u/Interview-Small

I, like I assume a lot of people, have now found myself in a predicament.

For context, I never thought I’d own a property, I moved regionally to make it happen just before COVID. As it stands today the value of my home has of course increased. I now found myself in a position to start seriously considering an IP. I have a daughter, and the idea of slogging it out to give her a chance is very appealing. Then comes the budget announcement……

I was intending to turn my PPOR in to the investment property, and use the equity on a down payment for the ‘forever home’. Now, I have no clue what this change actually means for me.

Can I turn the PPOR in to the investment property with the grandfathered negative gearing arrangement? Or does it not count as it’s not currently an investment?

What does this even mean for the price of this house (PPOR) if I did go ahead with it, would the buyer pool shrink as investors move to new builds? Would I be over exposed to debt?

Anybody in the same position?

Hi all,

Looking at property in Mt Duneed - the lifestyle is appealing and we have family there.

We’ve come across a few houses, all of which have soil class P meaning (I believe) they’re built on clay?

Does anybody have any experiences with this, or currently own a home with this type of classification?

My concern isn’t so much the soil classification but more so ensuring the foundations have been done in a way according to the standards for this type of soil. How can one future proof themselves to ensure this is all done accordingly?

Thanks all!