Is an old unit worthwhile?

Went for a drive around Meadowbank today (which took me a whole 5 mins haha).
I want to buy a unit there..but my budget is $400K..so even though I love the new apartments...I can't afford it.
Do you think it is a good idea to buy a 2br unit in the old part of Meadowbank to get my foot in the door. Do you think this part of Meadowbank will have good CG as a result of the new development
 
Do you mean a villa unit?

If so, I think they're great, in fact, my last 3 purchases were old, unrenovated villa units.
 
rafters

Buying old is not a bad idea as long as there are not many maintenance issues and as long as the yields are reasonable.
If the building looks solid, if it's a nice block and you can afford it then go for it.

With a new unit the rent will be higher but because of the high price the yield perhaps won't be as good. However, with a new place you can claim depreciation so this balances things out a bit.

I actually bought an old unit today because the yields were good (7%).
If I was looking for tax benefits I would have bought a newer place (if I could afford it)
 
Rafters, my best investment has been the purchase of 2 art deco apartments built in 1938 in Sydney. tenants love the high ceilings, period features and they have had the best price appreciation in my portfolio. Old apartments can work...
 
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