The new catchphrase to add to your collection is ‘Rentvestor’. Who are they and how are they taking the property world by storm?
Typically speaking, ‘Rentvestors’ are under 30, living working in the larger capital cities or working ‘fifo’ (fly in, fly out). Close to a quarter of purchasers now fit the demographic of renting to suit a lifestyle but buying investment properties for the future.
By continuing to rent, ‘Rentvestors’ can have that perfect work / life balance in the inner city within a very tight radius of work but be just an easy walk of the restaurants, nightlife, bars and cafes in areas that make leisure time so much more enjoyable. But these are the areas that are largely out of their purchasing ability.
This clever demographic has recognised how to live where they want, seize opportunities to work overseas or travel extensively without the commitment of an owner occupied home. By using a very clever crystal ball, they realise that in 5 to 10 years, their lifestyle requirements are likely to have changed.
Thinking ahead, they are purchasing investment properties in areas that will grow in value and provide great rental return to assist with the mortgage repayments. In the future, it’s an easy step to either purchase further investments or use the equity towards a deposit on their own home.
Savvy investors are purchasing properties with great income for now but in the years to come they will make it their ‘family’ home. Pretty smart to secure a home loan at today’s prices and lending rates with a tenant that makes the repayments for you.
Whatever the plans are, right now South East Queensland has a great big magnifying glass over it. With sensational interest rates on home loans, great rental returns, an attractive lifestyle and growing job opportunities, properties under $400k are being snapped up by ‘Rentvestors’
We are certainly seeing a rise in enquiry for pre-approvals. With interest rates at a record low and the property cycle certainly in our favour, it’s a great time to be a purchaser of any kind including being a ‘Rentvestor’.
So how close to being a ‘Rentvestor’ are you? One quick call to 07 5562 0748 will get that first tough question out of the way and have you on the path to your future.