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Sorry I forgot too add.
I have been researching units and apartments in the CBD area of Sydney.
I have seen small apartments in the 300-400k mark with current rental return of 500 per week.
What are your opinions with these?
Also
The NSW Housing Construction Acceleration Plan
50% off Stamp Duty if purchasing a newly built property before the end of June 2010, and if it does not exceed $600,000.
Can this plan and the first home buyers scheme be utilized together?
Thanks
Eddie
Hey Guys
Thank you so much for your responses.
In regards too the home owners grant, I just had a look at the website including the frequently asked questions.
I am interested in utilizing the first home owners grant as an initial start in property investment.
With 20k in the bank too start out, and also possibility of financial help from my parents; in your opinion, what would you recommend as too buying into houses, apartments, units etc? What areas of NSW, or other Australian states? How much can I borrow? I plan on working 2 well paying jobs in 2011, plus the added financial assistance from my parents.
I also was looking into careers with the Australian Defence Force, and noticed ADF members are exempt from the residence rule in regards too the first home owners grant.
How would I go about the financial aspect of things, such as financing the property etc. I read that I would have to reside in the residence within 12months of purchasing, but only have too reside for 6months, then I can rent it out. I guess I could purchase, rent it out immediately for 12months, live in it for 6 after the completion of the rental period, then re rent it again.
Any information or suggestions appreciated!
Thanks again.
Eddie
