Recently purchased in Australia. I've gone for a simple apartment in a central location. Just kept hunting until I found something cheaper than it "should" be.

Recently purchased in Australia. I've gone for a simple apartment in a central location. Just kept hunting until I found something cheaper than it "should" be. Not sure about your tax laws but here it's usually best to borrow 100% and chuck your cash on your primary residence mortgage first ideally via offset then the rest offsetting the investment loan. In that sense it may make sense to spend the money upgrading the primary residence and pull equity out for the deposit on the investment so there is a 100+% loan to maximise tax deductions. That's if you are aiming for capital growth and can stomach the lack of cashflow of course.