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Belinda B.
Belinda B.
Keilor East, VIC

My husband and I have a property worth around 900,000. We owe the bank approx 450,000.
Should we rent the property and use caladeral to purchase new property? Rental income would be around $450 per week.

Or shoukd we sell and but another property outright?

We also have savings of $100,000 to put towards an investment

Any ideas please

Thank you

3 years ago


Hi Belinda,
Congratulations on getting yourself this far. I would suggest that you hold the property and access the equity. This would of course depend on your incomes, your overall financial position as well as your short and medium term goals. I am very happy to meet with you next week to demonstrate a few scenarios for you to consider
Kind regards

3 years ago

Hi Scott thank you
We are one income for the last year. I ceased work due to the higher demands of caring for our daughter with Diwn Syndrome.
We would like to make a move to the country and would require approx 450,000 for the property we want. My husband would have to leave work to make the move. Then find work. Thats ehy we are not sure to keep the property and rent or sell and buy a new ine outright with no mortgage until my husband finds work then invest using calladeral in new owned property.

Too many devisions and not enough financial knowledge


Hi Belinda,
Sounds like a great move to make for your family. Given those details, I would probably recommend that you sell in Keilor and rent in a town that you like for 12 months with the money invested safely somewhere while your husband looks for work and you get to know the town you move to.
There are lots of beautiful towns from Kyneton to Bendigo where you could buy a good family home for under $400,000 but the work your husband gets will most likely decide where you settle
If you would like any assistance or advice, I am happy to help out.
Best of luck

3 years ago

Thank you Scott much appreciated.


Is this your primary residence? Will this house go up in value more than where you are proposing to live? The current rent is not a very high return and you will pay tax on that money but equally you can deduct expenses from that income.

You are allowed to rent somewhere else and still keep your original house capital gains tax free for up to 6 years.

So have a think about the capital gain aspect and run some numbers. We can run the numbers for you if you like.


3 years ago

Hi Andrew,

The property will likey gonup in value as appose to where we would like to buy. We are looking at property between Bairnsdale and Paynesville.
My parents are that way.

We are in our early 40's and just want to make the mive now rather than ten years time.

We have been in this hoyse 12 months since financing it and five years all up.

I finished work lat year and we are in combined income of 3200 a fortnight.

Would love to see some numbers and ideas from you



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