I dunno. Get back to me in 10 years and I'll tell you if our house 9km north of the city has been worth the $4000/month mortgage. :(
Just keep in mind that it's land that grows in value, not the buildings. It's great to have a nice house on the land, but if it's pocket size it will rise in value more slowly. You can always decide to sit it out. There are lots of people who bought in what was once an ordinary suburb thirty years ago, and is now highly desirable because of the proximity to transport or other facilities (such as the beach). I think it's important to buy near transport (preferably train lines which aren't hampered by traffic like trams and buses), so look at that first. Good luck! xx
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Date: 2015-05-25 09:30 am (UTC)Just keep in mind that it's land that grows in value, not the buildings. It's great to have a nice house on the land, but if it's pocket size it will rise in value more slowly. You can always decide to sit it out. There are lots of people who bought in what was once an ordinary suburb thirty years ago, and is now highly desirable because of the proximity to transport or other facilities (such as the beach). I think it's important to buy near transport (preferably train lines which aren't hampered by traffic like trams and buses), so look at that first. Good luck! xx