buying a house in SA

[wemadeit]

Thanks for this feedback. I am on a 495 visa - so to clarify, if I were to buy a house (new or old) or land to build a residential property - I no longer need FIRB approval?? What if I choose to buy land and not build on it for the forseeable future - is this ok?

Many thanks,

Tom

[Andrew Williams]

Thanks for this feedback. I am on a 495 visa - so to clarify, if I were to buy a house (new or old) or land to build a residential property - I no longer need FIRB approval?? What if I choose to buy land and not build on it for the forseeable future - is this ok?

Many thanks,

Tom

Correct Tom, so if you are to buy a new or established house to use as your main residence then you no longer need FIRB approval.

The same goes for buying land to build your own home again no FIRB is required.

With regards to not building for the forseeable future, not 100% on this one. It used to be that you have to build within 24 months but I think that this exemption may have overuled that.

Give them a call to find out for sure if that is the way you want to go. Very helpful people, details below:


Telephone Inquiries +61 2 6263 3795 (9:00 am – 12:30 pm and 1:30 pm – 5:00 pm AEST, Monday to Friday, excluding public holidays and the period between 25 December and 2 January)
Email for all general foreign investment inquiries firbenquiries@treasury.gov.au


Andy

[wemadeit]

Hi Andrew,

Thanks for your help in clarifying this - gratefully appreciated.

Kind regards,

Tom

Correct Tom, so if you are to buy a new or established house to use as your main residence then you no longer need FIRB approval.

The same goes for buying land to build your own home again no FIRB is required.

With regards to not building for the forseeable future, not 100% on this one. It used to be that you have to build within 24 months but I think that this exemption may have overuled that.

Give them a call to find out for sure if that is the way you want to go. Very helpful people, details below:


Telephone Inquiries +61 2 6263 3795 (9:00 am – 12:30 pm and 1:30 pm – 5:00 pm AEST, Monday to Friday, excluding public holidays and the period between 25 December and 2 January)
Email for all general foreign investment inquiries firbenquiries@treasury.gov.au


Andy

[burgermeister]

I believe the new FIRB rules have dropped the 24 month time limit for building providing you are a temporary resident and buying for yourself ie not part of a company etc.
However be careful as some new developments have time limits imposed either by the developer or the council. For example we looked at new developments in Freeling and Wasleys, both about 15 mins north of Gawler. Freeling is a bigger site and they want it to grow more quickly so it does have a time limit to start the build (18 months I think). Wasleys is only about 50 lots and has no time limit. We went for Wasleys partly for that reason as we are temp residents and probably won't build until we can get permanent status.

[sandar1]

Someone sent me a message looking for the contact of an agent based out at Mawson Lakes, and I have not been able to reply to them. The Agent's name is
Anne Kane, can whoever it was that was looking contact me and I will give you the details. 0439884129

[LordLucan]

Hi there,

Does anyone know if you can buy a house on a 457 visa?

No, you have to use money just like anywhere else! :D