Hi all,
I was wondering your thoughts on my pending property purchasing dilemma.
My husband and I are eligible for the FHOG in VIC if we buy a newly constructed residence. My query is - can I buy (for example) an 'off the plans' new construction (which may taken another 12 months until full payment is required) with the intent to live in the residence for 12 months post completion and in the meantime buy a second property (established) to live in (which is not eligible for grants or stamp duty savings). Or is it expected to rent until the new construction is complete?
The main reason we are looking at buying a new construction is for the 15-20K of benefits we get out of it. We want to have an investment property within 2 years so we though hey lets buy a new place. Problem is there aren't a lot of new constructions in Melb to purchase that are already available, most seem 'off the plan'. Perhaps we would just be better to forgo the savings and get a good piece of real estate?!
Thanks for reading
I was wondering your thoughts on my pending property purchasing dilemma.
My husband and I are eligible for the FHOG in VIC if we buy a newly constructed residence. My query is - can I buy (for example) an 'off the plans' new construction (which may taken another 12 months until full payment is required) with the intent to live in the residence for 12 months post completion and in the meantime buy a second property (established) to live in (which is not eligible for grants or stamp duty savings). Or is it expected to rent until the new construction is complete?
The main reason we are looking at buying a new construction is for the 15-20K of benefits we get out of it. We want to have an investment property within 2 years so we though hey lets buy a new place. Problem is there aren't a lot of new constructions in Melb to purchase that are already available, most seem 'off the plan'. Perhaps we would just be better to forgo the savings and get a good piece of real estate?!
Thanks for reading