Water view apartments - Brisbane CBD or Hmilton?

[Aulyna]

Good evening all,

Only purchased a couple of houses before, know nothing about apartments.

FIRST time looking at apartments, any help would be appreciated

2 apartments, bother with water view, similar priced....about 500k,

No 1. Hmilton - off plan apartment, settle in 2 years. 60m2, 1bed+study+1parking
No 2, Brisbane CBD - existing one, Luclus St, 2bed+1parking, 90m2, Floor 2.

Which one to go? OR NOT go at all?

Looking forward to your replies

THANKS!

 

[The Y-man]

Why do you want to look at apartments?

The Y-man

 

[Aulyna]

When review my loan with a mortgage broker, he suggested me to buy the off plan one... as my LVR is 40%

sounds good to me... so started..

better buy a house or town house, right?

 

[marg4000]

The most important thing is to check if the water views can be built out at a later date.
Marg

 

[The Y-man]

When review my loan with a mortgage broker, he suggested me to buy the off plan one... as my LVR is 40%

sounds good to me... so started..

better buy a house or town house, right?

Depends on your financials, your income stability, your risk and failure tolerance..... and ultimately what your end goals are.

If your reasoning is "mortgage broker said..." I'd be a bit unconfortable..... (unless they were very cluey).

There are different risk profiles for apartments and houses such as:
.body corp/common facilitiy maintenance
.agreement with body corp on improvements
.initial outlay
.net rental yield
.cap growth patterns
.future demand
.LVR banks will allow
etc


The Y-man

 

[Aulyna]

Thanks Y-mate,

Always wondering why so many people invest in apartments... there must be some good reasons...what are the reasons?

Regards,

Aulyna

 

[The Y-man]

Thanks Y-mate,

Always wondering why so many people invest in apartments... there must be some good reasons...what are the reasons?

Regards,

Aulyna

I went into apartments primarily as they were the only things I could afford in the suburbs I wanted to buy in. I also wanted to be a #@$%@ quicker by being able to say, "I have x properties compared to your single one!" (because the first thing people ask is "how many" not "what sort" Think I'm over that phase of my life now.... maybe....)

Cheers,

The Y-man

 

[Luv2Travel]

Always wondering why so many people invest in apartments... there must be some good reasons...what are the reasons?

Limited funds and better location. My PPOR is a one bedroom apartment and has seen pretty good growth over the last 18 months, I'm not complaining. So not sure why people say they have limited CG potential due to "no land". It's all about supply and demand. I'd rather buy an inner city apartment than a big house on half an acre in the middle of nowhere.

As for living in one, I love it, sure I pay $2K a year body corporate fees, but in that I get swimming pools, gym, gardens all maintained, no building maintenance and no building insurance.