images are for illustration purposes only
