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I wasn't going to do reno's and flog it off. I'd be looking at hanging onto it for 5 years or so if I wasn't living in it. I wouldn't be buying something I'd not neccesarily live in.
Long term, there is going to be a greater number of people needing to live in smaller size accomodation as people get divorced, kids move out or partners pass away, so in the medium to longer term it seems like a good investment.
Unfortunately I'm fairly limited as to the size of the loan I can get as around 20-30% of my income falls into the 'overtime' category, and I'm not comfortable mortgaging up to the hilt as the overtime is sporadic in nature.
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