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From: Gibson Nolte
Hello all!
My partner and I are just starting out in our investigations of the IP market and are very eager to learn. We have been reading books and magazines and checking out a few websites such as this one (a very accessible, non-threatening forum) and the reiwa site (we live in Perth).
So here's what we're pondering at the moment (there will, no doubt, be limitless ponderings down the track too): As a relatively low income couple (with no debt, mind you) we are curious as to whether we should be looking into living in the first home we buy or renting it out while shovelling in all we can on top of the rent.
You see, we are currently in a rental owned by a family member in a good area with very cheap rent. It seems to make sense to stay here while letting someone else pay higher rent on our IP, doesn't it? We stay in a nice area in a nice house while pouring our excess earnings into the loan before moving in in the last month of our first ownership year to qualify for the $5000 First Homebuyer's Grant.
Any comments? Ideas? At this early stage they will be most appreciated.
Cheers,
Gibson and Claire
Hello all!
My partner and I are just starting out in our investigations of the IP market and are very eager to learn. We have been reading books and magazines and checking out a few websites such as this one (a very accessible, non-threatening forum) and the reiwa site (we live in Perth).
So here's what we're pondering at the moment (there will, no doubt, be limitless ponderings down the track too): As a relatively low income couple (with no debt, mind you) we are curious as to whether we should be looking into living in the first home we buy or renting it out while shovelling in all we can on top of the rent.
You see, we are currently in a rental owned by a family member in a good area with very cheap rent. It seems to make sense to stay here while letting someone else pay higher rent on our IP, doesn't it? We stay in a nice area in a nice house while pouring our excess earnings into the loan before moving in in the last month of our first ownership year to qualify for the $5000 First Homebuyer's Grant.
Any comments? Ideas? At this early stage they will be most appreciated.
Cheers,
Gibson and Claire
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