With younger people, they don’t want to be fixed as much. Once you buy an owner rock, you’re locked there for a minimum of five to 10 years until you really get on your feet, you earn more money, the kids get through daycare and all the rest of it. And then I saw this in my parents when they retired. I said, don’t sell your own, occupy property here. Just hold it, put tenants in it. Go and travel caravan, do all this , you know, have a small base somewhere that you can come back to, let it have four or five more years in the market and then sell it. And like, no, we can’t have people living our property. You know, it doesn’t feel right. Come on and live there. And I think a lot of people have that, too, right? They don’t want people living in there. It’s my own. But you fixed. Whereas if you didn’t have that my property thing, you could just give back the keys, jump in a caravan, drive overseas and like live your life and you’re not fixed to one thing, right? Cuz your investment’s looking after themselves.
And kind of like to your point of as that price point gets higher, the gap gets bigger. So I’d offer a few reasons. And number one, because of that, when Covid hit, I was paying seven 50 a week rent in a two and a half meal property. I live in a high rise, so the strata is probably 50% of my rent. The other reason I guess is I don’t think that’s a good investment. So I don’t think in that example, it would be like for like, right, like I wouldn’t be comparing a 7% growth investment asset with a 7% property that I wanna personally.
Live in. So that’s interesting as well, right? Like you enjoy living in the CBD age. You wanna be around all the action. It’s not a great investment. So you probably wouldn’t buy that, right? You just rent it, let someone else have the issues, you enjoy the lifestyle and then go spend your two and a half somewhere else.
Exactly. And I’ve got a good landlord, been there for seven years on a month to month, and I don’t think she’s seen the property. So I don’t think she’s gonna kick me out anytime. Yeah, like you said, get to enjoy the lifestyle benefits of where I want to live. I’m sure as my circumstances change, that’ll change. And I guess you’re investing kind of proves to that point that you can move around as your circumstances change and not have those high costs of entering and exiting a property, I’m sure if I had kids one day, I probably would want a larger place than where I am now, and rent vesting gives you that flexibility to do so. And then whilst taking all that money to them and put into what makes sense in terms of the numbers.