When most people think about buying their first property, they usually think about buying a home that they’ll move into, decorate as they please, raise a family, and create happy memories. But is this really the wisest financial decision? The other option that you have available to you is to purchase an investment property and use this property to generate the income needed to help you buy an even better first home.

As experienced Northern Beaches buyer’s agents, we understand how challenging this decision can be. Ultimately, each buyer has a different budget and set of preferences, but in this article, we will take a closer look at some of the advantages that buying an investment property (over a home) as your first property can offer you.

Home Prices Are At An All-Time High

Since the pandemic, the prices of homes are at an all-time high, especially in more affluent areas. You may not be able to afford to buy a home in the area that you want to live in, so this is where buying an investment property can be useful. Call one of our Northern Beaches buyer’s agents to recommend the ideal investment property based on your budget, preferences, etc. Let this property generate an income for you and in a few years’ time, you may be able to purchase your dream home.

Enjoy Flexibility For A Little While Longer

Renting offers you a lot of flexibility, whereas living in the home you own can often tie you down. If you want to enjoy freedom and flexibility for a little longer, and perhaps do some travelling, then an investment property is an ideal solution. You can even get a rental agent to handle everything for you, and you simply collect your monthly rental at the end of each month.

Get Your Foot In The Door

Purchasing an investment property as your first property allows you to get your foot in the door in the property industry. Take the opportunity to ask as many questions as possible without the pressure of having to purchase the perfect home. You just need to find a property that suitable tenants would want to rent. Get an idea of the tax benefits on offer and the cash flow you can expect to enjoy.

Are you looking for a reputable Northern Beaches buyer’s agent? Here at Lock & Key Property Buyers, we are a team of trustworthy and experienced agents ready to help you buy your first home or investment property. Get in touch with our expert team of real estate consultants today to begin the process!