Hi Westan,
Just have a quick question re your advice to Phobia. “one other consideration, use the 7,000 First home owners grant, consider living in the house and fix it up as you are.”

Wouldn’t Phobia be better off living at home with m&d (if he can) or rent rather than live in a house he is considering to purchase, otherwise it technically isn’t an IP, it’ll be his place and cannot claim any tax deductions, plus he wouldn’t be generating income either.

I have been advised by my financial advisor to continue renting and building up my asset base than purchase a place to live in..

let me know your thoughts..
thanks,
WP