What about buying a reirement unit?

I'm almost unconditional on a unit in an 'over 55's' complex (IP only). It's a complex of about 60 units and there is a confirmed waiting list for occupancy. There are about 8 for sale and we got the lowest price we could (under cut some of the other units by $30K). The rent is high, the expenses are average and we will own it freehold and take home just over $100 p/w - we paid $85K for the unit.

While I have reservations about buying into a complex where there will always be a number for sale with limited buyers, I am thinking that we keep it for a good few years and, even if there isn't much movement on the CG front, we should still be able to come out ahead in the sale price + the weekly PGing.

I don't know anyone else who has a unit in a complex like this and would appreciate anyone elses' experiences or thoughts on it.

Thanks very much.
 
the reason u got it cheap is the reason they will always be cheap.

personally i wouldn't touch it with a barge pole and would pull out if u still could
 
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