Hello,
I enjoyed Steve's book 0-130 Properties recently and am currently doing lots of research regarding property investing.
My wife & I are interested in buying our first property together as we have just viewed a unit that would be good for a bit of renovations (but not too heavy) and the mortgage would be less than we currently pay in rent. It would become our PPOR at least for a while. We are both on pathway to residency visas and only need to wait until April until we become permanent residents, so wont qualify for First Home Owners Grant until then. If we bought the property in just one of our names would we be able to qualify for First Home Owners Grant by buying the next property in the other ones name (assuming it would then become our PPOR)? Also, can anyone give me advice regarding structuring? I found the chapter a bit difficult to follow at times.
Thanks in advance,
David.The FHOG applies to your first PPR (home) whether or not you have previously owned an investment property. In other words you can go ahead and buy an investment property now and still be eligible for the FHOG later on. If you are married or in a relationship the grant applies to both of you whether you buy in one name or both. Happy to help re advise on structuring loans, feel free to shoot me an email.
Hi David
Firstly welcome to the forum and I hope you enjoy your time with us.
From which Country have come from ?
Nice try by the way but unfortunately if you married you will only get the FHOG once.
If you havent got permanent residency then you wont qualify for the FHOG and also will have issues in qualifying for a loan greater than 80% lvr.
Probably an idea to put in structures in advance to get you up and running so that come April you are ready to strike.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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