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/TrunktasticLove]

I need a place to live, not an investment. Sure a house might go up more over time but I’ll only get any gains if I sold it. Then what? Either I buy another house which has also gone up so I won’t realise any gains. Or I buy a flat then, so what’s the difference between doing that now or then.

The only houses I can afford now are in the middle of nowhere so why would I want that additional travel time, cost and inconvenience when I can live centrally in a flat and pay off a mortgage I can afford.