hi everyony just wanting some advice on what options we have both my partner and myself are wanting to move in together i live in cranbourne nearly own my property a unit owing 45k and partner owns his place in sunshine we will looking at staying in cranbourne we would both rent our propertys out should we look at buying together have no deposit or should we be renting i feel like renting is money wasted or are there other options out there any advice would be gretly appreciated
is there any reason why your partner would not move into your property? if he rents out his existing property he would not have any tax deductions that he could claim as far as loan repayments go because he owns the property outright.
if you rent your property out there would only be minimal tax concessions for loan repayments as the amount outstanding is so low.
he would like to move into a bigger property mine is a bit small
Go to a good solicitor and get a defacto financial agreement that states how much you own of your property before you have your partner move in.
This would protect both your financial interests.
Your Partner could then sell his property and use this for a deposit .
With what is left over you could buy an investment property with a good deposit in both your names.
.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
