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First home owners grant- 2 x bedsits

Discussion in 'Real Estate' started by bronto, 12th May, 2009.

  1. bronto

    bronto Member

    Joined:
    23rd Jan, 2009
    Posts:
    11
    Location:
    Gold Coast
    Hi everyone, Just wondering if I can use the FHOG to purchace 2 bedsits that join together and are on the same title? I am not goin to rent the other out just going to make into a large living area.

    Thanks
     
  2. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Bronto

    I am not an accountant but if it's classed as residential

    I don't see why there will be a problem.

    I don't know how your lender will view it though.
     
  3. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Hey Bronto

    If they're on the same one title then you should be able to do what you like :)
    Just be aware with finance that you may find it more difficult if they're especially small eg: under 30sqm in size