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Thanks Beijos! And the 12 month rule you mentioned is correct. That's alright though, living in the house for a further 6 months won't bother me so much. The land potential for my property isn't so great, the entire block is only 360sqm or so.

Thanks I have contacted the RE agent to clarify When you say huge amount what are we looking at?

Hmm that's interesting, thanks for the info Beijos. I thought it was only for 6 months, but living in it for 12 months works for me too. I didn't have my loan pre-approved, the contract was subject to finance but on the day I signed (we were first in on the first day) I wasn't knocked back...

Yes this is what I meant... sorry share=board means the same thing to me (not the same as rent) should probably choose my words carefully:)

No, there was the option of taking the shared equity scheme but I was able to afford it on my own. This means that I own it 100% as a FHB and have the same rights as any other FHB when it comes to renting it out.

Thank you MTR and westminster :) What are the pros and cons with options 1 & 2? I want to select the one which makes more financial sense but I think that would involve a lot of assumptions. Will be speaking to an accountant about that one. My original plan was to live in it for 6-12...

Hi all, Just a quick update. I purchased my first home/IP last month and am currently organising finance with Rolf (thanks!) It was a quick decision on the day to buy with the help of my mum, it was only the second home open I've been to in my entire life (I probably deserve a few slaps...

Thanks for the info UrbanPlanner, much appreciated - I was reading about an interesting proposal by the City of Stirling to re-invigorate the Dianella Plaza. The plans were there since ~2010 but it looks like it's come to a standstill, hence my question. I also spoke to a real estate agent a few...

You have been proven right :p

Update Just wanting to post an update to share my experiences as a first home buyer, and will continue to post to this thread to track my thoughts and progress, evaluate my findings, and to make myself accountable. Since my first post I’ve had to backtrack to really think about and better...

Thank you everyone for your responses and for welcoming me to the forum. I have been thinking about what you've all suggested and advised so that's why I've taken so long to post again. I've listed some questions below (possibly very basic but I'm just starting), mostly for my reference, They...

Hi everyone, I've had the good fortune to stumble across this forum while doing my research on IPs and would like to say what many others have said before, what a wealth of knowledge and information to be found! I've been lurking for a while now reading the old threads and this is my first...