Advantages of Buying a Toowoomba Unit
Toowoomba, the largest inland city of Australia is home to a wealth of different housing styles, ranging from the iconic ‘Character Homes known for their high ceilings, polished timber floors and large verandahs, and now brand new units in Toowoomba seem to be popping up throughout the region, especially within the CBD and University areas, popular with professionals, couples and students that enjoy the luxury of having the city close by.
Today, buying a new apartment in Toowoomba is becoming increasingly popular due to the region going through an economic growth period of more affordable housing, making it easier for first time buyers to get onto the property market.
Investors are also flocking to buying brand new Toowoomba units because of the positive rental return they deliver. Toowoomba units have been a solid investment for investors as they can be 10-20% cheaper than houses and predominately located close to the CBD, shops, hospitals and the University.
The benefit of buying a Toowoomba Unit is you can get the tenant and the taxman to pay for it for you, while it appreciates, and you get a higher claimable depreciation value, plus builders warranty with a new property. The main benefit of newer properties, is that they generally attract higher quality tenants and in particular in the right area are willing to pay a higher price for rent which often translates to lower vacancy rates, which gives you more consistent cashflow, and a higher resale value. For example a 2 bedroom unit in East Toowoomba can achieve a rental return of $350/week, whereas brand new 2BR units in Drayton achieve $300/week.
There are also lower maintenance costs with new units, means they in the long run can be cheaper to own, if you are planning on holding them for a shorter period of time.
If you are interested in buying a Toowoomba Unit today, contact us on 07 4632 2949 to find out where the best suburbs to buy Toowoomba Units are.