I don't think that's a bad idea, coz you don't have to pay any tax on your capital gain and you can rent whereever you like. But becareful though, buy investment properties are not easy, tons of factors need to be considered, capital gain tax, manage tenants, insurance, location, the mood of the entire market at the moment and your future goals. By the way, I am an accountant, if you have some tax related questions, just post a question. I am in QLD, I don't know where are you. Good luck!