Re: Investors or Business Owners
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IMO if you do not own a home now is to get one quick, as paying someone else's mortgage off is to be avoided if possible.
Option 1 - Buy a newish established home that ticks all your boxes, rent out a room or 2 and pay off as much as you can while you make good coin.
Pros - Rent income, for your use when off swing
Cons - Flatmates have run of place when you onsite
Option 2 - Buy a newish established home that ticks all your boxes, give it to a estate agent to rent out and you can negative gear. ( Your wage + rental income less house expenses, rates, bank interest etc = lower taxable income)
Pros - Should allow you larger tax returns (lower income). Work dries up kick tenants out and live there
Cons - Increased purchase costs (stamp duty), dealing with tenants and agents.
Do not buy a old fixer upper.
Buy a practical house (use your head not heart)
Do research of where to buy
If building be aware of time takes to purchase land & build house (lots of downtime before use)
Good luck with your decision making!
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