We had a daughter 16 months ago and have been in an apartment on the beach for the last few years, great spot and the rent is only 450 a week. Unfortunately I need to buy as I want my daughter to have access to a yard pool and cubby house etc.
My expectations is that property in Aus in general is around 20% higher than fair value going on historic norms and taking into account changes ie 2 working parents, fuel etc etc
The house only has to drop 10% and Im down 100k and on top of that I would be making good money from interest if i just left that cash in the bank.
But... I think family should come before investments especially if i have enough cash, i have a company that is cashed up and not having a loan I can afford to lose this money. Just dissapointing I will drop that amount of money over the next few years, but I will make it up plus some in other areas :)
