Hi,
Any ideas on :
A 2 bedroom semi in the inner west ( costs region of 500k ) versus a 2 bedroom unit in Coogee ( costs 400k )
For the short term we would be living there , in the long term it would be an I.P.
At the moment rental income is similar for both.Is this a no brainer?
Cheers,
Humph
Hi Humph
We have a 2 bedroom unit in Clovelly, right near Gordon’s Bay which we have been renting for the past two years. We have been getting about 3% return on rent. Bought the property at the peak of the market and paid $590K and was getting $400 p/wk. Has got ocean views though.
I guess there are a lot of units around Coogee and you need to work out what makes yours stand out from the rest. Inner West may not be as glamorous yet rent returns might be a bit higher. We know that our Clovelly property will give us capital gains in the future. We are currently renovating it and will move into it early March.
CheersSimon
Humph,
It might be worthwhile to purchase Residex’s predictions Future Growth, which outlines their predictions of capital growth for the top 100 postcodes in the state of your choice.
It is released/updated every quarter and costs $185 (?). May assist in answering your question…
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