Being an only child, Mum loved the idea of keeping my husband Jordan and I close by. So close, in fact, that when I told her we were saving to invest in a house of our very own, Mum and Dad were more than happy to help by building us our very own granny flat out the back of their property. The ability to save on rent was a blessing in itself – after all, our ’empire’, as Jordan lovingly calls it, wasn’t going to build itself – but being so close to family was definitely a welcomed plus.
Since we were totally comfortable with our lives in the granny flat, we decided we’d start with an investment property. It made sense to invest in the property market sooner rather than later, and our intention was to eventually renovate whatever property we purchased and either move in ourselves, or use the equity from the place to buy something else.
All of our memories, our families, and everything important to us is here on the Central Coast, so it was really important for us to stay here.
Both of us grew up on the Central Coast, and have lived here our whole lives. Actually, Jordan was my boyfriend in sixth grade! Eventually, we moved on to different high schools and lost touch, but met again at a party when we were 18. I guess the rest is history, as they say. All of our memories, our families, and everything important to us is here on the Central Coast, so it was really important for us to stay here. There is literally nothing better than coming home to Mum and Dad’s after a long day of work and looking out over the acres of land out the back. It might be a while before we have little ones, but when we do, we wouldn’t dream of taking them away from all of this.
The decision to invest made the most sense to us at the time – we could stay where we were, find a place close by that we could keep an eye on, and eventually turn it into our own dream home. It was really the perfect scenario. Or so we thought.
Once we’d committed to starting our search, we’d slow down at every ‘For Sale’ sign we drove past, and I’d be flicking through real estate sites nearly every chance I got. We figured that we’d take our time, but it was important to me to understand what was out there and what kind of deposit we’d need to be saving. Our minds were overflowing with plans and possibilities (okay, more mine). Needless to say, we were excited!
The thought of making these plans a reality was a little more daunting, though. Luckily, I work at ING and Jordan and I both bank with them, so the first decision was an easy one. I set up a call with Gerard, our dedicated home loan specialist, and he talked us through the basics. Before we’d even decided on a neighbourhood, we knew exactly what we’d need to do to save for a deposit, and what our next steps should be.
Knowing we could lean on Gerard as questions arose really set us up for our journey. We were comfortable in knowing we had plenty of time to save for our deposit and find the perfect little investment property.
An investment property can be a great way to start the home buying journey. You may be able to build equity from that property that can then be used later down the line to purchase another house. Find out more about buying an investment property.
Whilst Sam is an ING employee, these are her own views as an ING customer Testimonials appearing on this site are individual experiences of customers that have used our products and/or services. We do not guarantee that they are typical results that consumers will generally achieve. Testimonials are not necessarily representative of all those who will use our products and/or services. A Pre-approval is not a final or formal loan approval. A pre-approval is simply an indication of your ability to borrow funds based on the information provided.
The information is current as at publication. Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. Deposit products, savings products, credit card and home loan products are issued by ING, a business name of ING Bank (Australia) Limited ABN 24 000 893 292, AFSL and Australian Credit Licence 229823. ING Living Super (which is part of the ING Superannuation Fund ABN 13 355 603 448) is issued by Diversa Trustees Limited ABN 49 006 421 638, AFSL 235153 RSE L0000635. The insurance cover offered by ING Living Super is provided by Metlife Insurance Limited ABN 75 004 274 882, AFSL 238096. ING Insurance is issued by Auto & General Insurance Company Limited (AGIC) ABN 42 111 586 353 AFSL Licence No 285571 as insurer. It is distributed by Auto & General Services Pty Ltd (AGS) ABN 61 003 617 909 AFSL 241411 and by ING as an Authorised Representative AR 1247634 of AGS. All applications for credit are subject to ING's credit approval criteria, and fees and charges apply. You should consider the relevant Product Disclosure Statement, Terms and Conditions, Fees and Limits Schedule, Financial Services Guide, Key Facts Sheet and Credit Guide available at ing.com.au when deciding whether to acquire, or to continue to hold, a product. Before interacting with us via our social media platforms, please take a minute to familiarise yourself with our Social Media User Terms https://www.ing.com.au/pdf/Social_Media_User_Terms.pdf.