I want to buy an innvestment property at the beginning of the year in my name. I would be a first time homeowner. However, my bf and I want to buy a house together For our primary home as well. I have $0 debt currently. What’s the best way to go about this and how long should I wait to buy the second house?
not sure what exactly you are asking. which do you purchase first? if that's your question id say both, house hack.
Your goals may be counter to one another, so you will have to prioritize. If you absolutely must do each of these things, it is mostly a matter of what you can afford. If it were me, I would work to show him the value of investing. He likely thinks it is "smart" to buy a single family home as one's primary residence, even though that is not actually the case in most instances.
Is it a compromise to look at buying a multi-unit property to live in? Whatever value there is in "home ownership" will still be there five years from now. The gains, tax advantages, etc. that can compound with an investment property are enhanced the sooner you start.
I’m sorry if my Post was confusing.
House 1. In his name only (currently live in but want to rent out)
House 2. Future house in only my name.(wanting to rent out) I qualify for first time homeowners.
House 3. We want to buy this house together. This will be our home.
I’m trying to figure out if I should buy house 2 or 3 first.
I can wait on house 2, however I don’t know if I could take advantage of being a first time homeowner if we co own house 3 or if that would even apply.