My partner and I are looking to enter the real estate market, and due to financial situation it seems we really can only look at apartments for around $130k - $150k. What we have found, is that with a 20% deposit, we can find several apartments nearby that we could purchase and, at market rentals, return slightly more than it would cost us (taking into account all mortgage repayments, body corp fees, council levies etc). I believe capital growth is typically quite a bit less than a property that has actual land - but is there any reason we should avoid doing this? Are we better off looking outside our local area and finding cheaper houses/townhouses in smaller towns in a similar price range?
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