Hey im looking to buy my first property. I'm away at work for 2 weeks out of three, so I was thinking of buying a holiday house/apartment that I could rent out while im away. Would I still get the 1st home buyers grant? Would I have any legal mumbo jumbo to deal with? Is it a business? Any help would be greatly appreciated.
Thanks, Dazz
The property will have to be considered to be your home for 6 months. ie You will need to live in it and not use it for income. After that you could rejig things.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
No, it is not a business. You can become a property business if you own properties that you manage yourself. There are other requirements that you must also meet within the guidelines of "are you running a business".
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