Using a property investment strategy to buy your dream home

By

February 10 2020
Share

As property prices in Sydney and Melbourne continue to heat up, investors have been given a timely reminder that they can utilise property currently on market as a way of eventually acquiring their dream home.

In a recent recording on nestegg's sister publication The Smart Property Investment Show podcast, Stuart Snell explained his journey towards his dream place and the savvy purchases along the way.

“I divested myself of three properties – two investment properties and an owner-occupied property – about three years ago. And I pushed myself into my primary property investment where I am now,” Mr Snell explained.

The property investor explained that the average Australian has most of their investments in equities due to superannuation, so it’s wise to diversify through the property market.

“Acquiring property and using property to generate wealth makes total sense because most people’s other main asset will be their superannuation.”

The property investor also highlighted investment in the asset class can be a primary place of residence as long as investors have the right mindset.

“Purchasing a primary residence is a tax-effective means to generate wealth. The main thing we’ve always thought about is, ‘How will it resell?’ and then livability. Will it suit your needs or the needs of others? Because the saleability is where you want the widest market possible for when the time comes up.”

Mr Snell noted that his property investment along with his superannuation strategy can eventually be a way for the investor to semi-retire through downsizing.

“The reality is I’m in my 50s now, 52 about to turn 53. I would say three to five years and then we’ll look for a different option. I’ve already got some ideas that might be outside of Sydney.”

“I think we’d be looking to relocate somewhere up northern New South Wales and purchase somewhere there where we would potentially have a longer term horizon and to base, and then use some of that

About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

sections

most read

sections

most read

sections

most read

sections

most read

sections

most read

sections

most read

sections

most read

Most read

Age Pension increase prompts Australians to review their finances

Latest Podcast

ANZ warns Australians to stay alert for scams during end of financial year

Resources

There is $17.5 billion in lost and unclaimed super across ...

Invest