I’m thinking of selling my townhouse in a lower growth area of Melbourne, and purchasing property to invest while renting closer to the city.
My house is owned outright and worth around 720. I have around 300k in cash and managed funds. I earn around 70k and am a single mother.
I’m 48 and would like to sell the investments in about ten years. Would I be better purchasing a million dollar family home in a growth area of melbourne with 3 p/c return, or two properties further north with a five pc return each?
I don’t want to do all my living in the future, but would like some growth that keeps pace with melbourne so I can purchase again later. I’m guessing I could rent a better property here with a higher yield from investments, but I want some balance as well.
I’d be so grateful for any advice.
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