My partner and I are looking at buying a property. We are unsure as to whether we should buy an investment property or give up renting and buy something to live in.
What are the pro’s & con’s of each? I know that we won’t get the home owners grant for an investment but are there are factors that might outway that?
Cheers,
PeteI currently rent where I live but own numerous investment properties. This might not be the ideal for most but as I dont have a family or children or any real commitments, this is very advantageous for me. The property I own is all tax deductible (meaning I pay at max a quarter of the mortgage) and I can pay a small amount of rent for a place for which I have no real responsibility. The investment property I have will eventually buy my first PPOR when I want the security of a stable home (no balcony!!)
Peter if you buy an investment property you still can use the FHOG which is said to continue until some time in 2007.
Cheers…always wondered when the FHOG would expire.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
