Hi All,
Stumbled across this site today an have been reading it throughout the day. A wealth of information I must say.
I would love some advice or at least a 'what you would do' if you put yourself in my situation.
I'm currently living at home with the intention of purchasing my first IP. I've been extremely indecisive about where/when to buy over the past few years and it's getting to the point where I feel I just have to make the plunge and buy something/anything. But I'm really struggling. Even though I view it as an IP I still get a bit picky about choosing somewhere I'd potentially like to live, nice place etc etc. I know I should just ignore all this and buy something with good growth potential but again I don't really know enough about it and it's slowly driving me crazy. Then I don't know if I should focus on a house/potentially big block or just get a unit with the intention of buying another one every few years.
I will be purchasing this IP alone, with the intention of renting another place of residence with my partner within 6-12 months. I guess with the intention of buying our place of residence within 3-5 years.
I currently have ~$150k saved + bank loan, and earn what would be best described as a median wage. What/where should I be looking?
I've looked around the north west (Fawkner) for a house, but then every now and then I start thinking perhaps a unit/apartment around collingwood etc might be the way to go. Or I could just buy a house fairly cheap in the outer SE suburbs but then I don't think the growth will be there as much. And it's not an area i'd be happy to live in...
ARGHHH... As you can see when I start thinking about one area I switch to another completely different. Surely someone has been in a similar situation.
Any advice on where to start/focus on would be great. Doesn't even have to be suggestions on where to buy but the best way to start this adventure. I need to change my focus to finally get my foot in the market I believe.
Cheers,
(I hope this thread isn't too ranty/broad/pointless.... If so please feel free to get rid of it. Wasn't sure if it was suitable in the 'where to buy' forum)
Stumbled across this site today an have been reading it throughout the day. A wealth of information I must say.
I would love some advice or at least a 'what you would do' if you put yourself in my situation.
I'm currently living at home with the intention of purchasing my first IP. I've been extremely indecisive about where/when to buy over the past few years and it's getting to the point where I feel I just have to make the plunge and buy something/anything. But I'm really struggling. Even though I view it as an IP I still get a bit picky about choosing somewhere I'd potentially like to live, nice place etc etc. I know I should just ignore all this and buy something with good growth potential but again I don't really know enough about it and it's slowly driving me crazy. Then I don't know if I should focus on a house/potentially big block or just get a unit with the intention of buying another one every few years.
I will be purchasing this IP alone, with the intention of renting another place of residence with my partner within 6-12 months. I guess with the intention of buying our place of residence within 3-5 years.
I currently have ~$150k saved + bank loan, and earn what would be best described as a median wage. What/where should I be looking?
I've looked around the north west (Fawkner) for a house, but then every now and then I start thinking perhaps a unit/apartment around collingwood etc might be the way to go. Or I could just buy a house fairly cheap in the outer SE suburbs but then I don't think the growth will be there as much. And it's not an area i'd be happy to live in...
ARGHHH... As you can see when I start thinking about one area I switch to another completely different. Surely someone has been in a similar situation.
Any advice on where to start/focus on would be great. Doesn't even have to be suggestions on where to buy but the best way to start this adventure. I need to change my focus to finally get my foot in the market I believe.
Cheers,
(I hope this thread isn't too ranty/broad/pointless.... If so please feel free to get rid of it. Wasn't sure if it was suitable in the 'where to buy' forum)