VIC New IP or PPoR in better area

Discussion in 'Where to Buy' started by Alexa10580, 12th Feb, 2020.

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  1. Alexa10580

    Alexa10580 New Member

    Joined:
    12th Feb, 2020
    Posts:
    1
    Location:
    Melbourne
    Hi Guys,

    I am after a bit of an advice.
    Currently live in Roxburgh park area. The house is worth around $900k with $300k remaining of the mortgage.
    I have two options:

    1. Sell this and buy in a better area. E.g. Essendon/ Startmore /Pascovale South.
    Advantage: Closer to work. Better school.
    Disadvantage: Older house. bigger mortgage.

    2. Keep this and buy an IP.

    What would you guys think is the better option ?

    Thanks in advance.
     
  2. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    8,955
    Location:
    Melbourne
    There's just too many unknowns to make a comment..... your tax situation, income situation, savings, disposable income, etc.....

    The Y-man
     
  3. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member

    Joined:
    15th Aug, 2005
    Posts:
    7,544
    Location:
    Gold Coast
    Id start with some tax and Credit Advice and go from there

    ta
    rolf