Hi all,
wondering if I could get some advice on which way to go, if you were perhaps in my shoes that is.
I currently have a property in Newcaslte that is now leased out as an IP. Over the past two years, like most property it has grown in equity. I am now renting in Sydney (due to work) and would love to buy into this market. The question is I am in a comfortable position to purchase another IP, In say Newcastle or any other cheaper market, and keep renting in Sydney or I could continue to save for at least another year then purchase a PPOR in Sydney (obviously a smaller two bedroom unit).
I am intending to live in Sydney for a few years and I supose the emotional side of owning where you live would come into it.
I realise the answer would most likely come down to the individual's decision but any previous experiance or comments on which way you would go are much appreciated.
P.S,
This Forum is great, I have learnt alot already.
wondering if I could get some advice on which way to go, if you were perhaps in my shoes that is.
I currently have a property in Newcaslte that is now leased out as an IP. Over the past two years, like most property it has grown in equity. I am now renting in Sydney (due to work) and would love to buy into this market. The question is I am in a comfortable position to purchase another IP, In say Newcastle or any other cheaper market, and keep renting in Sydney or I could continue to save for at least another year then purchase a PPOR in Sydney (obviously a smaller two bedroom unit).
I am intending to live in Sydney for a few years and I supose the emotional side of owning where you live would come into it.
I realise the answer would most likely come down to the individual's decision but any previous experiance or comments on which way you would go are much appreciated.
P.S,
This Forum is great, I have learnt alot already.