Hi, i’ve got a chance to buy a waterfront 2 bedroom unit before its listed with a re agent. The area has had great gains over the last 2 years however the rent is not huge. Looking at 280,000 for the unit with 200 pw rent. Not one single waterfront property (house or unit) has come up in this street that fronts beach and lake near Port Macquarie in the last 3 years. I know units in Syd and Melb city areas are going downwards – do you think prices will continue to grow with a waterfront location out of city areas?HG
Walk away, HG Wells. Walk away.
If you are buying for capital gain, look for a house with land. I frown on this investment very much because its no where near positive geared and you’ve got body corp…
It’s all good to buy for capital gain in this market, but it should be a reno or at least a nice bit of land
Keep looking
I have just bought an ocean front townhouse with great views that needs some renovation work (turn from 2 bed to 3 bed). It is not positively geared, but I like the idea that one day we can live there and rent it out over the holiday period for extra income…we simply use this time for our holidays.
If you can afford a property like this, and the corp. body fees etc are not too high, why not. I believe it will have great capital gain in the future as there are only so many ocean view/ocean front properties.
My 10 cents worth anyway.
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