I bought an apartment off the plan a couple of years ago and settlement is coming up in 2 months. With the federal and Victorian state grants, I would be eligible for $13,000 FHOG.
My intention has been to live in it for 6 months to satisfy FHOG criteria and in that time buy another property. After 6 months this would become my new PPOR and I would rent out the apartment.
Now I just found out this week that as long as I don't make the apartment my PPOR and instead rent it our straight away, I can claim the FHOG on a future purchase which will become my PPOR. Is anyone familiar with this or been in this position?
If I were to move into the apartment after settlement while I was looking for a tenant and then moved out before the 6 month period, would my eligibility for the FHOG in the future be affected? Reading the criteria it seems that in theory I should be alright as it wouldn't be for a continuous period of 6 months, I imagine I would find a tenant before then.
Sorry to tell you the bad news … you buy it's used and thats about it.
To clarify, I would of course not claim the FHOG on the investment apartment since I would not actually be living in it. I would claim it on my future purchase.
It does not matter … you buy any property to live or invest in or your partner does or has done….. it's gone.
The FHOG is a one off thing …. so be smart with it.
E.G : You buy an apartment never claim the FHOG and rent it out …. Then you buy another place the FHOG is gone you fail to meet the conditions .
You must be logged in to reply to this topic. If you don't have an account, you can register here.
