IP or PPOR

Discussion in 'Investment Strategy' started by Property Hippies, 3rd Apr, 2017.

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  1. Property Hippies

    Property Hippies Member

    Joined:
    26th Oct, 2015
    Posts:
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    Location:
    Melbourne
    Hi Everyone,

    Just looking for a bit of advice if anyone can help?! My partner and I both have IPs in QLD which we are happy to leave alone until they see a bit more growth. We are looking at purchasing a PPOR in Melbourne but the dollars we are looking at are astronomical! Not to mention the competition at auctions!!! Is it advisable to try and get our foot in the door here or look at purchasing more investment properties? We have around 500k as our budget.

    Thanks in advance
     
    Property Hippies, 3rd Apr, 2017
    #1
  2. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

    Joined:
    31st May, 2016
    Posts:
    2,738
    Location:
    Australia
    @Property Hippies

    Not having an insight into where you would like to go with investing or PPOR, it is hard to recommend one or the other. Home is an emotional decision, and also depends on what family commitments and life plans you have. What price point are you looking at for your PPOR? Is it well over the $500k mark?
     
    Property Twins, 3rd Apr, 2017
    #2
  3. pwt

    pwt Well-Known Member

    Joined:
    30th Nov, 2016
    Posts:
    316
    Location:
    Sydney
    Have you considered buying an "interim" PPOR in Melbourne, one that isn't your dream PPOR but ticks all the boxes as future IP? You can then upsize in future with less worry about the growth not being in sync compared to owning properties in other states.
    Whether it is a good time to buy in Melbourne now is something you have to decide though.
     
    pwt, 3rd Apr, 2017
    #3
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