hi. first of all been 'advised' to only post 'focused' questions on this forum so we've decided to break up my previous long posting into several short ones starting with this.
my partner and i are now undecided about whether the first property that we've decided to get should be our PPOR or an IP. it's a land (200K) which we're planning to build a house on (230K).
question is, after spending around 430K on the property, is it a good plan to make it an IP or is it too expensive that we should really only use it as PPOR?
have read some related threads on this (btw, was also 'advised' to read all ---yes, ALL --- the threads in this forum) and most people are saying that an IP shouldn't cost too much. as to how much is too much, not really sure too.
really new to this so appreciate any helpful comments/suggestions/tips.
thanks in advance!
my partner and i are now undecided about whether the first property that we've decided to get should be our PPOR or an IP. it's a land (200K) which we're planning to build a house on (230K).
question is, after spending around 430K on the property, is it a good plan to make it an IP or is it too expensive that we should really only use it as PPOR?
have read some related threads on this (btw, was also 'advised' to read all ---yes, ALL --- the threads in this forum) and most people are saying that an IP shouldn't cost too much. as to how much is too much, not really sure too.
really new to this so appreciate any helpful comments/suggestions/tips.
thanks in advance!