Buying an IP first was my initial strategy. However, everyone I spoke to told me to buy a place to live first. That way you can take advantage of the first home buyers grant and can paint the walls and do some gardening.
Now whilst I would like the freedom to do those things, I’m not going to be able to afford to buy a place in Brisbane in the area I live now until… never! However I’m getting close to having a deposit together for a place in Toowoomba or Logan or Ipswich where there are still positively geared properties and houses on 1000m blocks ripe for subdivision.
In QLD the first home buyers Grant is now the first home Builders grant, and I’d have to go pretty far out to afford to buy land/build within my budget.
So thank you Mark Coburn for that valuable piece of information. I dare say I’ll be in touch to talk strategy in the near future. Cheers