Guangwu has just moved to Brisbane for his new job at UQ. He is considering to either rent or buy a place. Him and his partner both worked a few years prior and have each saved around $50,000. If they decide to buy, they will provide a down payment of $100,000. Any other initial expenses will be paid out of pocket by the couple.

The couple has looked around and has found an option that interests them.

A unit in the Brisbane suburbs. A 2-bedroom unit in Fairfield. This option is close to the place they work. There is a strict body-corporate that you need to ask permission for pets, major alterations, etc. However, there are already water saving devices installed and they are allowed to install solar on the roof of the unit, something they value greatly.

Property cost: $550,000 (Offers over $530,000 they think they can get it for $550,000)