hi all,
As a newbie I really have hard times making up my decision to buy a house or apartment for my first IP...
My situation is:
cheap apartment: I can afford possibly 10-20% deposit in the very near future;
average house: I can only afford 5-10% deposit the most in the near future, and 20% will take me several years to save this amount of money.
either house or apartment, Im not living there and it will go for rent.
I will probably keep $3000-5000 for buffer to pay off any urgent fees.
I will try to keep my mortgage payment as fast as possible.
I have a feeling that apartment does not have capital gain as much as house, but seeing myself cannot afford to buy average house in the near future (say 2-3 years for 20% deposit) unless Im paying much expensive mortgage...just like you work for the bank for your rest of your life.
So I really need some advise even before I approach any property management agent
Please advise.
As a newbie I really have hard times making up my decision to buy a house or apartment for my first IP...
My situation is:
cheap apartment: I can afford possibly 10-20% deposit in the very near future;
average house: I can only afford 5-10% deposit the most in the near future, and 20% will take me several years to save this amount of money.
either house or apartment, Im not living there and it will go for rent.
I will probably keep $3000-5000 for buffer to pay off any urgent fees.
I will try to keep my mortgage payment as fast as possible.
I have a feeling that apartment does not have capital gain as much as house, but seeing myself cannot afford to buy average house in the near future (say 2-3 years for 20% deposit) unless Im paying much expensive mortgage...just like you work for the bank for your rest of your life.
So I really need some advise even before I approach any property management agent
Please advise.
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