澳洲Australia property To turn PPOR to IP or not ?? | Sydney


在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo


Good evening
Great forum, excellent place to read up on.

I am after some advice.
My wife and I both 54
Wife is currently on 90k/year works semi-part time (0.7)
I am a self funded retiree on a 60k/year pension as a result of injury caused 9 years ago.
Our PPOR is currently valued at 500k 5 bedroom home, nice suburb. Currently 250k mortgage still on the home, have only ever redrawn for improvements on the home.
Wife & I are considering retiring to beach side town about 70kms from home but are not ready to sell our family home just yet. Rentals in this town are cheap & we could get a nice townhouse for $250/week.

Would we be best to turn the PPOR into an IP for the next 3 years or so until my wife retires whilst renting elsewhere?
Or our other option is to let one of our kids (& their partner) move in to the house & rent/pay board & just look after the house & cover the mortgage whilst we rent elsewhere. If we chose this option we would also probably continue to spend time (at least a few nights a fortnight) at the house so would not have a problem with still claiming it as out PPOR

Because the PPOR loan is 250k & from doing some research market rent is likely to be $500/week would it be worth converting it to an IP? There would be significant depreciation as we have completed major renovations.

What I am keen to get some advice on is should we convert it to an IP whilst renting elsewhere or would it just be easier to let the kids use it & keep making additional payments on the loan & put any board/rent from the kids in to the loan & try & get it paid down asap??  

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