Hi everyone,
I have a bit of a dilemma and its driving me nuts so your advice would greatly be appreciated.
I keep being told that I should buy a brand new place for maximum depreciation and to reduce my tax as I earn 6 figures. Howevever the sums dont quite add up. I've found some very nice investment units in Sydney close to major hospitals, schools, and a railway right on the price I am prepared to spend (between 300K - 400K). The places are generally finished construction around 1999 - 2001.
Both new and 2nd hand hand will roughly appreciate in value and return a similar rental income. Would you spend $50K - $70K more to get a brand new place and get more depreciation or purchase a place several years old and save the $50K - $70K???
Please advise ... help much appreciated
Kaz
I have a bit of a dilemma and its driving me nuts so your advice would greatly be appreciated.
I keep being told that I should buy a brand new place for maximum depreciation and to reduce my tax as I earn 6 figures. Howevever the sums dont quite add up. I've found some very nice investment units in Sydney close to major hospitals, schools, and a railway right on the price I am prepared to spend (between 300K - 400K). The places are generally finished construction around 1999 - 2001.
Both new and 2nd hand hand will roughly appreciate in value and return a similar rental income. Would you spend $50K - $70K more to get a brand new place and get more depreciation or purchase a place several years old and save the $50K - $70K???
Please advise ... help much appreciated
Kaz