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The Vicar

804 Aged Parent Visa - buying property

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Hi Everyone,

We have just decided to move to Oz on an 804 Aged Parent Visa.

We have searched everywhere but are not able to find out if we will be able to purchase a house to live in after we have applied for the 804 visa and received our Bridging visa A.

We realize that our visa will take many years to come through. How have others managed accommodation during the long wait. It seems too long to live with our daughter and family.

Thanks.

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Hi Everyone,

We have just decided to move to Oz on an 804 Aged Parent Visa.

We have searched everywhere but are not able to find out if we will be able to purchase a house to live in after we have applied for the 804 visa and received our Bridging visa A.

We realize that our visa will take many years to come through. How have others managed accommodation during the long wait. It seems too long to live with our daughter and family.

Thanks.

 

There is always renting. But I am also sure that foreign investors can buy in Australia so can't see any reason why you could not, I don't know the details though but hopefully someone else will be along shortly.

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You would need FIRB approval (Foreign Investment Review Board). But that is just a formality. There are some restrictions, but there are many non residents that buy. I would recommend renting for a while though to see where you like

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VERYSTORMY has pretty much covered it off, it is definitely possible for temporary residents/non residents to purchase property (less restrictions if living in Australia and buying a home), see here also: http://www.firb.gov.au/content/real_estate/real_estate.asp here http://www.firb.gov.au/content/guidance/downloads/gn2_jan2012.pdf and here http://www.firb.gov.au/content/guidance/downloads/gn3_jan2012.pdf

 

 

Regards

 

 

Andy

Edited by Andrew from Vista Financial

Financial Adviser (FPA Member AFP ®) Specialising in UK Expat Advice and Pension Transfers / AR-322874 /AFSL-234951

SMSF Accredited Adviser / UK SIPP Authorised Adviser 

Director  - Vista Financial Services – www.vistafs.com.au 08 8381 7177

 

Please note that my advice is general advice only and professional financial advice should be sought for your own personal situation.

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Thank you all very much for your replies. I now have a clear idea of how it works. Your help is much appreciated.

Edited by The Vicar
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On 10/10/2013 at 11:57, Andrew from Vista Financial said:

VERYSTORMY has pretty much covered it off, it is definitely possible for temporary residents/non residents to purchase property (less restrictions if living in Australia and buying a home), see here also: http://www.firb.gov.au/content/real_estate/real_estate.asp here http://www.firb.gov.au/content/guidance/downloads/gn2_jan2012.pdf and here http://www.firb.gov.au/content/guidance/downloads/gn3_jan2012.pdf

 

 

Regards

 

 

Andy

 

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Hi 

I have tried to get into the links (shows error)  you posted on buying a home as I have decided after 20+  Two month visits to see my sons to come on a Aged Parent visa 804.  I am still independent and wish to live very near one of my sons and not with either of them. Can you provide fresh links also any conditions on me buying a home. ie do I have to buy a new build? Any advice would be gratefully appreciated. 
kind regards

PommyLyn 

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It's complicated but I think this is the correct information for you:

https://firb.gov.au/guidance-resources/guidance-notes/gn3

I assume you're going to arrive on a tourist visa and then apply for the 804 visa while you're in Australia.  That means you'll be on a bridging visa (probably for the rest of your life), and I think that means you are legally a "foreign non-resident",  even though you are physically residing in Australia.  If that's the case, then you'll have to buy a new build.  

Bottom line is that you'll have to apply to FIRB for permission to buy a property (and pay them a fee), then you will have to pay extra stamp duty on your purchase (in most states, you will pay triple the usual amount).  If you're going to live in the property. 


Scot by birth, emigrated 1985 | Aussie husband applied UK spouse visa Jan 2015, granted March 2015, moved to UK May 2015 | Returned to Oz June 2016

"The stranger who comes home does not make himself at home but makes home itself strange." -- Rainer Maria Rilke

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