Investing before buying
There is a new trend in Australia of picking up investment properties as a first home. According to Mark Bouris of Wizard Home Loans, it’s a smart financial decision to “[pay] off their mortgage while still living somewhere affordable.”
The reasoning with this is simple…
- Invest in a rental property
- Build equity by letting the renters pay down the mortgage
For the Aussies that do this, they cannot afford to buy a home in the areas that they want to live. So investing is their way into the property market. Investments in Idaho, including single family homes, are nowhere near the prices of places like Australia’s east coast. However, rental properties in the Lewiston and Clarkston area still seem to make good investments. In fact, because they are so much lower they are great investments.
Take a look at our housing statistics pages to see the average prices of homes in the area. For one reason or another there are always people looking for a place to live whether they’re college students or people just waiting to build their dream home. Contact us and we’d be happy to discuss investment potentials in your price range.
