We currently have our PPOR in port Stephens leased out, may not be moving back here but hanging onto it at least while in the CGT free threshold.
I am now consider buying a block of land in Sydney from a new release.
Holding it for 2 years then building.
At what point would the land and eventually new home officially become our PPOR?
And when should I have the bank do a valuation on port Stephens or sell?
I would expect more growth from the block of land than the port Stephens property so would prefer this to be CGT free.
I am now consider buying a block of land in Sydney from a new release.
Holding it for 2 years then building.
At what point would the land and eventually new home officially become our PPOR?
And when should I have the bank do a valuation on port Stephens or sell?
I would expect more growth from the block of land than the port Stephens property so would prefer this to be CGT free.