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How long must I stay in the PPOR before switching it to an investment property

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Song | 05 Jun 2013, 09:16 AM Agree 0
Hi
I am living in VIC, and thinking to get my first home to benefit from the subsidies (e.g First home grant). Subsequently, convert it as investment property for negative gear purpose. How long must I reside in the PPOR without violeting rules before I can make it as an investment proeperty? Thanks
  • Eos Property | 05 Jun 2013, 10:53 AM Agree 0
    Hi Song,

    From FHOG Victoria website, "You (or at least one applicant) must occupy the home as your/their principal place of residence for a continuous period of at least 6 months, commencing within 12 months of either settlement or completion of construction (the residency requirement). Subject to the passing of legislation the residency requirement will be extended from 6 months to 12 months for contracts settled on or after 1 July 2013."

    Cheers
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