Note: Mods you can close my previous similar thread if you want as in this I have another thought to discuss on similar topic
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I am currently renting one bedroom unit.
What should buy first PPOR or IP ?
- I don't want to loose FHOG + Stamp Duty exemption (7k+(11k - 15k) =18k - 22k )
- But my primary plan is to build MAX portfolio as much as I can. I don't know the exact reason yet, but people say if you want focus on maximizing your portfolio then go for IPs, IPs, IPs
I thought and discussed various things on this aspect. Now, I am thinking to buy house + flat(granny) and live in granny and rent out house. This way I can buy bigger house compared to 1bdr unit and get max stamp duty exemption and have a stable flat to live possibly.
My wish is to buy in Inner West or as much as close (livable suburb) possible to city, but with my budget of 350k I think need to go towards West (Merrylands, Guildford etc). And later down the line after 6 months probably I buy uni accomo in which I have interest.
Pls suggest on above strategy of buying house+flat and living in flat and rent out house. If I like staying there I will continue. In this way instead of paying rent to someone else property. I will be paying EMI on building my own property.
I just don't want to keep chaining the flats, buying a PPOR and live there for 6 moths and then rent it out.
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I am currently renting one bedroom unit.
What should buy first PPOR or IP ?
- I don't want to loose FHOG + Stamp Duty exemption (7k+(11k - 15k) =18k - 22k )
- But my primary plan is to build MAX portfolio as much as I can. I don't know the exact reason yet, but people say if you want focus on maximizing your portfolio then go for IPs, IPs, IPs
I thought and discussed various things on this aspect. Now, I am thinking to buy house + flat(granny) and live in granny and rent out house. This way I can buy bigger house compared to 1bdr unit and get max stamp duty exemption and have a stable flat to live possibly.
My wish is to buy in Inner West or as much as close (livable suburb) possible to city, but with my budget of 350k I think need to go towards West (Merrylands, Guildford etc). And later down the line after 6 months probably I buy uni accomo in which I have interest.
Pls suggest on above strategy of buying house+flat and living in flat and rent out house. If I like staying there I will continue. In this way instead of paying rent to someone else property. I will be paying EMI on building my own property.
I just don't want to keep chaining the flats, buying a PPOR and live there for 6 moths and then rent it out.