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  • Profile photo of parkvilleguyparkvilleguy
    Member
    @parkvilleguy
    Join Date: 2007
    Post Count: 2
    February 20, 2007 - 3:20 am

    Im thinking about buying a 3 bedroom house for about 170k and renting two bedrooms out and living in the other room myself I can buy this house with the first home owners grant I have to furnituture the house my self and have to work out how much I can pay in rent any advice will be appreciated.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    February 20, 2007 - 6:05 am

    You possibly could, but you will end up having to pay CGT on 2/3 of the house. Maybe a better way is to move in, claim the grant, and then move out completely and rent it. Use the 6 yr rule for CGT exemption.

    Terryw
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    Profile photo of parkvilleguyparkvilleguy
    Member
    @parkvilleguy
    Join Date: 2007
    Post Count: 2
    February 22, 2007 - 4:30 am

    what is cgt?

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