First Home/Live in/ Serviced Apartment HELP!

[foxygirl]

I am deciding how to invest my income and am contemplating buying my first home. The Waldorf apartments have some units for sale where I live (2 bedroom 1 bath) which can be rented or owner occupied. I am thinking of owner occupied and taking advantage of the first home owners grant and stamp duty concessions.

My questions are, what do people think about buying into a serviced apartment complex? what percentage deposit do you reccomend I save before purchasing? Any other pros and cons or tips would be much appreciated!

thanks!

 

[The Y-man]

Hi Foxygirl,

do a serch on "serviced apartments" - there's been quie a few posts.

Cheers,

The Y-man

 

[The Y-man]

My questions are, what do people think about buying into a serviced apartment complex? what percentage deposit do you reccomend I save before purchasing? Any other pros and cons or tips would be much appreciated!

thanks!

Depending on the size of the apartment, you may only get 60% loans - so you may need 40% + costs up front. This is one of the hurdles with serviced apartments.

Cheers,

The Y-man