Hello fellow members,
I need some advice. It's been a great forum and I am almost addicted to it. Before I raise the question, I just wanted to make it clear that I would like to know what could go wrong with what I am thinking and what are the main negatives. The questions is-
Is it a good idea to buy new house or build one in new estates further away from the city for investment purposes? This will be a long term hold, set and forget type of thing.
This interests me for following reasons.
1. Depreciation
2. No or very low maintenance for first few years. I have no time and I am not into renovations.
3. New attract tenants
4. My observation is that eventhough many would argue that new estates are everywhere and not good to buy in, people like community feel and prefer living in estates, as long as there is shopping complex, school and transport there.
5. Possibility of eventually myself moving into that property.
6. Fits my budget and gives me new home with land component
Is there any member here that buys new in outer suburbs for investment purposes?
Please note that
I am aware of closer to CBD advice but not keen on it.
I am not keen on buying a big block with rundown house and subdivide it.
Please share your thoughts.
Thanks in advance.
I need some advice. It's been a great forum and I am almost addicted to it. Before I raise the question, I just wanted to make it clear that I would like to know what could go wrong with what I am thinking and what are the main negatives. The questions is-
Is it a good idea to buy new house or build one in new estates further away from the city for investment purposes? This will be a long term hold, set and forget type of thing.
This interests me for following reasons.
1. Depreciation
2. No or very low maintenance for first few years. I have no time and I am not into renovations.
3. New attract tenants
4. My observation is that eventhough many would argue that new estates are everywhere and not good to buy in, people like community feel and prefer living in estates, as long as there is shopping complex, school and transport there.
5. Possibility of eventually myself moving into that property.
6. Fits my budget and gives me new home with land component
Is there any member here that buys new in outer suburbs for investment purposes?
Please note that
I am aware of closer to CBD advice but not keen on it.
I am not keen on buying a big block with rundown house and subdivide it.
Please share your thoughts.
Thanks in advance.