Hello all, Havent visited for a while. Been thinking about building my first IP. I am looking at a new land estate in the north part of adelaide. I feel as though, if i can get a reasonable priced block of land <100k and build a sort of villa for around 100k and fork out another 20k or so for extras, eg. air cond, floor coverings ect. I will be left with a mortgage of approx 220k and I feel that rent wont be too far off of covering these repayments. My wife and I have good jobs and have the money to cover the extra, no probs.
My question is, does anyone have experience building an IP?
what are some of the pros and cons? I was just thinking that I can build a nice modern low maint home on a low maint block for a good price. Its just a matter of waiting half a year or so to get it built.
We currently are buying our home and plan on using the equity from our home to fund the IP.
Any advice/opinions will be greatly appreciated.
Thanks
Andy
My question is, does anyone have experience building an IP?
what are some of the pros and cons? I was just thinking that I can build a nice modern low maint home on a low maint block for a good price. Its just a matter of waiting half a year or so to get it built.
We currently are buying our home and plan on using the equity from our home to fund the IP.
Any advice/opinions will be greatly appreciated.
Thanks
Andy