I am interested in getting some perspectives on this scenario:
If you had $400k to spend on property and had no other property. Would you:
Buy one $400k property and spend a while paying it off before being able to afford another (however that property would have land and maybe be within 30mins train to city)
Or buy a $250k property and then in a few years by building equity by making extra repayments be able to afford another $250k property. However those two 250k properties would probably be units unless they were rural properties.
Assume your income wont change much.
Lets say your long term goal is to build wealth and income and you will rent as a PPOR.
What would you prefer to do?
If you had $400k to spend on property and had no other property. Would you:
Buy one $400k property and spend a while paying it off before being able to afford another (however that property would have land and maybe be within 30mins train to city)
Or buy a $250k property and then in a few years by building equity by making extra repayments be able to afford another $250k property. However those two 250k properties would probably be units unless they were rural properties.
Assume your income wont change much.
Lets say your long term goal is to build wealth and income and you will rent as a PPOR.
What would you prefer to do?