Kieren Nolan Mortgage Broker/ Mortgage Consultant/ Justice of the Peace | Finance

Kieren Nolan Mortgage Broker/ Mortgage Consultant/ Justice of the Peace

Phone: +61 433 091 114

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23.01.2022 https://www.domain.com.au//why-it-pays-to-use-a-mortgage-/ Here's a good article on how are why to use a broker. We've been helping people beat the banks for over 15 years, get in touch to learn how.

09.01.2022 As property prices continue to rise locking out new entrants to the market, prospective buyers are often faced with two options; purchase property outside their preferred suburbs and commute to work and lifestyle-oriented suburbs. Or continue to rent and maintain their beachside or inner-city lifestyle. But for those who are still eager to enter the market, there is a way to get the best of both worlds. ‘Rentvesting’ is the term coined for when you purchase a property for inv...estment purposes in an affordable location and continue to live and rent in the area of your choice. An example of how the market is evolving, it’s a helpful entry point to the market which still offers flexibility, in comparison to being an owner-occupier. Millennials aren’t interested in purchasing a property in the outer suburbs and then having to commute into the CBD, says an MFAA accredited finance broker. Rentvesting allows your rental income to cover the mortgage expenses, so you can keep living the lifestyle you want without it costing you any money. A recent Mortgage Choice survey highlighted an increase in ‘rentvesting’ from 21 per cent of investors to 37 per cent over the past twelve months alone. But while this strategy may appear ideal to many, it’s not suited to everybody. It’s still a foreign way of thinking, says the finance broker. In the past, the great Australian dream was to buy a home on a quarter acre block and then do everything you can to pay that down as fast as possible in the hope of living debt-free. ‘Rentvesting’ is quite the opposite. It says we’re okay with good debt as long as we stick to our budget and keep using the money to invest further. You’ve got to have an open mind and be comfortable with debt. To ensure you have the means to make ‘rentvesting’ work for you, contact your broker for advice on good debt and other strategies that will allow you to maintain your current lifestyle.