Good morning everyone, So would love your opinions on my first Home purchase and subsequent capital allocation! Bit about me: Newly married, $120k in liquid assets. Wife has income of $100k, I am wrapping up my $120k job to return to study as I didn't think I was going to have it much longer in Covid. We are looking to purchase first home, established property (seen too many horror stories of off the plan and just not worth the extra $10k subsidy) in inner North Melbourne or North Eastern Suburbs. Initial strategy was to purchase $750k and live in that for the next 10 years. But then the opportunity cost of losing the $40k First Home Owners Stamp Duty exemption was weighing heavily on my mind. So the secondary strategy was to purchase a place for about $630k, pay a little stamp duty, make use of Scomo's LMI guarantee, live in the place for 12 months THEN if the market is looking OK buy the Primary Residence and rent out the $630k unit. So I'm completely open for your thoughts and strategies and would like to add a few questions onto this: 1.) Am I putting too much importance on the opportunity cost of stamp duty being removed for first home owners? It's a fair whack and I don't want to regret that I don't take advantage of Stamp Duty exemptions first time around. 2.) Obviously obligatory "I'm trying to time a 10 point fall and/or see unemployment figures and bad debt stress come through" considering that mortgage stress was already significant around Melbourne BEFORE this all occured, I don't want to buy high and sell low later. 3.) We can borrow $1.2 mil and have approvals for that. Budgeting for $630k at a 5% deposit to take advantage of Scomo's LMI facility, the equation relies on reduced vacancy on that property once we move out in 12-24 months but cash inflows are looking fine for the repayments. 4.) This will mean that we're shifting from diversified ETF and equity strategies to having a much greater exposure to Real Estate. But that diversification can be built up once I get the new job.