Hello,
I'm faced the following decision - whether to buy a house or unit based on the following in Brisbane:
Option 1:
Older basic house on 500m2 within 4kms of city, returns $420pw. Needs cosmetic reno - probably $20k. Price $450,000
Option 2:
Near new 2 brm, 2 bath unit within 4kms of city, returns $550pw. Price: $440,000.
Which would you choose? Yes, the land content is worth more; but very old & basic house needing work (which I'm happy to do), but the unit has excellent depreciation benefits & return is greater. Hmmm...what to do???
I'm faced the following decision - whether to buy a house or unit based on the following in Brisbane:
Option 1:
Older basic house on 500m2 within 4kms of city, returns $420pw. Needs cosmetic reno - probably $20k. Price $450,000
Option 2:
Near new 2 brm, 2 bath unit within 4kms of city, returns $550pw. Price: $440,000.
Which would you choose? Yes, the land content is worth more; but very old & basic house needing work (which I'm happy to do), but the unit has excellent depreciation benefits & return is greater. Hmmm...what to do???