Forums / Getting Technical / Finance / Waiting for budget time

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  • Profile photo of leaky; but wholeleaky; but whole
    Participant
    @investingham
    Join Date: 2017
    Post Count: 1

    Hi, first up want to thank everyone for creating this incredible source of investing information.

    I am looking to purchase my first property and have found one I really like. However there seems to be alot of talk about this year’s budget containing a package to ‘fix’ housing affordability issues, particularly for first home buyers. Would there be any merit to holding out until the budget is released? Does anyone have any insight into what the changes may be?

    Thanks for your help.

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    I hear a lot of people say lines about waiting for the next budget, next RBA update, next report – and five years later they still have no properties and waiting for x to happen.

    In the end there will be some form of uncertainty in life – that’s part of the risk on taking any action. If it’s a good investment and you believe it will do well, you’ll just have to ask whether you want to take the leap.

    I think I’ve heard reference to government stating they will make changes to the next budget for housing affordability for years upon years.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,110

    Corey is right. I have a mate who old me he was waiting for Sydney prices to drop before buying. That was about 20 years ago and he is still waiting.

    One potential issue with the budget is the removal of the 50% CGT discount. This could come in from the date of the budget night (Just guessing here) so buying before then may help you (or may not) lock in the 50% CGT discount moving forward.

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

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