Melbourne2013
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I'm currently looking to buy a property in kilmainham area. There is 2 bed property (59 sq metre) for 225k . It looks as though My offer may be accepted. Although there are nice views and I like the apt, I'm concerned at size...both bedrooms are quite small with limited space ( one double and one single). The max price I can pay for a property now is 225k- I'm 32 and single and want get on the property ladder. My mortgage would be approx 900 per month so was thinking if I rent out room for say 400-450, would make sense to buy to protect against rising rental prices. I have check property price register and these apt were around 125k in 2010. I wonder should I hold off until I can afford a bigger place or two bedroom house that might hold its value. I guess my question is to buy or not- any advice appreciated. The property mgt fee is 1100 and it needs some work in terms of carpet, painting etc.