We are thrilled to introduce the first of of three...Read More
ADF HOUSING INVESTMENT PROPERTY: SUCCESS STORY #51
Welcome to another cracking success story of a young ADF member buying her first home!
Amylee first came to Axon in May ‘21. She’s a driver in the Army and was posted to RAAF AMB in her early 20’s. After watching our educational videos, she had the realisation of putting a plan in place to enter the property market by acquiring her own home (PPOR), by triggering access to some of her ADF and Govt housing entitlements.
With a moderate amount of savings under her belt, incorporating the various grants, and taking advantage of the ‘Axon way’ was a no-brainer to get started. These included: $15K QLD FHOG and ~$11K HPAS, stamp duty exemption of ~$5,600.
Additionally, Deb (the mortgage broker) was able to get Amylee a loan using the minimum 5% deposit amount. Amylee also saved ~$15K in LMI using this little-known grant: First Home Guarantee.
As Amylee has not been serving long enough for DHOAS, we have put that on the shelf, for now.
What you’re seeing here is the outcome of Amylee’s first brand-new home:
- Purchase price: $475K (FULL turn-key package)
- Site start: April 2022
- Key handover: Jan 2023 (including 55 days of construction delays)
- Comparable properties a few streets away are now selling for approx. $630K
The floor plan is functional and the fixtures and fittings are really nice. This property is located in the western growth corridor of Brisbane, which will provide Amylee ongoing sustained and low-risk capital growth for many years to come.
Looking ahead, Amylee and her partner will be relocating to another part of Brisbane – a posting to Gallipoli Barracks in Enogerra. This key event will see this PPOR transition into IP#1. It will generate a rent return and Amylee can commence claiming tax benefits.
We know that the first property is the most important to get right and with the transition from PPOR -> IP#1, this first property is going to provide Amylee and her partner the perfect springboard for the development of a property portfolio.
I’ve included Amylee’s feedback on her experience with us during this process. We will sit with her and her partner in a few weeks to map out what’s next for them – exciting times ahead, that’s for sure!
Let us know what you think of this property and this success story.
PS: if you’re posted to RAAF AMB and you’re NOT doing something like this… why?