Search results

yes you have to live in there for 6 months within the 12 month period though. My post needed some clarification.

The point is to save interest costs each month if you do have spare cash lying around...but still retain the flexibility to take out your money whenever you want for any other purpose. Plus it doesn't fall foul of the ATO come tax-time.

Yes you can rent it out after you satisfy the OSR's criteria. Don't forget about the first home owner's grant (FHOG) too which is $7,000. As for whether you go for a local/interstate broker, it's really up to you. There's plenty of brokers here who operate in Sydney like Michael (Mick_C) and...

Rolf is saying that the stamp duty exemption only applies to you if you buy a property to live in ( owner occupied ). If you intend to use it as an IP from day 1 then you can't claim the exemption.

When you say extra repayment, I would always recommend that the 'payment' goes into an offset account, not the actual loan itself. Otherwise you get into a sticky tax situation with redraw and you don't want to go down that path. If negative equity occurs, well you just have to wait until you...

I think LMI can be worth it - but like I said it depends on your circumstances. If you are low in free cash but have strong income then I would probably recommend it (if you can afford it). The certificate of currency for building insurance is held by the body corporate (aka owner's...

Hi H2O, welcome to the forum. Answers below: 1. What % of the deposit and repayment of the savings and income would be the safe or conservative approach? 20% or more in deposit is considered safe/conservative, as you avoid mortgage insurance. But it's hard to recommend this exclusively -...