Hey all,
I have been inspecting properties over the last 2 weekends (7 properties in total) and I have found one which I would be happy to put an offer on. My partners dad has been very helpful to date. Today he presented me with a newspaper article. http://www.smh.com.au/news/home/bus...rite-home-about/2009/02/28/1235237994241.html
This article talks about the FHOG over inflating prices and prices may stagnate/fall for a few years.
It goes on to talk about how you could use the first home saver and be able to buy in mid 2011 with both partners getting a total of ~$7000 extra from the government (practically giving the higher FHOG in 2 years time).
The FHOG will be taken away (if not june 30, then a bit later). This will drop demand. I've been reading about how unemployment will shake the market and how all the low income earners getting in on the low interest rates will struggle when the rates go back up (this will cause forced sales and prices slump further).
What should I do????? I'm so confused, buy now live in for 6 months (do a reno on it) then rent it out or save for a few years and buy then.
I will be keeping the property long term, no matter what happens over the next few years time will straighten that out, but am I getting into the market a few years early to deal with no growth (probably negative) for years before any good comes of it.....
??????
Cheers,
Chris
I have been inspecting properties over the last 2 weekends (7 properties in total) and I have found one which I would be happy to put an offer on. My partners dad has been very helpful to date. Today he presented me with a newspaper article. http://www.smh.com.au/news/home/bus...rite-home-about/2009/02/28/1235237994241.html
This article talks about the FHOG over inflating prices and prices may stagnate/fall for a few years.
It goes on to talk about how you could use the first home saver and be able to buy in mid 2011 with both partners getting a total of ~$7000 extra from the government (practically giving the higher FHOG in 2 years time).
The FHOG will be taken away (if not june 30, then a bit later). This will drop demand. I've been reading about how unemployment will shake the market and how all the low income earners getting in on the low interest rates will struggle when the rates go back up (this will cause forced sales and prices slump further).
What should I do????? I'm so confused, buy now live in for 6 months (do a reno on it) then rent it out or save for a few years and buy then.
I will be keeping the property long term, no matter what happens over the next few years time will straighten that out, but am I getting into the market a few years early to deal with no growth (probably negative) for years before any good comes of it.....
??????
Cheers,
Chris