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Is it possible to buy a second property with no deposit? In this video, you’ll learn everything you need to know about buying a second home and renting the first, from using equity to buy a second home to what you need to pay in stamp duty.

00:00 How to Buy a Second Property with No Deposit
01:43 1: How Do You Leverage The Equity In Your Home To Buy the Next?

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Our team here at Hunter Galloway is here to help you buy a home in Brisbane. Nathan & Joshua Vecchio are Senior Mortgage brokers who specialise in making your home journey easy.

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How much deposit do I need to buy a second house?
Can I buy a second house with no money down?
How does equity work when buying a second home?
Can I buy an investment property without a deposit?

Depending on your circumstances, one option you might want to consider is keeping your first home as an investment property. Although there are often emotional reasons for holding onto your first home (perhaps it’s where your children were born), it’s important to make sure the numbers stack up as well. Here are some important points to keep in mind.

Does your home have rental appeal?
First things first – what sort of rental return could you get on your home and how easy will it be to rent? When you bought your home, you were likely focused on finding a place to live rather than what its appeal would be to a wider rental market. Take the time to think about how it stacks up for potential tenants. Is it near public amenities such as shops or transport, or does it have “quirks” that would put potential tenants off?

It’s a good idea to reach out to property managers in your area to get an idea of the rental appeal of your place as well as an indication of what it could rent for.

It’s also important to consider the potential rental yield of your investment property as this will influence the amount of cash flow coming in which can be used to service your loan repayments.

What’s the potential for capital growth?
If you intend to sell your first home further down the track, do your research about capital growth trends for similar properties in your area, keeping in mind that previous sales aren’t a guarantee that prices will remain on the same trajectory. It’s important that you also weigh up any capital gains tax considerations should you intend to eventually sell – make sure you seek out the appropriate professional tax advice for your circumstances.

The six year rule
As the name suggests, the six year rule means you could rent out your primary place of residence for up to six years and keep its capital gains tax free status. Once the six years has past, the Australian Tax Office (ATO) would treat your home as an investment property, meaning it would be liable for capital gains tax should you eventually sell it. Once again, it’s important you get professional tax advice to understand all the details as well as the personal implications of this for you.



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