What would you prefer house or the unit?

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Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
May 15, 2011 - 1:53 pm
You shouldn’t need building (but wouldn’t hurt to check). Landlords insurance is always a must. ING and Real are also pretty good and allow for self managing (if you opt for this).
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
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Andrew_A
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@andrew_a
Join Date: 2003
Post Count: 392
May 17, 2011 - 12:29 pm
I'm personally quite partial to brick houses on nice blocks of land <200m from a train station that need a cosmetic reno and will not cost too much too hold. Units are nice as well, one I bought for 89k in 2001 I sold for 257k in 2007, can't say that wasn't an uplifting experience for me
Back in the late 70's my parents had the choice of buying a shiny new riverfront unit or the old clunker of a house next door for the same amount, the unit is now worth 800k or so and the clunker was sold for 1.5M and knocked down some years ago. Land appreciates and house's dont.. or something like that. Now the unit would have had a better yield but not by that much as the strata on that block is a shocker (all retirees and wealthy and see the high strata as a nice way to keep investors away)
Why not buy a house and a unit!
Tech4u
Member
@tech4u
Join Date: 2011
Post Count: 45
May 17, 2011 - 12:42 pm
Andrew_A wrote:
(all retirees and wealthy and see the high strata as a nice way to keep investors away)
so at last I am not alone that is facing the problem with the strata for sure. That said; these strata companies are good for nothing. All they are doing is taking money for granted and do nothing back.
There was a electricity fault few days back and two of the floors contents got bursted due to excessive electric load; the reply from building was that building management is not responsible.
I know I am taking this topic into a different direction but I am telling that why should I even bother about buying a UNIT.
Why govt. has no control or whatsoever on strata; they are good for nothing; they are easily charging too much , and going out of context of building management for living being; rather it is a place of minting money like banks.