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Personally I would do the "old house on subdivisible block" thing. This is a central plank as far as my investment portfolio is concerned. But what you say is also fine. If you can find a house (not a unit or apartment ) in a metro area selling for $170, its pretty hard to go wrong in the...

With interest rates at their lowest level in 50 years, now is definitely the time to buy. There's no need to overspend or stretch yourself excessively. Buy what you can afford and trade up later. If it means living in a Bogan neighbourhood for a few years, so be it. Sometimes sacrifices are...