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Will your first property purchase be owner occupied, or an investment?

Will your first property purchase be owner occupied, or an investment?

The prospect of buying your very first home is an exciting one. There are so many factors to think about. Of course, one of the main considerations is price. The amount you can afford to borrow, will have a large bearing on your choice of property. However, many people are unaware of one factor that has a significant impact on their borrowing capacity. This factor is whether the property will be owner occupied, or an investment.

Owner occupied vs. investment

When you’re thinking about buying your first home, it’s important to realise that whether you’re going to rent it out, or live in it, impacts how much you can borrow. This can have a large impact on the type of property you can afford to get, its size, and its location.

New changes to stamp duty legislation in NSW mean that first home buyers seeking to live in their new property may actually be able to afford a more expensive property than previously. Due to their deposit going further, if no stamp duty is payable.

However, this doesn’t mean you’re out of luck if you’re looking to buy your first home as an investment. In this situation, it can be a good idea to look at properties in cheaper areas – even if these areas aren’t near your current location. Buying in a cheaper location can have quite an impact on the sort of property you can buy.

Assessing your options


At Bee Finance Savvy, we understand just how exciting, and how confusing buying your first property can be. That’s why we offer an obligation free, consultation service. Our wonderful broker Sutherland Shire based broker Desiree will take the time to have a chat with you, to discuss your circumstances and goals. She’ll then be able to tell you what your options are, and what your borrowing capacity will be in various scenarios. This is invaluable, as it will help you make important choices, such as whether your first home could be an investment, or owner occupied.

To explore your options, call or text Desiree on 0455 131 937 or 1300 140 554. Desiree can also be reached at enquiries@beefinancesavvy.com.au .  Alternatively, you can fill out the contact us form on this site.

Would you like to hear what customers have to say about Bee Finance Savvy? Take a look at our WOMO reviews. https://www.wordofmouth.com.au/reviews/bee-finance-savvy-miranda

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