Cons to Buying Smaller Homes in SA
Hello,
Long time reader, first post on BP. I just moved to SA this year. Purchased a home but looking to purchase an investment property. Have about $30K-40K that i can put into a down payment for the investment property. Have more if needed but trying to stick to that budget and see what is possible. Long term goal is to purchase a property a year. but looking to start small. $40K gives me enough to put a down payment on $160K or lower property. My goal is cash flow and capital stability.
After starring at Zillow for days now, several $120K properties are looking appealing to just start the research. Would still have to check condition of the house and area of the house.
Biggest thing that i see is that house around the $120K tend to be 1400 sq ft or smaller. some under 1000 sq ft. Just unsure if it is wise to invest in smaller property in the long term when they are barely bigger than an apartment.
Are there cons in the long run when buying smaller properties?