Let’s Chat Rentvesting in 2024

InvestHer Property Let’s Chat Rentvesting in 2024!
Do you love where you live?

It’s safe to say, over the past couple of years, we’ve all learnt how important it is to cherish time at home and love where we live.

Maybe you love the Gold Coast, South Yarra, or Bondi and have been renting there for a couple of years. You might have some cash in the bank – some savings that you’re ready to invest in a property purchase. Unfortunately, with rising property prices as a result of low supply and increasing demand, purchasing somewhere in these areas may be out of your budget, leaving you feeling in a limbo of having *almost* enough for your perfect place.

BUT, it’s not all doom and gloom – this is EXACTLY where Rentvesting comes in.

 

What is Rentvesting?

Rentvesting – live where you love, buy where you can afford.

A combination of the notions of renting and investing, this is all about helping you to jump into the market whilst still being able to really LOVE where you live! It’s this unique freedom compared to the traditional concept of home ownership, that we really love.

The idea of having our very own home, has always been all about being able to say that we can stake claim to our very own piece of land, making it OURS – doing all of the little things that turn a place from a house to a home! That can really be an amazing thing, a huge life achievement that makes us feel like we’ve worked for what we have.

That emotional side to being an owner-occupier is so great, but from a strategic perspective – it’s really not for everyone. At the end of the day, it’s equally important to make sure that our decisions work best for our lifestyle and our finances! If you’ve purchased somewhere to live, but it’s not in your preferred area, it’s inconvenient and you’re just living there for the sake of it – are you really doing what’s best for your life?

So, because of all this, Rentvesting can be an amazing opportunity for property investors in 2024 – especially those new to the market.

To help you out, I’ve put together the three things that you MUST consider before going down this path:

 

  1. What are your long-term goals?

 

Goals are all about YOU.

By looking at your UNIQUE goals (not ones that you found on the internet, or your best friend told you about), you can get a great understanding of what’s right for you.

Whether it’s to do with budget or location, your long-term goals will give you a great insight into how Rentvesting will work for you, and if it’s the right option. At the end of the day, Rentvesting isn’t the be-all and end-all of property investing. Instead, it provides a great means to get your foot in the door of a property that works from an investment perspective, whilst also allowing you to live EXACTLY where you want to live. So, if that suits your goals and circumstances, don’t hesitate to take that next step!

From a long term perspective, Rentvesting can be the stepping stone to build up your portfolio, from an obtainable starting point. The property market can feel incredibly hard to jump into – starting off through Rentvesting can be an empowering pathway free of stress and financial burden!

 

  1. Strategy

 

Understanding your investment strategy is another key part of deciding whether Rentvesting is the right option for you.

In any case, high-quality property investment relies upon building a strategy around your unique situation, including income, and familial circumstances, as well as your short and long-term objectives. So, naturally, your strategy is heavily linked to your goals.

When talking about Rentvesting, growing a strategic plan starts with understanding your capabilities and desires from a rental perspective. Taking this into account, alongside your budget, will give you a great perspective of how your investment’s rental yield will help pay your mortgage, and potentially your own rent too.

 

  1. Location is STILL key.

 

This is arguably the MOST important factor in any property investment decisions.

It’s the same with Rentvesting! There’s one thing that we can’t stress enough – property is all about LOCATION.

Just because you can afford a certain suburb, or city, doesn’t necessarily mean you should purchase there. There’s a lot more to purchasing a property than just checking whether it fits in your budget. Locations in high demand, with a low supply of new houses, paired with strong macroeconomic factors, such as unemployment rates and migration patterns are key to making rentvesting work for you.

Interested in learning more about building a long term investment portfolio? We’re here to help guide you every step of the way!

At InvestHer, we’re all about helping women navigate their passion for property and finance in a way that builds confidence and financial security.

Give us a call on 0455 223 865, or get in contact HEREwe’d love to chat!