Hi, I am a new member but would appreciate very much if forum members who are in Perth WA can give some useful tips, inputs, advices for me.
We are currently looking for a rental property in Midland but dont know which of the 3 property categories is the best in terms of rental income aspects and capital gain aspects. We dont know what types/kind of renters there are in Midland and the rental problems landlords are experiencing in this area. It would be good to have these information to prepare us for whatever potential issues we will face as landlord in this area.
We are currently weighing between buying a brand new villa 4 blocks away from the Midland CBD ( in town) listed for $370-380,000 or a second hand 3 bed 1 or 2 bath house more than 4 blocks away from CBD listed for $320-350,000 , or a second hand house in Stratton 4 bed by 2 bath or 3 bed by 2/1 bath listed for $320-360,000 , and which is 10 minutes away by bus from Midland CBD. We can only afford to pay around $320 – $370, 000 the most to buy one of these.
The property will be in my son's name as his home so that we can get the first home owner's grant and not pay stamp duty as additional help towards paying for the property. We currently live in a small unit as our home; and we plan to live on this rental property for first six months to qualify for the FHOG and stamp duty exemption.
I dont know the rental situation in Midland, Perth and pro and cons of each of the above scenarios with respect to the rental aspects and capital gains aspects. Need help from you who knows the Midland Perth area. I would appreciate whatever inputs anybody can have. Thanks.
Go for the newest one you can afford because when it becomes an IP you will get good depreciation at tax time and less maintenance issues. I think also 2 bathrooms in IP's is a must. If the villa's are strata'd that will need to be a consideration aswell although those fess will be a tax ded. eventaully aswell.
I worked in Midland for 10 years and still visit occassionally these days and am amazed at its transformation.
Had two friends in Stratton and although they are great people, nice homes as a whole I wouldn't invest there – check out where State Housing is around the area before you buy consider investing in there.Thanks Esselle for helpful info. Where can I find information on state housing areas in Midland /Stratton? Is this available from Landgate or the local shire councils?
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