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  • Profile photo of jozzajozza
    Member
    @jozza
    Join Date: 2005
    Post Count: 3
    March 14, 2005 - 8:02 am

    Thanks Terryw,
    Our plan is to move into it eventually, so the CGT may not be an issue. How long do you have to live in it to claim it as your main residence?

    Profile photo of jozzajozza
    Member
    @jozza
    Join Date: 2005
    Post Count: 3
    March 14, 2005 - 7:01 am

    mitsinka,
    How is buying an investment property going to help you get your current debts under control? If you are already struggling to pay the other debts, the investment property is just going to be an extra burden. Refinancing and consolidating your other debts may be the way to go. That way you may be able to take advantage of a lower interest rate. The key then is to budget so that you do not fall into debt (other than your mortgage) again.

    Cheers,
    Jacob

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