Girlfriend buying house scenario – Advice wanted

Yeah I actually did have a read of that.

Alright well thanks guys, I appreciate all the comments and I can tell some people are going to try blast me for this but I don't really need anymore on the de facto issue please.

I dont think its that folks want to give you hard time

They want you to NOT get a hard time from the OSR.

There are plenty of folks in the past that we have counseled on issues such as this, and I believe its very important that you get good quality independent legal advice, on your personal scenario

What I think, and what you think doesnt matter in the end if it gets to a dispute situation with the OSR. Interpretation of the law and regs is what will matter, and the OSR probably has deeper pockets than you.

ta
rolf
 
First thing - a contract with your girlfrend detailing your input and split division of assets should the "sure thing" fall through.
 
The defacto clause is so ambiguous and open to manipulation its ridiculous.

FWIW worth the plan generally seems fairly solid even if the words "house and land" and "Gold Coast" personally send shivers up my spine from a CG perspective.

I certainly wouldn't see the builders $10K discount or $20K government savings as a form or creating equity, more as a buffer to mitigate the risks of the overall project. Just my opinion though.
 
The defacto clause is so ambiguous and open to manipulation its ridiculous.

FWIW worth the plan generally seems fairly solid even if the words "house and land" and "Gold Coast" personally send shivers up my spine from a CG perspective.

I certainly wouldn't see the builders $10K discount or $20K government savings as a form or creating equity, more as a buffer to mitigate the risks of the overall project. Just my opinion though.

Hmm, I can see what you are saying that the incentives shouldn't be the deciding factor. I thought the basic point of creating equity was creating a product that is worth more than what you payed for. So I thought maybe I was doing this but I can see what you are saying and maybe im wrong.

I am a bit concerned about the northern gold coast and future CG.
Poor economic coniditions here and a huge amount of supply still to come. I wonder if expecting even just a little
 
I certainly wouldn't see the builders $10K discount or $20K government savings as a form or creating equity, more as a buffer to mitigate the risks of the overall project. Just my opinion though.

I wouldn't necessarily see it as either.

Just because you can achieve some saving on the build price does not mean that it's capital value will be that of the full build price.

A look at what is newly built and the sold prices in the area is a much better gauge.

Infact it may be that the 'new' established home that doesn't attract the discounts and gov. savings is a better alternative if you can negotiate the price down hard enough.

YPG, your total build price would be quite a bit over your estimated amount.

There are things you have forgotten to include that a builder generally doesn't, ie. phone cables and trenching, clothes line, TV antennae, air con, possibly some fencing, gates, window/floor coverings, landscape materials, possibly a bobcat and dumping fees, verandah, etc.

It all adds up, and needs to be done sooner or later, especially if it becomes an IP in 6 months time.
 
I wouldn't necessarily see it as either.

Just because you can achieve some saving on the build price does not mean that it's capital value will be that of the full build price.

A look at what is newly built and the sold prices in the area is a much better gauge.

Infact it may be that the 'new' established home that doesn't attract the discounts and gov. savings is a better alternative if you can negotiate the price down hard enough.

YPG, your total build price would be quite a bit over your estimated amount.

There are things you have forgotten to include that a builder generally doesn't, ie. phone cables and trenching, clothes line, TV antennae, air con, possibly some fencing, gates, window/floor coverings, landscape materials, possibly a bobcat and dumping fees, verandah, etc.

It all adds up, and needs to be done sooner or later, especially if it becomes an IP in 6 months time.

Yeah, I too am not sure if she would be better to use her incentive to get a 2 bedroom unit or something. Or even forgo it all together and try to negotiate a much better price on something older. After thinking about it and hearing some of your guys thoughts I think that its probably a good idea to think of the 20k as a buffer and not money made.

I was thinking that the things that weren't including we could knock over in the 6 months while GF lives there. We have a really good electrician and builder family friends who have always given us a good price and do quality work for over a decade. Also I can do a lot of the work that doesn't require higher trade skills like the landscaping, fixing clothes lines, letter box, etc. Over the 6 months if we put in a bit of time and money as it comes in hopefully when this time is up we can even look to possibly selling it then if a good price comes in, otherwise she can hold on to it as an IP.
 
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