should i buy apartment

Discussion in 'What to buy' started by Tarun007, 10th Dec, 2021.

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  1. Tarun007

    Tarun007 New Member

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    10th Dec, 2021
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    Location:
    NSW
    Hi all,
    now that Real Estate in sydney is on peak i cant afford to buy house (400-500 K) . i am thinking of buying an old apartment and live there for 2-3 years and save some money so i can buy a house. from all real estate guru i wanted to ask if its a good and feasible idea; what could be the challenges and what are the variables needs to be considered if i go ahead with apartment.

    Also please suggest, Any suburb which i should focus in to reduce the risk. thanks
     
    Tarun007, 10th Dec, 2021
    #1
  2. Stoffo

    Stoffo Well-Known Member

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    Location:
    In the Tweed
    Rentvest.
    Dont buy in Sydney
     
    Stoffo, 10th Dec, 2021
    #2
    Tarun007 likes this.
  3. Shawn6334

    Shawn6334 Active Member

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    Do not buy anywhere where there is 100s of empty units and still new apartments being built. Eg. Mays Hill near Parramatta.
     
    Shawn6334, 10th Dec, 2021
    #3
    Tarun007 and bmc like this.
  4. Scott No Mates

    Scott No Mates Well-Known Member

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    Don't settle for just one, buy several cheap units. :D
     
    Scott No Mates, 10th Dec, 2021
    #4
  5. Tarun007

    Tarun007 New Member

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    Ha ha ha thats the whole point, i dont have money.
    i am just confused if i should settle for apartment or keep renting
     
    Tarun007, 10th Dec, 2021
    #5
  6. Shogun

    Shogun Well-Known Member

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    Perth
    Apartment. Old 2 storey complex of 8 walking distances to Bondi Beach?
    I like the idea
     
    Shogun, 10th Dec, 2021
    #6
  7. Trainee

    Trainee Well-Known Member

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    you can do both.

    Do you expect your borrowing capacity to increase in the future?
     
    Trainee, 10th Dec, 2021
    #7
  8. Tarun007

    Tarun007 New Member

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    yes expecting it increase in 2 years
     
    Tarun007, 10th Dec, 2021
    #8
  9. Tarun007

    Tarun007 New Member

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    Location:
    NSW
    Any insight why should we avoid it ?
     
    Tarun007, 10th Dec, 2021
    #9
  10. Stoffo

    Stoffo Well-Known Member

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    Location:
    In the Tweed
    Your budget isn't quite there for sydney
    Buy an actual house elsewhere
     
    Stoffo, 10th Dec, 2021
    #10
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