Great forum. I would like experienced peoples' opinions on the following scenario. I am looking to buy my first property; either a duplex, villa, unit/apartment or townhouse. I am wondering if there are major problems with buying a 1 bedroom property. I have no children and do not plan to start a family in the short term and therefore a 1 bedroom property is big enough for my current needs. However I worried about it being a bad investment for capital growth or for being able to rent it out down the track. However by buying a 1 bedroom I can avoid mortgage insurance and obviously my repayments will be significantly less.
Buy a 1 bedroom, 1 bathroom property
Therefore no mortgage insurance needed
1 bedroom is currently sufficient for my living requirements.
Buy a 2 bedroom, 1 bathroom, seperate toilet property
Have less than 20% deposit
Therefore have to pay mortgage insurance.
Thank you for your replies...