Hi All,
I've been a member and reader for some time but this is my first post and am hoping for some sage advice and food for thought on my current investing plans...
I'm looking at buying my first property and have primarily been looking at Residential properties for either a PPOR or IP (+rent). I'm really open to any option just has to be the right buy on either livability or profitability.
I'm based in Sydney and have mostly been looking in the inner west for 2 bedroom semi's and terraces around retail hubs near train lines. I feel like I'm priced out of this market when prices for 2 bedroom semi's non brick go for 820 out at croydon on small blocks....
I have now been pondering the idea of commercial properties for residential + commercial use. ie those terraces or houses with shopfronts in the small retail hubs near train stations on on small main roads.
Is buying commercial property for the use of PPOR a good idea? What things do I really need to consider? And what things do I need to factor in when comparing the costs of a similar commercial property to a residential one (evaluating value)?
Speaking with real estate agents there seems to be alot of interest in them but from people that are not pre approved for commercial loans, I also feel that these types of properties would have alot of interest from residential renters in the future.
I'd be wanting to live there for around 10 years before purchasing a house as PPOR and hoping that this investment would gain significant capital to either sell or leverage for the PPOR if there were strong rental demands when I moved out.
Thanks for any pointers and your general thoughts on this type of investment!
I've been a member and reader for some time but this is my first post and am hoping for some sage advice and food for thought on my current investing plans...
I'm looking at buying my first property and have primarily been looking at Residential properties for either a PPOR or IP (+rent). I'm really open to any option just has to be the right buy on either livability or profitability.
I'm based in Sydney and have mostly been looking in the inner west for 2 bedroom semi's and terraces around retail hubs near train lines. I feel like I'm priced out of this market when prices for 2 bedroom semi's non brick go for 820 out at croydon on small blocks....
I have now been pondering the idea of commercial properties for residential + commercial use. ie those terraces or houses with shopfronts in the small retail hubs near train stations on on small main roads.
Is buying commercial property for the use of PPOR a good idea? What things do I really need to consider? And what things do I need to factor in when comparing the costs of a similar commercial property to a residential one (evaluating value)?
Speaking with real estate agents there seems to be alot of interest in them but from people that are not pre approved for commercial loans, I also feel that these types of properties would have alot of interest from residential renters in the future.
I'd be wanting to live there for around 10 years before purchasing a house as PPOR and hoping that this investment would gain significant capital to either sell or leverage for the PPOR if there were strong rental demands when I moved out.
Thanks for any pointers and your general thoughts on this type of investment!