Hi Guys,
I am a first home buyer who has been reading these forums for a long time (about 2 years), taking in every ones advice/opinions trying to figure out when to dive into the market. I have missed many boats and opportunities and should, coulda, woulda when i had the chance 2 years ago. I just kept thinking things would come down.
Now my predicament has come to a head. I am getting married in 2 months and am going to require somewhere to live. I have a few options and i thought it was time i posted my situation up here just to see what everyone has to say.
Please keep in mind that i am very interested in investing my hard saved ($250,000) deposit in property for wealth creation, but have the view that i would like a house of my own first.
Here are my options!
- My parents have an investment property that they are willing to kick out the tenants of and let me and my future wife live in rent free for as long as it takes us to find our own place. This is great, but the obvious risk is that i still wont have a foot in the market and prices continue to rise. Leaving me behind the 8 ball again.
- I buy a property now before things get way out of hand! At the risk that they don't get out of hand and all the doom and gloom comes to fruition. Leaving me having paid way more than i should have.
Any advice/opinions are much appreciated.
Cheers!
I am a first home buyer who has been reading these forums for a long time (about 2 years), taking in every ones advice/opinions trying to figure out when to dive into the market. I have missed many boats and opportunities and should, coulda, woulda when i had the chance 2 years ago. I just kept thinking things would come down.
Now my predicament has come to a head. I am getting married in 2 months and am going to require somewhere to live. I have a few options and i thought it was time i posted my situation up here just to see what everyone has to say.
Please keep in mind that i am very interested in investing my hard saved ($250,000) deposit in property for wealth creation, but have the view that i would like a house of my own first.
Here are my options!
- My parents have an investment property that they are willing to kick out the tenants of and let me and my future wife live in rent free for as long as it takes us to find our own place. This is great, but the obvious risk is that i still wont have a foot in the market and prices continue to rise. Leaving me behind the 8 ball again.
- I buy a property now before things get way out of hand! At the risk that they don't get out of hand and all the doom and gloom comes to fruition. Leaving me having paid way more than i should have.
Any advice/opinions are much appreciated.
Cheers!