Hi all,
Would love to hear your opinions re: pros and cons to owning a one bedroom apartment in the capital city of Australia.
Competitive market here, unjustifiably. My work is in demand here and it is my second year renting in this city. The mortgage repayments on a $300,000 loan would be cheaper than the weekly rent. But then ofcourse there's body corporate fees. Luckily the insurance is included in the body corp. It's a one bedroom one parking. My plan is if I were to live in it for three or so years, whilst saving for a bigger place, and then rent it out... It might end up paying itself off. But I don't think I'd profit much on selling it. Thoughts?
Background: Single working professional in mid - late 20's. Family are interstate. Owner of the current rental has given notice to sell the property. I just recently moved into it. Honestly cbf moving again.
Submitted April 27, 2021 at 04:37AM by katetc https://ift.tt/2R2yCWa
