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Its all relative I think - and depends on the person. 500k is expensive for some people, but very cheap for others. 1m may be expensive for some, and affordable for others. I just meant more "expensive" for you subjectively - meaning you couldnt afford to live in it straight away, or it would...

Congratulations!! May I ask after tax deductions/depreciations, and rent, does this cost a lot to hold?

Thanks all - very valuable and useful advice. To confirm - if you take out the loan for the property as the IP, its obviously tax deductible. At the point at which you move in, the loan is no longer tax deductible, of course. If, later on down the track, you move out again and...

Thanks all, this has been very useful..... Certainly a plan for the next few years.... It would be nice to "lock in" a decent PPOR for the future for when its time to "settle down".

Blackberry or iPhone?? What do you mean about the 12 months? You mean to get the 6 year exemption? The moving in and out thing sounds like a bit of a hassle. I guess it depends how much prices increase while you are out renting somewhere else to justify it or not.

Thanks Boomtown... I assume if you get it valued by a licenced (or some other recognised??) valuer just prior to moving in if you ever sell you are liable for CGT on the increase from when you purchased to the valuation at the time you move in, but thereafter is CGT exempt (unless of course...

Has anybody gone down the path of buying an IP which is - rather than their "usual type", a very expensive (relative to your situation) property which will be rented for a period (say 3 - 5 years) with a view of making it your PPOR down the track? This enables you to buy a much, much more...