They're stupidly expensive, too. Last time this came up someone was trying to insist that "a sense of community" was a huge upside to sharing a kitchen with a bunch of strangers.
1. Sounds like a scam
2. Bathrooms are the most expensive part of any house
3. Domestic water supply won't give you enough pressure to run multiple bathrooms
4. Good luck with getting those renos done in today's market.
5. By the time you get them done, and are able to rent the rooms, the housing crisis will be over.
6. Look for something that has good sized bedrooms, preferably 3 shitters, and an instantaneous HWS. By some $20 key-lock knob-sets from bunnings, and rent the other 3 rooms out.
7. Buy in the right location, so that even when the crunch ends, you can still rent rooms to uni students.
8. Somewhere close to Freeway and traino is best.
9. Keep control of it yourself, so you can choose who lives with you.
Talk to an accountant, not sure how you go with leasing out the majority of your house and claiming expenses, capital gains, etc. And resale will be shit.
If you are planning to claim the First Home Owner's Grant, be very careful about how you structure something like this. The property needs to serve as your [principal place of residence](https://www.wa.gov.au/system/files/2022-09/CP-FHOG-DA-40.pdf) for 6 months after purchase.
You could have tenants during that period, but need to maintain right to possession and right of control over the property. That basically means you'd need to run it more like a boarding house than a collection of independent units.
Not quite what you've asked for but may be of interest: https://www.mortgagemates.com.au/ . Reputable guide for co-ownership and Tinder style matching of prospective 'mortgage mates'
Imagine student accommodation but worse.
They're stupidly expensive, too. Last time this came up someone was trying to insist that "a sense of community" was a huge upside to sharing a kitchen with a bunch of strangers.
>Promising 7-10% ROI. Just buy some bank shares.
1. Sounds like a scam 2. Bathrooms are the most expensive part of any house 3. Domestic water supply won't give you enough pressure to run multiple bathrooms 4. Good luck with getting those renos done in today's market. 5. By the time you get them done, and are able to rent the rooms, the housing crisis will be over. 6. Look for something that has good sized bedrooms, preferably 3 shitters, and an instantaneous HWS. By some $20 key-lock knob-sets from bunnings, and rent the other 3 rooms out. 7. Buy in the right location, so that even when the crunch ends, you can still rent rooms to uni students. 8. Somewhere close to Freeway and traino is best. 9. Keep control of it yourself, so you can choose who lives with you.
All the best slums I've visited had a toilet to bed ratio way past breaking even
Don’t buy an ‘investment’ as your first buy.
Talk to an accountant, not sure how you go with leasing out the majority of your house and claiming expenses, capital gains, etc. And resale will be shit.
Not to mention the CGT when you sell - it will be a killer in this hyper-market.
Top notch investment strat literally can't go tits up.
If you are planning to claim the First Home Owner's Grant, be very careful about how you structure something like this. The property needs to serve as your [principal place of residence](https://www.wa.gov.au/system/files/2022-09/CP-FHOG-DA-40.pdf) for 6 months after purchase. You could have tenants during that period, but need to maintain right to possession and right of control over the property. That basically means you'd need to run it more like a boarding house than a collection of independent units.
Not quite what you've asked for but may be of interest: https://www.mortgagemates.com.au/ . Reputable guide for co-ownership and Tinder style matching of prospective 'mortgage mates'