Hi there.
I've been searching for a house in my chosen town for a couple of months. I've been looking at houses but an agent has just told me about a unit. I haven't done any research on units and wonder if I could get some advice from 'the clever ones.'
This unit is for sale in a block of 4, with 4 more behind. It is a 2 b/r and I'm not yet sure of its age, (under 20yrs however). It rents at $165 pw. The agent advises that "The owner wants to sell it to an investor because the tenant has been in it for 5 yrs and wants to stay for another 10yrs. The tenant works closeby, cycles to work and wants to stay there until he retires." The body corporate is $800 pa with rates of $1200 pa.
The part of town that these units are situated in is within a short distance of alot of industry on that side of town. There is a high school and TAFE college within 2km of the units however, as well as shops closeby, but it is mainly closer to industry.
I'll be looking at it on Friday and would appreciate any advice on what to look for with a unit. My main concern is whether there could be a glut of units in the future, but my positive side thinks that perhaps if it was paid for within 15yrs, which would be possible, then if vacancies were everywhere then I could lower the rent. I also wonder that the position may be catering to a far too small group, ie, workers in the industries nearby, or perhaps students. Confusion!!
Apologies for my lengthy topic.
I've been searching for a house in my chosen town for a couple of months. I've been looking at houses but an agent has just told me about a unit. I haven't done any research on units and wonder if I could get some advice from 'the clever ones.'
This unit is for sale in a block of 4, with 4 more behind. It is a 2 b/r and I'm not yet sure of its age, (under 20yrs however). It rents at $165 pw. The agent advises that "The owner wants to sell it to an investor because the tenant has been in it for 5 yrs and wants to stay for another 10yrs. The tenant works closeby, cycles to work and wants to stay there until he retires." The body corporate is $800 pa with rates of $1200 pa.
The part of town that these units are situated in is within a short distance of alot of industry on that side of town. There is a high school and TAFE college within 2km of the units however, as well as shops closeby, but it is mainly closer to industry.
I'll be looking at it on Friday and would appreciate any advice on what to look for with a unit. My main concern is whether there could be a glut of units in the future, but my positive side thinks that perhaps if it was paid for within 15yrs, which would be possible, then if vacancies were everywhere then I could lower the rent. I also wonder that the position may be catering to a far too small group, ie, workers in the industries nearby, or perhaps students. Confusion!!
Apologies for my lengthy topic.