Buying a property is a big decision, and there are many factors to consider including whether you are going to live in the property or rent it out as an investment.
The First Home Owner Deposit Scheme has also been extended, meaning eligible first home buyers can purchase a home with a deposit with as little as 5 per cent.
First home buyers are clearly in an excellent position to enter the property market and buy an owner occupied home, but those wishing to downsize from a larger family house, or buy a second home in the city, are also well positioned to benefit from historically low interest rates.
On the other hand, now may be the perfect time to buy an asset that creates income (rent) and enables tax deductions in the short term and grows in capital value in the medium to long term.
Apartments often achieve a higher rental yield than houses, with the added advantage of a lower average purchase price. METRO425 Apartments, for example, start from just $419,000 in a suburb where the median house price is $600,000*.
With two bedrooms and two bathrooms in each METRO425 Apartment, they offer broad appeal to a wide range of potential tenants including singles, couples, young families, and students of all ages.
METRO425 Apartments are also in a sought-after location near transport, schools, shopping, and lifestyle amenities. This means your METRO425 is an exceptional investment, whether you choose to live in it yourself or rent it out as an income stream.
If you would like to know more about METRO425 Apartments as an owner occupier or potential investor, please contact Constantine Pappas on 0423 047 020 or ua.moc.hr.yelnu@sappaP.noC.
*Camden Park median house price at 29th September 2020, based on data supplied by Hometrack Australia.