juliew1499 Posted July 29, 2013 Share Posted July 29, 2013 As non residents our understanding is that we can only buy new built home with the consent of the FIRB. What we would really like to do is buy a second hand property that offers dual living accomodation so that we have somewhere of our own to stay when we come out to Oz for 3 months every year. Our daghter and partner also want to buy but can't afford to do it on their own. Purchasing a property together would solve the problem. Anyone know if the FIRB would consider non residents purchasing 50/50 with Australian citizens on a second hand property? We realise that there are implications of purchasing jointly with family but it 's just the questions - is it possible? Link to comment Share on other sites More sharing options...
Fisher1 Posted July 29, 2013 Share Posted July 29, 2013 Hi We are in the same position as you and I am fairly sure that your proposal is not allowed. The only way, as far as I know, is to buy new. We met a couple a few years ago who had bought land and built on it - you could possibly work something out with your daughter involving building together. I'm pretty sure though that buying second hand is not allowed for non residents, regardless of who they buy with. Link to comment Share on other sites More sharing options...
Incata Posted July 29, 2013 Share Posted July 29, 2013 Try contacting an advisor at whichever bank your daughter banks with. Ideally it should be your daughter who gives them a call. Try and talk to her personal banker as they will be best placed to advise whether or not it is possible. We bank with CBA and have discussed a number of different buying options with them since we have been here and they certainly seem to know their stuff in terms of rules and regulations. Link to comment Share on other sites More sharing options...
juliew1499 Posted July 29, 2013 Author Share Posted July 29, 2013 thanks for your comments, having looked at the FIRB site it would seem that it might be possible to buy a second hand property that is for renovation only. It would appear that as long as you don't live in it whilst the building work is being carried out and as long as you get started in 12 months it should be OK. Just don't want to be on a new build housing estate! Link to comment Share on other sites More sharing options...
buzzy--bee Posted July 29, 2013 Share Posted July 29, 2013 Or buy a knock-down in an established area and then build a bespoke house with dual living. The rules on this differ between states - which state are you moving to? In NSW it is much easier to build a "Granny Flat" in the garden than it is in VIC for instance. BB Link to comment Share on other sites More sharing options...
juliew1499 Posted July 30, 2013 Author Share Posted July 30, 2013 Need a place in Bayside/Melbourne or Mornington Peninsular! Link to comment Share on other sites More sharing options...
buzzy--bee Posted July 30, 2013 Share Posted July 30, 2013 OK, we're in bayside Melbourne. Here loads of old houses are being knocked down and replaced by either one or two new houses on the same block. A lot will depend on your budget. We're in Mordialloc/Parkdale, here the block with old house will cost you around $650,000. Then allow around $1000 per square metre to build. Knocking the old place down is very cheap - around $11,000. BB Link to comment Share on other sites More sharing options...
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