Buying with in laws

Hi,

Me and my wife are looking for a new PPOR to upsize.

Both have steady incomes, and our assets are our current PPOR with minimal equity but have some cash.
The in laws having a steady income, but lots of assets in the form of a paid off PPOR and another vacant land.

We are looking at purchasing a land for ~2million and subdividing it into two blocks.
- We are looking at purchasing in conjunction with in laws
- We want to subdivide, and both will build PPORs subsequently

What is the best way to structure the loans?
If we buy the land together and then subdivide, will this trigger more stamp duty?
Should the initial loan include the construction costs?

 

Enter into a deed to partition the land at the time of purchase and later change to different names in each block without duty again.

Initially you will need a joint loan but on subdivisions you can each get your own loans

 

I thought buying something with the in-laws was bad. But you are going to build neighbouring PPORs?

 

There is a good side to it too, we would like it.

Thanks terry, will have a look into a deed to partition!

 

Legal Tip 77: Joint Purchasers of Land and deeds of partition https://propertychat.com.au/communi...urchasers-of-land-and-deeds-of-partition.3888

 

There is only one thing worse than buying property with the in-laws.

Buying property with their daughter (or son) .

 

I could only think of one thing worse than buying with in-laws, living next door to them!

 

Wouldn't it be worse if you shared the same house?

 

There are positives and negatives
Will work for us!

 

There is another worse... Living with them.