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Looking at buying a leasehold property for 80000 on leasehold land. In my opinion the house itself is only worth 30 000 being generous. The lease expires in 2018. I have the option of buying the land freehold from the Department of Natural Resources.
I would prefer to pay the lease for say 2years while i renovate the property to create equity and save interest on finance. I would appreciate any views on this deal.
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