Would it be a good idea to buy now, sell in five years time and buy
a house later?
Q.
We are a family of four - my husband and I, and our twin
daughters who will be in kindergarten this year. We both work full
time and are unsure whether to buy a unit now as the prices are
low, or save more and buy a house later. Would it be a good idea to
buy now, sell in five years time and buy a house later? Is it
better to buy a unit or a house?
A.
It's never a bad time to make a good investment but you will
need to research the market to ensure you find a bargain. This may
take some time. You should be looking for a property in a good
location with a vendor who is desperate to sell. A house is usually
better than a unit but it is better to buy than rent for a long
period.
Each week financial advisor Noel Whittaker answers your
questions.
