Running

Sorry for the lack of blogs, ive been trying to keep it in mind to blog more but things just keep getting in the way. Will make it a goal for next month to do 10+ blogs or something.

Anyway running is great. I havnt run for about a year but because of an upcoming fitness test I have been going for lots of runs, anywhere from 2-6km. I really forgot how great it makes you feel while your going and after you finish. Its very very therapudic and lifts your mood alot, especially if your running where there is scenery. Ive got a great spot going around the lake which is never boring and a really solid run, and I have done it at least 5 times over the last week or two. Im feeling much fitter and happier. If your ever feeling a bit flat, I highly recommend getting out and going for a run to totally change your state of mind.

House buying dramas

Ok, so I bought a house (yes, another one). Its for me this time. Heres some photos.



Anyway im very excited and all that, but jeeze im having issues with what Im entitled to/what im not entitled to in the way of entitlements. Heres my post on propertyinvesting.com forums asking for advice...if anyone happens to be reading that knows anything about this id love to hear from you.

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Hi, Really need some clear advice on my current situation....

I Purchased an investment unit in NSW in 2006, and purchsed an investment property in NSW in 2007. I have never lived in either of these - they are purely IP's and I have not claimed the FHOG or any type of concessions.

I am about to exchange on my first property to live in (my first PPOR) in latham, ACT. I have lived on ADF service accomodation previously. Now my question is, am i entitled to the FHOG AND stamp duty deferral?????

I want to get the stamp duty deferral because then I can afford a 20% deposit and avoid mortgage insurance, and simply pay the stamp duty at a later date. From the people ive asked (mortgage broker, solicitor) I have not yet got a clear answer. I am confused because on the act revenue site (http://www.revenue.act.gov.au) It says this under the eligibility paragraph for the deferred duty scheme.....

To be eligible for the deferred duty scheme:

• the applicant must meet the eligibility criteria for either the relevant Home Buyer Concession Scheme, or the First Home Owner Grant; and
• the property must be priced at or below the upper property threshold under the relevant Home Buyer Concession Scheme; and
• the duty deferred must be $1,000 or greater (DI2007-248).

So, thats fine - I clearly meet criteria 2 and 3...So all i need to do is make sure im eligible for the FHOG right?

Here is the FHOG eligibility criteria...

A first homebuyer, who fulfils the eligibility criteria listed below.

• At least one of the applicants must be an Australian citizen or have permanent residency in Australia. A New Zealand citizen who holds a special category visa under section 32 of the Migration Act 1958 (Cwlth) is considered to be a permanent resident and thus qualifies.
• None of the applicants can have previously owned or currently hold an interest in a home anywhere in Australia.
• Applicants must occupy the home, purchased or built, as their principal place of residence for a continuous period of at least six months, beginning within 1 year of settlement or completion of construction.
• Applicants must be at least 18 years old.

So, criteria 1,3 and 4 - no problem. Now - criteria 2 uses the word "home". I havnt owned a "home", ive only owned IP's. Surely the definition is referring ONLY to a PPOR, not a "house" for other people.

So im pretty sure I am eligible for both of these, if my definitions are correct. Can anyone confirm this and put my mind at ease??

Thanks,
Rohan

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Anyway so thats the situation, the revenue office dont make ANYTHING easy. Will hopefully get all this sorted out this week and exchange on the property. Then settlement should be early dec and the property will be mine....

oh, and if you are looking for somewhere to live in canberra let me know!