Forum Replies Created
Thanks Jamie and Terry
I guess the only benefit of having the equity from our current property used for a deposit would be that it would be an interest only loan.
It’s a tricky one…we were initially thinking of selling our PPOR (in sydney) to buy our new PPOR (also in Sydney). The benefit of this is obviously no CGT and a healthy deposit for our new PPOR. However, the market is so insane that we feel letting go of a property in Sydney would be silly, unless we really had to.
We also have two IP’s, one also in Sydney and another in the Logan area of QLD. We are thinking of selling Logan rather than our PPOR to provide some financial breathing space for ourselves. The performance of this property has left a lot to be desired. I bought both IP’s within a few months of each other, my sydney IP has more than doubled while the logan one is the same as it was when i bought it!
It really is a tricky one and we don’t know whether we would actually be better off keeping our Sydney PPOR or if selling it and using the profit to reduce our new PPOR debt is more beneficial.
