Considering my financial situation, might not be able to buy a $500K + IP (house). The option I have is a unit and reading the posts in this forums tenancy rate in a CBD is much higher compared in a remote suburb. It is very hard to find a brand new unit or a town house in CBD which fits my budget.
Buying a brand new IP vs an OLD IP, how does it matter in returns like negative gearing, etc… paying those $70-90K more for new apartments is it worth it?
Why are you looking to buy in the CBD and not metro? Also which city/state are we talking about? The only way someone can answer the question is we get all the numbers – i.e. rental return, strata/maintenance costs, deposit that you are using, purchase amount, other costs such as LMI, etc.
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
You generally pay a premium for new stock – just as you would for most brand new products.
You can't really add value to a new property so it could take some time before your realise any CG.
Depreciation on newer properties is higher.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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