Im a newbie looking to purchase my first investment property (live in for 6months then rent out) and like most have close to no idea about a lot of things associated with this...
There is an apartment on parramatta road that im interested in but being situated on a very busy road and being at the front of the complex with balcony facing the street im a bit concerned about the pollution and noise. Would you guys steer clear away from this one purely for these facts? The price seems to be pretty decent though around $300,000ish for a 50sqm one bedroom with parking. And for these reasons it makes me a bit suspicious about why theres not much demand..
On a separate note, i actually have money deposited in a first home savers account (approx $7k) which i cant withdraw until July next year. Im not sure whether i should just jump straight into the market now and not worry about the account (money will then go to super) or hold out so i can access those extra funds. It seems a bit of a waste and i regret putting it in there in the first place ... what would you guys do in this situation ?
One last thing, is having an investment property and then renting a place yourself elsewhere better than just living in your first home due to tax deductions? thats what im thinking of doing as right now im living with parents but want to move out.
Thanks all, sorry if questions are a bit noob, and let me know if you need more info!
There is an apartment on parramatta road that im interested in but being situated on a very busy road and being at the front of the complex with balcony facing the street im a bit concerned about the pollution and noise. Would you guys steer clear away from this one purely for these facts? The price seems to be pretty decent though around $300,000ish for a 50sqm one bedroom with parking. And for these reasons it makes me a bit suspicious about why theres not much demand..
On a separate note, i actually have money deposited in a first home savers account (approx $7k) which i cant withdraw until July next year. Im not sure whether i should just jump straight into the market now and not worry about the account (money will then go to super) or hold out so i can access those extra funds. It seems a bit of a waste and i regret putting it in there in the first place ... what would you guys do in this situation ?
One last thing, is having an investment property and then renting a place yourself elsewhere better than just living in your first home due to tax deductions? thats what im thinking of doing as right now im living with parents but want to move out.
Thanks all, sorry if questions are a bit noob, and let me know if you need more info!