This week on The Property Trio, Cate and Dave unpack a thoughtful listener question from Scott, a long-time investor approaching retirement with an enviable property portfolio and a dilemma many seasoned investors are now facing.

With five investment properties worth $3.2 million, low debt, positive cash flow and retirement only two years away, Scott and his wife are wondering whether now is the right time to purchase a $500,000 Melbourne apartment. Are Melbourne’s affordable units and apartments offering a rare buying opportunity, or is taking on additional debt so close to retirement an unnecessary risk?

Dave steps back from the property itself to explore the bigger picture. He discusses the importance of defining retirement objectives before making another purchase, how investors should think about portfolio purpose rather than simply portfolio size, and why cash flow, debt management and lifestyle goals deserve as much attention as capital growth.

Cate then examines Melbourne’s established apartment market through today’s investment lens. She explores whether recent negative gearing changes could shift investor demand towards more affordable dwellings, why quality still matters far more than price alone, and whether well-selected apartments could finally be poised for a stronger growth cycle after years of underperformance.

The conversation also tackles one of the biggest concerns for apartment investors: owner’s corporation costs. Cate explains why strata fees, special levies and building quality deserve even greater scrutiny in today’s tax environment, and how buyers can distinguish an investment-grade apartment from one that could become an expensive mistake.

Whether you’re approaching retirement, considering your next investment purchase or wondering if Melbourne’s apartment market is finally ready to shine, this episode is packed with practical insights and balanced discussion to help you think beyond the headlines.roperty landscape.

…. and our gold nuggets!

Dave Johnston’s gold nugget: Be proactive! Review your loan, review your structure, and make sure your lending still supports where you are trying to go, and discover what it looks like should you convert the current home into an investment property.

Cate Bakos’s gold nugget: Being comfortable with good debt is essential for anyone thinking about applying this option via their owner-occupied home conversion to an investment property. The challenges for buyers who have elders suggesting they pay down the debt are real, particularly if parents have assisted with the initial purchase.

Download your free copy of Dave’s Money Management Principles – the 7 Steps to Success: https://www.propertyplanning.com.au/money-management-principles

Related episodes:

Ep. 4: How to develop your own Property Plan – start with the end in mind!

Ep. 13: How age and stage of life can impact your property plan and selection

Ep. 92: Property planning and your next purchase – critical considerations and why modelling financial outcomes is vital to success

Ep. 228: All Things Apartments & Units Part 1 – From Boutique to High-Rise, Uncovering Opportunity, Oversupply & Lender Restrictions

Ep. 229: All Things Apartment & Units Part 2 – Secrets to Selection Success, Finding Capital Growth, Land to Asset Ratios & Other Expert Tips

Ep. 274: Fast-Tracking Financial Independence – Navigating Debt, Portfolio Growth, Expenses and Retirement Goals 

Ep. 299: Maximising Wealth in Retirement – When to Divest Properties and Retire Debt to Achieve Lasting Financial Security 

Upcoming ep: #372 – The New-Build Rent Penalty: Who Really Pays for Housing Policy?