Is buying a unit a bad idea now?
We were thinking about buying a unit this year to live in (not because we want to but because houses are completely unaffordable in Brisbane for us unless you move an hour or more out which adds travel time/lessens family time). We currently rent a unit- it’s old, built in the 1980s, ten mins drive from the city, between two train stations. Units like this are going for about 750k (2 bedroom, 1 bathroom). We were thinking that would be a good next step - buy one of those and live in it and when it’s not working we could sell and upgrade. Is this a bad idea now as investors will be unlikely to buy as it’s not new? Will the market be saturated with units for entry level buyers and difficult to sell? Trying to work out if we are better off moving far away and buying a house - which we’d rather not do right now for a range of reasons including schooling for our little one (even though we’d love to live in a house, not a unit) - or if buying an older unit will still be okay in terms of resell in 4-5 years? Would love to hear your view. Ps completely new to buying (first home buyer). Thanks for your help!
Edit: not looking to sell at a big profit or anything - more just want to make sure we will be able to sell on and not at a loss as it’s a short to medium term thing. Thanks again!