澳洲Australia property Joint PPOR purchase with parents | 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


Hey all, not sure if this is the best sub-forum for this but here goes..

The parents have come up with an idea to get me into a place and them to get a new house.

In a nutshell: I would live in the current place which is paid off, they would build a new house and I would take a 50% loan in this, This would be a 5 year plan, after which either they sell the house I would live in and I get a proportion or I buy it off them at a reduced price. There are a few options.

At the moment I am pretty hesitant as I am not sure how beneficial it is for them minus the peace of mind. They are pretty flexible as to how we work it out. I can't take on a full value loan at the moment even though I work, but I am close to finishing my degree and by year 5 I should be in a much better position.

Can this work? :D  

评论
There are too many "unknowns" in the equation to answer.
e.g.
Is the current "place that you would live in", your parent's only property?
Is it their PPOR?
If not a PPOR, is it a pre-GCT asset?
What is the purpose in your taking a 50% loan out for the new home to be constructed that your parents will live in?
Will they then be paying you 50% of market rent? (so you can claim interest & other expenses)
How old are your parents? i.e. retired or nearing retirement?
Will any of this affect their pension entitlements (if any)?
Have you considered what would happen if one of them were to pass away and the surviving parent were to re-marry? (It happens!)
.....and so on :cool:  

评论
Fair call ;) it is a very rough idea and a little unconventional.

Yeah the house is their PPOR, only property and they are still a few years from retiring. What they were thinking is because I cant do a "full" loan we can jointly 'invest' in a new house which they will live in and I will live in the old house. This means I have to lay out a lot less money initially but still get some return and have a nice place to live and they get a new house. Then within the 5 years or however long we agree to I will be more established and then either we sell one and split the benefits or I buy one off of them.

Of course trying to make it feasible is another thing alltogether :p

Propertunity said: ↑
There are too many "unknowns" in the equation to answer.
e.g.
Is the current "place that you would live in", your parent's only property?
Is it their PPOR? If not a PPOR, is it a pre-GCT asset?
What is the purpose in your taking a 50% loan out for the new home to be constructed that your parents will live in?
Will they then be paying you 50% of market rent? (so you can claim interest & other expenses)
How old are your parents? i.e. retired or nearing retirement?
Will any of this affect their pension entitlements (if any)?
Have you considered what would happen if one of them were to pass away and the surviving parent were to re-marry? (It happens!) -
.....and so on :cool:Click to expand...
 

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