eintracht

We are looking to get our visas granted by around the middle of next year but do we have to wait until then to be able to buy property or land ?

Are there restrictions stopping us buying now ?

Thanks

Chris

cresta57

You can buy a new home or land with approval from these guys, check out the link below. Once you buy land you immediately pay rates [in Qld anyway] also you may have to meet local council regulations i.e keeping the grass cut. We had to pay a bloke $80 bucks a fortnight to come with a slasher during the wet season, not a lot of cash but inconvenient if your out of the country and cannot find someone suitable.

http://www.firb.gov.au/content/default.asp

http://www.firb.gov.au/content/Publi...ing_a_Home.pdf

stevereed

and if you buy before you get PR, I don't think you'll get the first home buyers grant which varies between £7000 - $12000 depending on which state your in.

cresta57

If land/house prices rise at the rate of inflation waiting another 12 months just to get the FHOG will cost you more than you'll get anyway. [on the average priced block]

stevereed

fair point. Doesn't buying as a non resident cause the imposition of far more stringent rules. ie. it must be a new property, or if a plot that the building work must be completed within 12 months of acquisition.

I guess it depends what your after and how much hard cash you have, but having looked at the firb site it seems a lot more hassle to buy, especially if you are not actually residing in the country at the time either on a temp visa or PR one.

cresta57

My folks bought a block of land here[on a 3 month tourist visa] and had paid for it before they heard about firb They contacted them as soon as they were aware and received a snotty letter from them stating they would be prosecuted for the offence they'd unwittingly committed. The real estate agent and /or solicitor should have covered that base but were just interested in making a quick buck [aren't they all? ]
A couple of letters from a solicitor and all was sorted.........Until the builders managed to drag a 12 week build time to 11 1/2 months, exceeding the 12 month rule and incurred further threatening letters . Don't know if this happens in every case and I'm sure the majority of deals go through effortlessly.