I was just wondering what the best investment for a first time buyer is, would it be a house or a unitflat, I can see the obvious but still unsure what will make the better investment return and make me money,
lister
There is no simple answer to this.
Some houses are better than some apartments and vice versa.
Work out your goals and devise a strategy then get to work is my advice!
Simon Macks
Finance Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Originally posted by Mortgage Hunter:There is no simple answer to this.
Work out your goals and devise a strategy then get to work is my advice!
Also be mindful of your budgetary limitations – I would also buy as well as I could as close to the city where long term history is on your side.
Derek
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0409 882 958
Property investment advice and researched property in quality locations available.The one down fall with units is that you generally don’t get any substantial land component – which is commonly the real value in a property.
If it is purely a cash on cash (+CF) deal you are looking for then a unit could be a wise move due to lower costs and often less maintenance. Be mindful of bodycorp fees though.
Simple keep in mind capital growth is always “crippled’ by no land.Pete
…Beware of the dreamtakers…
BTW – I was part of the MAP Program and am more than happy to answer and questions/comments you may have – Happy Investing…
HOUSE, HOUSE & MORE HOUSE…
You get land, and no Body Corporate!!!
Are we all sure that the options are purely restricted to only a house or a unit ??
I think Lister should broaden his scope somewhat and not restrict himself to just these two options.
My suggestion would be – none of the above.
I do however agree that the largest land component possible should produce – in the longer term – better growth prospects.
Cheers,
Dazzling
“Go hard or go home”
Hi Lister,
when you’re buying your first IP it has to be something that you are comfortable with, since it’s a scarey prospect first time around. Land will always go up in value, but for my first IP I found a flat that had a huge courtyard, in a great location and it has nearly doubled in value in 5 years. So just do your due diligence, keep searching and the property that feels right for you will turn up.
Landt.
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