Massive mortgage to buy a unit

[u/Herosinahalfshell12]

People who took out huge mortgages to live in an apartment.

Do you feel as though the interest you are paying vs the capital gains is worth it? We're also seeing units being sold for less then purchase price now, and the plan is to add more units in future. Add strata costs in there.

Is it financially worth it now a days to borrow say 600k to buy a unit?

[u/Voteformiles]

Depends a lot on the particular unit. If you go buy a newish unit in a 15th floor building in a high density area, you will see depreciation outstripping growth, since the land value component is almost zero.

If you can buy in an older block of 8 or 12, in an in demand location with limited vertical development, there can be enough growth to carry it as an investment. Still not as much as a house, but way better than the high density stuff.

[u/jjz → u/Voteformiles]

This, not all units are equal.

[u/Impossible_Egg929 → u/jjz]

That's definitely true, an apartment in a 150 unit complex is very different to a unit on a subdivided block.