I am a first home buyer and recently, I have found a positive cashflow property worth around 100k. My question is whether I should buy it straight away or look for a more expensive property to take full advantage of the stamp duty benefit? Thanks for your comment in advance:)
M
Depending on the post code will determine how much you can borrow against the property.
If you intend to eventually use it as an investment property make sure it is structured correctly so that the loan interest can be fully deductible when you move out.
Obviously to claim the FHOG and SD concessions the property needs to be your PPOR so i am assuming it is in a town or suburb where you live.
Your mortgage broker should be able to set the loan up in such a manner that you can mvoe out and still claim the full interest expense.
Richard Taylor | Australia's leading private lender
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