Buying restrictions?
Oct 2nd 2005, 5:07 am
#1
sunseekers
Thread Starter
Joined: Aug 2005
Posts: 99
Buying restrictions?
we are going to adelaide on a sir visa in 2006(hopefully) are there any restrictions on what home we can buy ie new/used ?or is there a time scale we have to abide by? ie cant buy for 12 months etc
thanx for your advise x
thanx for your advise x
Oct 2nd 2005, 5:56 am
#2
Retired
Joined: Apr 2004
Posts: 34,649
Re: Buying restrictions?
Originally Posted by sunseekers
we are going to adelaide on a sir visa in 2006(hopefully) are there any restrictions on what home we can buy ie new/used ?or is there a time scale we have to abide by? ie cant buy for 12 months etc
thanx for your advise x
thanx for your advise x
Until you get permanent residence you are subject to FIRB restrictions. http://www.firb.gov.au
Jeremy
Oct 2nd 2005, 11:55 am
#3
Forum Regular
Joined: May 2005
Location: Adelaide
Posts: 112
Re: Buying restrictions?
Originally Posted by JAJ
Until you get permanent residence you are subject to FIRB restrictions. http://www.firb.gov.au
Jeremy
Jeremy
But dont worry we put an offer in on a house within 3 days of being here,(the agent just put in the contract subject to FIRB approval) put in the forms to FIRB and got permission within a week, house sale completed in 3 weeks, No probs. You can buy new or old. our house is 11 years young
Nick
Oct 2nd 2005, 1:32 pm
#4
sunseekers
Thread Starter
Joined: Aug 2005
Posts: 99
Re: Buying restrictions?
are you on a SIR visa like us though? the one where you have to live is auss for 2 years before getting permanent residency?
Oct 2nd 2005, 11:52 pm
#5
Forum Regular
Joined: May 2005
Location: Adelaide
Posts: 112
Re: Buying restrictions?
Originally Posted by sunseekers
are you on a SIR visa like us though? the one where you have to live is auss for 2 years before getting permanent residency?
Nick
Oct 3rd 2005, 4:43 am
#6
Banned
Joined: Jan 2004
Location: Morayfield - The Posh Part
Posts: 10,138
Re: Buying restrictions?
Originally Posted by nickos12
Hi,
But dont worry we put an offer in on a house within 3 days of being here,(the agent just put in the contract subject to FIRB approval) put in the forms to FIRB and got permission within a week, house sale completed in 3 weeks, No probs. You can buy new or old. our house is 11 years young
Nick
But dont worry we put an offer in on a house within 3 days of being here,(the agent just put in the contract subject to FIRB approval) put in the forms to FIRB and got permission within a week, house sale completed in 3 weeks, No probs. You can buy new or old. our house is 11 years young
Nick
On second thoughts !!
Q6. I am a foreign person living in Australia on a long stay, temporary resident visa. Do I need approval to buy an established house to live in?
A. Yes. Foreign persons temporarily resident in Australia for a period exceeding 12 months from the time of application for approval are eligible under foreign investment policy to acquire residential real estate. If the property being purchased is an established dwelling, that is, one that has been previously occupied or sold, foreign investment approval is still available provided that the dwelling is to be used as the person’s principal place of residence, not for rental purposes and the property must be sold when their visa expires or they cease to reside in Australia. For more detailed information
Oct 3rd 2005, 8:24 am
#7
sunseekers
Thread Starter
Joined: Aug 2005
Posts: 99
Re: Buying restrictions?
thanx for your replies , im hoping to buy asap ,because the prices seem to be rising month by month ,we thought about renting for a couple of years and then buying but prices could have gone up by $80,000 by then , we are going with about $200,000 so will need a motgage too :-(( looking to spend about $300,000 20 miles outside adelaide ,i dont mind travelling into work im used to it i live 30 miles from my present job so its no prob and the further away from the city you go the more you seem to get for your money
