VIC small apartment in good suburb close to city, or bigger house an hour from the city, or regional.

Its the age old question and i guess i wonder if anyone has done the numbers

looking at victoria
eg if i bought a one or 2 bedroom apartment in an established suburb close to the city eg hawthorn, richmond, malvern, south yarra, st kilda, elwood etc

or i bought a regional property a house say in ballarat or mildura

or a house in a suburb 1 hour or so from the city where prices might still be lowish eg werribee and i know there are other suburbs

if i then renovated and held it and then did the same a couple of years later and again a few years after that

or if i renovated and sold

would anyone have numbers of where i'd end up in all these scenarios and what would be the benefits of each one short term and long term?

any info towards this would be appreciated please.

 

Hi Justine, the key question here is what do you want for yourself, and what are you prepared to compromise on. The numbers game is different for each property but it all starts with you.

 

I guess first question is... are you looking to live in it or just investing?

 

What is your goal? What kind of cash-flow scenario do you need to make it work for you? Can you afford a lower yield with higher growth? Or do you need a strong yield, and are therefore more willing to forego higher growth.

 

Hi Justine, I think you could find a good deal in the different property types in any of those individual areas. You could more easily find plenty of lemons too.