Hi all
I am new to the property market, i have found a decent apartment in sydney north for a decent price but the apartment is already 40 years old. The only thing i am worried about is whether the unit will fetch me any profit after lets say 10 years, would anyone want to buy an apartment which is 50 years old. What is the average age of an apartment .
Please help me out
i would say generally no. You want to buy something with a large component of land. Land appreciates while the structures on them slowly depreciate. So I avoid apartments altogether.
But sometimes you may get a good yield out of an apartment and they can still go up in price over the short term.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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