Unfortunately for me I live in Victoria and the government hasn't waived the stamp duty for first home buyers. However, we do get a $3,000 boost I will keep that in mind when I purchase a property. However, trying to find a great deal in the inner west of Melbourne which is a high growth area is no easy task. My parents got a good deal on a…[Read more]

I'm also looking at some properties that are off the plan but it just seems like the stamp duty saving have simply been added onto the price of the house in order to maximise the builders profits. I reckon it really depends on the property you're buying. I've seen older (5 years old)  2 bedroom units in Melbourne's inner west selling for around…[Read more]

hbbehrendorff (interseting name), I can see where you're coming from. Your strategy is safe and reduces or perhaps even eliminates risk altogether. I understand that speculation can sometimes be a dangerous game when it comes to the property market and any other wealth creation activity, however I think if logical steps are taken debt can be used…[Read more]

I'm debating the exact same thing. I could go with a smaller newer property on a smaller parcel of land or a larger much older porperty that probably needs some work done to it although comes with a large block of land. I would like to sub divide the land, possibly have three subdivisions from the one block of land, but I don't think I would have…[Read more]

They don't have any non-deductible debt except a very minor credit card balance. Probably $500. If CBA doesn't have a fully transactional offset account is it possible to just have all their day to day funds be in like a streamline account and then they can deposit whatever excess they have into the offset account?

That's a really good idea! Thanks islandgirl. I found the home loan formulas on the net and have generated a spreadsheet. (http://www.datadynamica.com/FinCalc/Fin3.htm)Is a maximum interest rate of 10% bleak enough for the next few years?Also, can anyone explain what the advantage of paying an interest only loan on an investment property is? If I…[Read more]