Hi Every one,
To buy the house or to buy the apartment as a 1st IP.
Am looking at an apartment at the moment in Auckland city(morningside - kingsland) Real estate reckon it will go in the high 200's.
Floor area - 81 m2
rates - $698 per annum
Body corp $1009.34
myself and my partner have saved a $100k and have no problem with the deposit. My partner is keen on getting this aparment property with a view to either living in it for a year (building up the capital) and then using the capitol to buy a house in the same area. Or renting it out for a year before doing the same thing (using the capitol to buy a house in the area)
Is this smart investing?? I have a view that perhaps going after the 500k property is the better bet (most houses around this area go for that amount)
Another question would be "is this a good time to buy?"
any and all responses are much appreciated
cheers
morningside for life
To buy the house or to buy the apartment as a 1st IP.
Am looking at an apartment at the moment in Auckland city(morningside - kingsland) Real estate reckon it will go in the high 200's.
Floor area - 81 m2
rates - $698 per annum
Body corp $1009.34
myself and my partner have saved a $100k and have no problem with the deposit. My partner is keen on getting this aparment property with a view to either living in it for a year (building up the capital) and then using the capitol to buy a house in the same area. Or renting it out for a year before doing the same thing (using the capitol to buy a house in the area)
Is this smart investing?? I have a view that perhaps going after the 500k property is the better bet (most houses around this area go for that amount)
Another question would be "is this a good time to buy?"
any and all responses are much appreciated
cheers
morningside for life
Comment