How crazy am I for seriously considering an OTP for a PPOR in Sydney?

Discussion in 'What to buy' started by Oukert, 27th Oct, 2020.

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  1. Oukert

    Oukert Member

    Joined:
    26th Oct, 2020
    Posts:
    11
    Location:
    Sydney
    Yeah it’s weird I seem not to care about space much, I’ve spent the last 8 or so years in various places and I’ve never gone bigger than a studio and have generally loved my apartment every time. Only reason I’m not interested in a studio to buy is because I know they’re ridiculously hard to resell.

    Weirdly I don’t seem to have that Aussie dream of the yard and all that, the only real reason I’m looking at getting a property at all is because interest rates are so cheap and I have the deposit and it seems silly not to, so it’s purely financial. Just gotta figure out what the best next option is.

    It at least sounds from the consensus, that if I’m super happy living in apartments, I should not buy my PPOR, and look to buy a pure investment.
     
  2. Illusivedreams

    Illusivedreams Well-Known Member

    Joined:
    3rd Oct, 2017
    Posts:
    2,454
    Location:
    Sydney
    Our best investment was an apartment near sydney CBD.
    It was 7 years old when we bought it and we purchased it same price as the original owner who bough it oif the plan.

    SO suggestion is dont buy off plan.

    Although no issues with buying an apartment if it as well managed good quality building built by a great builder.


    Rent has been consistent over the many years have had great families .

    Mine was 2 Bedroom with study nook 2 bathroom 1 car spot 2 balconies. 2 levels. 115sqm internal.+ Car parking 1 spot

    It was $30,000-$40000 more many years ago than comparable but now is holding value well and gets quality tenants.
     

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