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Sorry just read the ATO link and you can still claim the deductions. That's great. Any help on the other matters appreciated! Thanks SYDB

Hi, A further question with regards this rule: In July we settled on our first home (unit) in Sydney. We are looking to move around Xmas i.e. after approx 6 months of living here and rent somewhere else in a nicer apartment. If we do this, from what this thread indicates and as I understand...

Thank you for all the responses, very helpful indeed, much appreciated SYDB

P.S. If it makes a difference, we are IO with offset to maintain tax deductibility in case converting to an IP in future (thanks to advice received on this site). I see the property as a good rental property in the future due to location and bought it with that in mind rather than trying to...

Hi, Wife and I just purchased our first unit, will be living in as our PPOR, settlement around one month away. I believe I have heard that if you live in as a PPOR for minimum 6 months, then convert to a rental property (and go rent yourself somewhere else), then you can still pay 0% on...

Thanks BT. Just waiting for finance and val to be approved, then off we go. Decided we couldnt put our life on hold forever for fear of what might happen, of the Steve Keen crash. Very very happy we made this decision. It was certainly the right time for us. I still understand where the...

Hi Rolf, My serviceability is excellent so should be fine to go IO with offset. I will activate the redraw, its part of the package as I understand anyway. I was once a cynical bear on property. Now that I have come full circle, I can only say the advice here is invaluable. Thanks...

Great thread. I am in a similar situation to G Man, except I have just purchased first home yesterday and am going to the bank tomorrow to clarify finance. Subsequent to reading this thread I have spoken to an accountant who has suggested the advice here is correct. Provided you have the...

I got owned in a Dutch Auction but got the place, felt like someone put me in a washing machine Went 5K over my pre-determined limit, but in the scheme of things, Im really pleased - we have been looking for a while and missed out on a few, just happy to have a place Negotiation is tough...

Thanks very much, certainly some food for thought I will continue negotiating, hopefully knock a little off

yeah, i understand, but i got the impression they were pretty keen to sell quickly based on my convo with the agent anyway, i guess you can only suggest that your offer is now X and you can sign today, you have finance/deposit etc......up to them to accept or otherwise I guess.......

Thanks Rolf Suburb is in inner west of Sydney I agree 12 mths is a long time and have factored in some growth, but I am still concerned around the relativities

Hi, Sorry to label urgent but this issue has come up pretty quickly and unexpectedly and I need to resolve by tomorrow. I put an offer in on a property today (FHB), agent has informed it is within vendors expectations, and will call me tomorrow if nothing better comes in and we can sign...

Sorry Propertunity, to clarify: Do you still think the market has a way to run this cycle? Have you not seen a cooling in the last month or so, or is your experience different? If not now, when do you think the cycle will turn down, if ever? Thanks SYDB

No, I think the market has topped out, in the inner west of sydney, where I am looking anyway. I posted my anecdotal evidence of a particular auction I attended yesterday on another forum, here it is: Went to an auction for this property yesterday...

I hope this is tongue in cheek? What, we're safe because of another bailout that simply perpetuates the madness? Interesting theory...... SYDB

You are assuming the Aus banks remain solvent and continue to lend at 90%+ LVRs (or lend at all!). The well is dry, the rules will change. No credit = declining prices. Aus property bubble is premised on neverending supply of credit.

BV, the courts and the politicians can do/say as they please. What else are the talking head going to say, "panic sell, it's over" - of course not.....their words are meaningless drivel. In the end, many will be taking a hair cut. Credit conditions will certainly worsen. Spreads are blowing out...

You could be right Marc. No one really knows I guess. Maybe I will be priced out in 10 years, or maybe I'll be able to buy a house for 10-20% cheaper than I can now in 6 months............or maybe a zillion different things could happen. I'm happy staying out and saving more for the time being...

In the main: - Buyers agents and; - Property investor guru types who run seminars/websites/go on "Your Money You Call" and advise people on what they think they should do with their money Both of these people should be acting in the best interests of their clients and a fiduciary duty...