HISTORY
Son moved to Brissie with deposit to buy unit/house and did not do anything (rented) until I dragged him and hubby around local area.
We looked at numerous properties, explored hosue and land packages, buying block and getting project home, looked at purchasing houses etc.
Good Luck...We found a new subdivision that was just starting and hubby and I felt (guided by our experiences in NSW that house size and land (flat) was OK and son was happy to drive to and from work from this subdivision)
Son put a deposit on this 'turnkey' property in June 2007 which was supposed to settle in December 2007 as his PPOR. Finally settled after Easter in 2008 purchase price 337K I/O variable loan
Improvements
Fast forward October 2009 and he is looking to buy first IP.
Valuation of his PPOR has increased to 420K by Bank valuers so increase of 70K after improvements.
PLAN
Son has some $'s in offset account so will pay off PPOR by the $ amount and re borrow for IP.
Regards
Sheryn
Son moved to Brissie with deposit to buy unit/house and did not do anything (rented) until I dragged him and hubby around local area.
We looked at numerous properties, explored hosue and land packages, buying block and getting project home, looked at purchasing houses etc.
Good Luck...We found a new subdivision that was just starting and hubby and I felt (guided by our experiences in NSW that house size and land (flat) was OK and son was happy to drive to and from work from this subdivision)
Son put a deposit on this 'turnkey' property in June 2007 which was supposed to settle in December 2007 as his PPOR. Finally settled after Easter in 2008 purchase price 337K I/O variable loan
Improvements
- Blinds
- Security screens
- Stratco insulated patio awning 9020 x 3300
- Garden shed 3m x 3m
- Gates to existing fences
- Airconditioning in lounge room
Fast forward October 2009 and he is looking to buy first IP.
Valuation of his PPOR has increased to 420K by Bank valuers so increase of 70K after improvements.
PLAN
Son has some $'s in offset account so will pay off PPOR by the $ amount and re borrow for IP.
Regards
Sheryn