Ok we are looking at another property within the next few years. We have a few options:
Buy existing - rent out for a few years ( so we get benefits of an investment property ) - then move in and renovate. This will be a more solid property that just needs cosmetic work.Buy existing - rent out for a few years ( so we get benefits of an investment property ) - then knock it down ( this will be an older house suitable to rent but ok to demolish later) and build our dream home. Move in nothing to do.
Buy land- build- move in no investment property benefits
Buy land- build- rent out then move in ( investment benefits but someone is living in our dream home - so it will be 2nd hand)
What would you do? What have you done?
I've done rough costs and (not including benefits from "investment") it will all cost the same in the long run