Hi,
Issue - I'm not sure whether to go for an IP purchase with a reno in mind in terms of whether it should be:
a) Unit/Appartment - where I can stay within a 10km-15km ring of the City (which is what I prefer re location), or
b) House - but would have to be further out from City (e.g. 15km+)
Question 1 - Relative to the value of the property, is a Reno on a Unit generally much less viable in terms of ability to manufacture some additional $?
Question 2 - While I've noted all the above, and comments on which of the options a) or b) you'd go for?
Notes: Maybe not needed for questions but I have $500-$600k to play with and talking about Brisbane (would need to deduct a little from this for reno costs, but have already taken out transfer costs).
thanks
Issue - I'm not sure whether to go for an IP purchase with a reno in mind in terms of whether it should be:
a) Unit/Appartment - where I can stay within a 10km-15km ring of the City (which is what I prefer re location), or
b) House - but would have to be further out from City (e.g. 15km+)
Question 1 - Relative to the value of the property, is a Reno on a Unit generally much less viable in terms of ability to manufacture some additional $?
Question 2 - While I've noted all the above, and comments on which of the options a) or b) you'd go for?
Notes: Maybe not needed for questions but I have $500-$600k to play with and talking about Brisbane (would need to deduct a little from this for reno costs, but have already taken out transfer costs).
thanks