Hi all, New to this forum and already learnt a lot in the past few months. Finally decided to post things I have a PPOR in NSW and an investment property in qld . Planning to rent my ppor and buy a new one in NSW Looking to understand the property market and investment in more detail from the wealth of knowledge in this forum. Btw- Not sure how do you move a thread if you have posted in the wrong forum Thanks in advance Peace2all
Well that's a bit of perfect timing! Nice! Are you thinking to use equity to buy the new home, or have you saved up cash for this? It'd be worth having a hard look at whether it's worth keeping the current property, especially if you'll be needing to use equity as the deposit for the next one. If it's not something you'd currently buy as an investment, you may find you're better off selling it (no CGT as it's your PPOR) and using the funds to put down a deposit on the new one. Once that's done,if you still want to buy an investment you can look at accessing equity in your new home as a deposit on a new INV property. Much better from a tax perspective if the current house isn't something you think has long term potential.
welcome to the forum @Peace2all "Not sure how do you move a thread if you have posted in the wrong forum", @Simon Hampel will be able to help here. are you looking at upgrading OO in the same area ( as your current PPOR)?
Thanks Eric and Jess. Yes, I am looking to rent my current ppor and move out to a different area in Sydney. Possibly the hills region, but it's hard to find anything around $900k- $950k though the prices are coming down. May be I need to wait for another 6 months and see what happens.
Your other thread has been moved. The best way to do this in future would be to report the first post in the thread.
