Buying property within family

Discussion in 'Investment Strategy' started by Mucksy, 24th Feb, 2019.

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  1. Trainee

    Trainee Well-Known Member

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    No i wouldnt. But this may not have weight as a legal argument.
     
  2. Islay

    Islay Well-Known Member

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    The rules have changed recently @kierank. I did post earlier in this thread too. It is not urgent and no forced sales but interested is steep and does accumulate on the RAD.
    We are currently paying almost 6% on the $400k RAD while we wait for my mums place to sell. We have chosen not to sell to a family member for the reasons being discussed above. Refundable Deposit Balance and Accommodation Bond Balance Refund Interest Rates | Ageing and Aged Care
     
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  3. Mucksy

    Mucksy Active Member

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    Hi Kierank, yes the elderly lady was and still is very well looked after. She is in a fantastic, well serviced and resourced home, which is maybe the justification for them needing to sell (eg, more $ required than your average nursing home).
     
    craigc, Marg4000 and kierank like this.