hi all..
Just browsing through some properties and had a look at some units..
my preference is for houses, believing that the House depreciates and land appreciates, and if can get an Ip with potential to sub-divide some years later..alll the better..
however i have a friend who owns 2 units in one complex, 4 in another and one in another, plus his partner owns 2 and they rent his mums investment unit so she has good tenants…he prefers the lower cost of getting into units and the spread of risk by having more…
What do you think of units/
Or is everyone more pro-house here/
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI used to have a preference for house/land, but lately I have developed a love for units as well.
There are many pro’s and con’s for both I think.
There is an article in the August API magazine, “Keeping up with the latest trends” in where they talk about the moving trend- more and more people prefer to live in high-rise units, especially near the CBD of capital cities.
Celivia
True Celivia..
Joondalup, East Perth, Subiaco, Ascot Waters ( W.A) some of the more Upmarket area’s are reminding me of houses in the UK…
Not much yard, however there are parks nearby..
Guess it all comes down to the deals themselves.. your yield and potential for getting tenants( i wouldn’t buy in a complex of 120 )and potential for capital growth..
does anyone have a mixture of units and houses/ cheap or expensive…
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculatorredwing,
This Q was asked a week ago, so I’ll put the link here:
https://www.propertyinvesting.com/forum/topic/12416.html
kay henry
Originally posted by redwing:i have a friend who owns 2 units in one complex, 4 in another and one in another
Now just imagine the value if your friend owned them all in the same block???!!! [juggle] Ahhhhh well…..Anyway back to reality…..[rolleyesanim]
Redwing,
There is no “one is better than the other” IMO, as both have merits, and ultimately it is a matter of personal choice.
You are right though, land tends to appreciate and buildings depreciate, so in that sense, houses tend to win out (for most people).
Personally, I don’t mind units, but unless I can own the whole block I don’t bother….why??? I don’t like body corporates telling me what I can and cannot do; if anyone is going to be “in charge” it will be ME and ONLY ME !!!
But alas, that is what I prefer; someone else may have no problem with, and indeed may well prefer and be quite happy to pay for the convenience of having a [gossip]collective group make all the executive decisions re maintenace etc.
Bottom line….it depends on what suits your taste, as well as your budget!!!
Cheers,
Jo
I think units are good provided they are reasonable quality, and that you buy the whole lot of them on the block. I think people are more and more turning to units to rent because of the high cost of living. And also there is a lot of single mums and ideed smaller families with one child or two children and they can live in a unit.
For example my father has done well with a block of units, there ex government elderly brick units and five of, there nice inside biult in robes plastered walls. And he has a demand renting them in a 400 population country town, renting them all year round.
I think both two three bedroom common houses or complete blocks of units are alright. Go for it.
But buy the whole block of units though, Hey! Wether it be one two three or fifty three [biggrin].
Really depends on your level of affordability. The best advise I could offer would be not to over extend yourself. Getting rich takes time, no matter who you are. Look at the current time in the market:
2 more years of flat
1 yr of slowish growth
1 yr of price growth (could be very high)
1 yr regulationIt depends on where you want to buy.
Most people can only afford to buy one unit or appartment at a time if they want to buy near the CBD in a capital city.
Celivia
here’s an example of land which isn’t immensely valuable. Who knows? Maybe it was only $100 per block before the boom… but would this be a good investment because of land appreciation? I doubt it. Some land- scarce land or land with great features- will appreciate, but not all land will.
http://domain.com.au/real_estate/buy/wa/katanning/2004105135.aspx?property=Katanning
kay henry
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