Thanks Jac, just saw your comment! That's certainly the plan to involve him as much as possible : ) 

Thanks for the comments above. Benny I like that approach, it gives a sense of tangibility to it for the 'giftees'.

catalyst, interesting to note you've done this and it worked well.

i think we'll just need to do a spreadsheet to track deposits and interest rate changes over time.

Jamie M wrote:

Exciting times! My wife and I are only three weeks behind you. 

Best of luck with the offer.

Cheers

Jamie

Sure is isn't it! Thanks and all the best to you both. 

Thanks Jacqui, thought that might be the case. 

Will keep the sink in mind too!

Thanks for your input Jamie, those are great suggestions too. I definitely need to do a bit of work to build my case. It's an IP and currently vacant so I'm guessing they'll want a quick settlement – i'll be proposing 60 days though as our first baby is due in 3 weeks so we'll be a bit preoccupied!  

In that case you sure do know the area backwards! Isn't the colour scheme lovely?! I don't know what they were thinking 

Thanks for those suggestions – a new shed of that size would be $5K (Colorbond) and the slab expensive, so I think it's pretty reasonable to bring up these points in the negotiation. Hadn't considered electrician costs, good…[Read more]

Thanks Shahin, that's good to know –  the way I see it, it can be more attractive as it's leverage for negotiation and limits the market somewhat (ie most developers).

Wow thanks for the input everyone! And for putting me on the right track. Much appreciated.

Thanks for the additional reponse Richard, and for your advice Michael, it really is immensely helpful! I don’t know that i’ve fully grasped the best way to structure the loans, and speaking to my bank hasn’t made it any clearer (surprise, surprise!)

Michael, you suggest releasing some equity in our PPOR to fund the purchase costs, etc. which…[Read more]

Hi Richard,Thanks for the welcome and the detailed reply! It's very helpful. I hadn't considered buying a property as anything other than joint proprietors – tenants in common makes a lot of sense if i'm in a lower tax bracket due to limited income/working part time. My initial thoughts are that we would use the equity in our PPOR for the deposit…[Read more]