Hi
First time posting on here
Just looking at investing in a holiday rental in port douglas, just wanted to no if anyone on here has done this.Looks like prices have fallen in the last few years and might be a good time to purchase one. The reason for this is we as a family go up there alot.So we no the area quiet well so holiday expenses would drop and also as a long term investment.
Look forward to some reponses.
Hi if you are planning to rent the unit when you are not using it then you would need to be aware of any tax implications of using the property for your own personal use. Check with the tax office regarding how many days you are permitted to use the property before it is no longer considered an investment property. You may be better off buying another form of property and continuing to pay for you accommodation out of your own pocket so that it is less complicated and messy.
One of the more knowledgable investors may be able to help, I haven't purchased this type of property so i am not sure of all the factors that you will need to consider
cheers
Sonya
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