graeme m.
Brookfield, VIC
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I'm looking to move from my home in Brookfield, Vic to a 1 bedroom apartment in south Melbourne. I own the house in Brookfield outright but I believe I would on get up to about $300K for it. looking for the best way to get into apartment. i.e. Sell current property or rent it out. Rent in South Melbourne or buy etc. I've been told by lenders etc that I'm in a good position but m just looking for the best way to make the move happen. So rent out and pay tax or buy and cop a mortgage? Thanks
Responses
Personally if you are able I would hold
However this becomes a question for a qualified Financial Planner
Naturally the $300k would be a great deposit but you can still tap into the equity and hold
You can over time if you realise you will never return to Brookfield then sell and reduce the debt in St Melbourne
Again the question of rent v buy becomes a personal and a financial decision
Neither of which a Mortgage Broker can assist
However worth listening to your " gut " as you have done well so far