If you move in immediately for at least 6 months and claim it as your PPOR, then you can keep it CGT exempt for up to 6 years, even if you are no longer living there it still holds its CGT exemption.  Just something else to think about.

At the moment with rates up and banks being be bit more picky and who they will loan too, i would not recommend a 100% deposit either.  Ideally it is best to have 20% so that you can avoid LMI, but this is becoming more and more difficult.  Talk to a broker and see what your options, how much you can borrow etc and that will give you a f…[Read more]

Hey,I was in your shoes about 1 year ago.  I was earning about 42000K per year.  I had about $12,500 in savings.  I approached a broker and he told me i could borrow up to $240,000K.  So i bought a place for $235,000K with a 5% deposit.  At the end of the day after FHOG and expenses my loan was about $228,000K.  My weekly repayments are about…[Read more]