I am trying to decide what is best to buy a townhouse or House this is my first property and very inexperienced!
ok So I have 70k deposit, I am looking at properties in the Newcastle Area of New Lambton and Wallsend both properties are around the 300k price, The one in New Lambton is a 2 bedroom Freestanding Villa with a medium yard about 10 years old, a carport with a train line directly behind it but has a HUGE high fence around it so seeing the train is not possible, the other is an old house in Wallsend on a 500sq block a 2 bedroom house that needs to be fully renovated it is good structural condition but is in original condition, it has a double colourbond garage and storage. Obviously land is of higher value then a Villa but in very different areas. I am married with 2 boys and lifestyle is quite important (hence the reason to look in where the schools and social life is better) Long term I would like to keep this property to give to our boys and then in 5-7 years buy a nice family home. So this property we would like to keep to rent out in 5-7 years and then in 20 or so years give it to the boys! What is the better investment for this plan?????
ok So I have 70k deposit, I am looking at properties in the Newcastle Area of New Lambton and Wallsend both properties are around the 300k price, The one in New Lambton is a 2 bedroom Freestanding Villa with a medium yard about 10 years old, a carport with a train line directly behind it but has a HUGE high fence around it so seeing the train is not possible, the other is an old house in Wallsend on a 500sq block a 2 bedroom house that needs to be fully renovated it is good structural condition but is in original condition, it has a double colourbond garage and storage. Obviously land is of higher value then a Villa but in very different areas. I am married with 2 boys and lifestyle is quite important (hence the reason to look in where the schools and social life is better) Long term I would like to keep this property to give to our boys and then in 5-7 years buy a nice family home. So this property we would like to keep to rent out in 5-7 years and then in 20 or so years give it to the boys! What is the better investment for this plan?????