Buy My First Home or Investment Property

[Chelsey Richardson]

Hi,

I am struggling with whether I should purchase my own home first or an investment property. I am from the east coast, but I've lived in Phoenix, AZ for almost 5 years. I don't plan to live in Phoenix for the remainder of my adult life however, I do believe there are great opportunities here for investment properties. 

What are the benefits and disadvantages of each? I want to make an educated decision. I have done research, but I'd also like to get feedback from the experts here!

[Zane Belden]

@Chelsey RichardsonI think if you buy a property as an investment (buy below market value, generate cashflow, appreciation, etc.) it would be fine you choose to live in it rather than renting it out.  Assuming you are currently renting, you will be putting your rental expense into your own equity rather than your landlords equity.  

So that said, buying your own home and living in it is an investments in itself.  But rather than buying it for yourself based on its charm, style, etc., buy it based on its good investment potential.

Good luck!

Zane