I am currently renting one bedroom unit.
What should buy first PPOR or IP ?
– I don't want to loose FHOG + Stamp Duty exemption (7k+(11k – 15k) =18k – 22k )
– But my primary plan is to build MAX portfolio as much as I can. I don't know the exact reason yet, but people say if you want focus on maximizing your portfolio then go for IPs, IPs, IPsI thought and discussed various things on this aspect. Now, I am thinking to buy house + flat(granny) and live in granny and rent out house. This way I can buy bigger house compared to 1bdr unit and get max stamp duty exemption and have a stable flat to live possibly.
My wish is to buy in Inner West or as much as close (livable suburb) possible to city, but with my budget of 350k I think need to go towards West (Merrylands, Guildford etc).
Pls suggest on above strategy of buying house+flat and living in flat and rent out house. If I like staying there I will continue. In this way instead of paying rent to someone else property. I will be paying EMI on building my own property.
I just don't want to keep chaining the flats, buying a PPOR and live there for 6 moths and then rent it out.
I don't think I am qualified to give any advice/suggestion, but I think your idea on buying a house + granny flat then rent out the house sounds great.
We purchased our PPOR first a few years back. While we don't regret it, I sometimes wonder what if we did it the other way around (ie. IP first).
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