Hi all,
I was wondering what 99% of investors do; interest only or principle + interest. I take it that it's the first and a dumb question to ask.
My situation is that I plan to buy my first PPOR but it has a lease attached for a couple of months before I can move in. This means it won't be exempt from CGT if I plan to live in it for 12 months, rent it out for 6 years and move back or sell it. This is my biggest worry. Should I just look for something else that is vacant?
What if say I knew after 2 years I was most likely going to rent it out as an IP, does it matter too much that I am buying it with a lease and not being able to take possession on settlement? Is it normal to convert a P&I loan to PO loan?
Who else has been in this situation and what do you recommend?
Will.
I was wondering what 99% of investors do; interest only or principle + interest. I take it that it's the first and a dumb question to ask.
My situation is that I plan to buy my first PPOR but it has a lease attached for a couple of months before I can move in. This means it won't be exempt from CGT if I plan to live in it for 12 months, rent it out for 6 years and move back or sell it. This is my biggest worry. Should I just look for something else that is vacant?
What if say I knew after 2 years I was most likely going to rent it out as an IP, does it matter too much that I am buying it with a lease and not being able to take possession on settlement? Is it normal to convert a P&I loan to PO loan?
Who else has been in this situation and what do you recommend?
Will.