I guess it is going to get messy for our accountant.
Have not had to redraw since making a IP
BUT....we have had this loan for 7 years and have refinanced several times. Bought a car about 4 1/2 years ago, and added a pool to loan about 3 years ago. Oh and added a vacant block of land to loan as well.
Cashback for new roof, kitchen, flooring etc
We never thought we would ever move from our home.
Current loan is still less than what it is valued at with all added renovations and purchases (block and car).
We are going to sell the block Feb next year as I have heard we should not sell til we have had it for a year. Just to get the loan down.
Should we be selling the house as well. Then rebuying a different house just to start afresh? So it is not so messy?
We do have great tenants. Which is fantastic who love the house as there own.
Thankyou so much for your replies....we are new to this and any info is greatly appreciated