First investment home buyer for youth

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  [Deactivated] on 31/03/2019 - 09:49

  It is best to have a big enough deposit (20% I think) so you don't have to pay mortgage insurance.

  You wont be available to receive first home buyers grant as it is an investment property and you wont receive it when you do buy a home to live in as that wont be your first home.

  Typical good home loan interest rates are under 4%.

  There is plenty of mortgage calculators you can google up.

  • 

    stirlo on 31/03/2019 - 10:08

    -1

    and you wont receive it when you do buy a home to live in as that wont be your first home.

    Incorrect you can own an investment property that you don’t reside in and still claim the first home owners grant when you purchase the first home you live in.

  • 

    voo123 on 31/03/2019 - 14:11

    I was able to claim FHBG on my 1st ppor even though i already had an investment property.

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  Quantumcat on 31/03/2019 - 09:50

  Talk to a mortgage broker.

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  TheBilly on 31/03/2019 - 09:56

  +1

  For the loan - talk to a mortgage broker
  For purchasing - talk to a conveyancer
  For taxation - tall to a tax accountant

  • 

    netjock on 31/03/2019 - 11:53

    +3

    Google and ATO website will answer 90% of the OP questions. Maybe his first post should be "how do I research information on the internet?"

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  [Deactivated] on 31/03/2019 - 09:57

  +14

  Member Since
  37 min ago

  I ain't falling for this one

  • 

    [Deactivated] on 31/03/2019 - 10:02

    +3

    Dam I hate it when I fall for troll posts

  • 

    [Deactivated] on 31/03/2019 - 10:54

    +2

    Maybe it's the same grade 12 guy who is going to inherit $$$$.

    Supposedly.

  • 

    bobbified on 31/03/2019 - 11:16

    +6

    I ain't falling for this one

    I find it so difficult to believe that someone has sense to save enough (assuming saved), but not enough sense to find out the very very basics of what they're trying to do.

    Automatically makes me think they're just here to "brag" - even though it's really nothing to brag about.

    • 

      plmko on 31/03/2019 - 12:14

      Bingo

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  rompastompa on 31/03/2019 - 10:03

  OP, it's good that you're looking for the future, but invest wisely. Many of your questions can easily be researched by yourself, with follow up questions to the correct people.

  Property purchases right now might not be the best investment. I'd suggest you really look at your financial situation, and what is required.

  I’m being told about different taxes and massive interest rates.

  By who?

  If you're asking friends and family, you're not going to get any different results here! Talk to professionals, not the general populace!

  You wont be available to receive first home buyers grant

  @seano2101 - Unless you live in the property for 12 months (unless this has changed!)

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  monkeybusiness on 31/03/2019 - 11:29

  What government benifits are avaliable?

  • Wait till after the election in May. Labor will overhaul the system as it is and will most likely affect investor's decision making.
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  holdenmg on 31/03/2019 - 12:32

  +2

  I find myself in this situation everytime I play Monopoly and find buying Mayfair and Park Lane works. :+)

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  whooah1979 on 31/03/2019 - 14:18

  I’m a 19 year old

  You may look into renting before signing away the next 30 years.