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Thanks again for the advice everyone. We will definitely seek some professional advice before taking any drastic action. Re: the suggestion that my husband stay at home rather than me – he suggested that too! Before I had a baby, I would have been more than happy for him to do that. But now that I have my beautiful daughter, I just don’t want to be away from her for 60 hours a week. We’re hoping that the changes we make to our life will ensure that both of us get to spend more quality time with Josie, and get us on a much better investing path.
Thanks again for all the advice.Kate.
Thanks everyone for your feedback. Our first consideration was to sell both IPRs and keep our PPOR. However, when we did the figures, this would reduce our mortgage insufficiently to allow me to stop work – at best I could cut down to 4 days a week (not quite what I’m after). We also considered renting our PPOR out, but the rental would no where near cover the mortgage. We think moving into one of the IPRs is the most affordable option.
I have actually signed up for Steve’s Masterclass in March in Melbourne – so perhaps I will see some of you there.
Thanks again for all the advice (although I’m still not sure we’re doing the right thing!)Kate.
Thanks for the encouragement DD. We considered selling both IPs, and our house and buying something smaller. However, we did some number crunching and figured it would be a more cost effective option to move into one of the IPs (that way we don’t need to pay stamp duty on buying a new house ot live in, and won’t have to pay CGT on the property we don’t sell). I will continue to think outside the square – thanks for the encouragement.
Kate.
