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    Default Better Area or Invest??

    Hi ladies

    Just a question for you all which has had me thinking...

    If you owned your house outright (a really beautiful house in not the best area in Melbourne), and had an option of selling it and buying a house in a much nicer area in Melbourne, versus keeping it and getting an investment (say, a 2 bedroom unit in the suburbs of Sydney, where you have family and could use as a 'holiday house' for extended stays once it was paid off or in retirement) - which option would you go for?

    Or if you wanted to do both, which option which you act on first (buying in a better area, or getting the investment)??

    Am really interested to hear your views, as this 'problem' is really doing my head in!!!

    Thanks!

  2. #2
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    I'd get the investment property. Not that i am ever going t oown the first house.

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    I'd get the investment property...
    But only if it was a free-standing unit....and I'd stay right out of Sydney and head for something in Qld or somewhere with similar future growth prospects.

    I better not let DH see this, he's already wanting to refinance

    BTW give interest-only loans a bit of a look just for another spin on the whole idea...
    My IL's are quite successful in property investment and reckon if they had their time again they would have continued renting while building their portfolio....then you're not tied down to an area, don't have to worry about full on maintenance of your own home etc.

    Good luck with your decision


 

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