Students are easy to buy house when studying in Australia
Some international students would like to find a stable job, buy a house and settle in Australia after the course. Buying a home in Australia has been difficult because the Australian Government has a lot of regulations.
The good news for Australian students is that the Kangaroo government has "loosened" laws relating to the purchase of housing for international students from the visa term, the advance payment to the use of the home. home and the value of the house, even you can borrow up to 80% of the value of your home.
1. Buying a house to pay
Lower is an international student who has been to Australia for 5 years. With its nimble, agile nature, Lower became the home of two Australian properties. "As soon as I was in school, I decided to move to Australia in the future because I was eligible to apply for permanent residency (PR) after graduation. Moreover, he is also confident and feels capable of finding a job. Therefore, I think that it is necessary to 'settle down' to be able to 'live'.
The first house to buy is an old house, 25 years old and very degraded. However, Ha still accepts because of the huge potential for its location. After buying, Ha has invested to renovate to rent. Although both houses are paid for 30 years, the calculations of this girl is very reasonable and still ensure repayment to the bank each month. "The tenant will pay interest to the family. After 30 years, it will be yours, even if you do not have to pay monthly to pay. "
From that cunning calculation, the house of the first of the Lower Now has the ability to 'grind it self-fry'. 'Winning emerge', Lower left to continue buying second home and rent. Tenants are mainly students because "you are also a student should understand what you need. So I have all the necessary equipment in the house to meet the needs of students. You do not let other people rent because they are more complex and difficult to manage. "
Ha said that nowadays, students buy houses in Australia is no longer rare as before but is gradually becoming popular. "My friend bought me a lot because everyone was thinking of settling in."
2. Students can borrow money from a home purchase bank
In the past, students were only allowed to buy a new house, valued at less than $ 300,000, and had to obtain permission from the Australian Government's Foreign Investment Management Board (FIRF) (www.firb. gov.au). If you want to buy a second home, they must comply with certain conditions such as: over 18; valid for one year; The house they buy is not allowed to be leased but used for residential purposes only; After the visa expires, the house must be sold.
Currently, the law allowing foreigners to invest in real estate in Australia has changed in a more liberal way. Accordingly, students do not need to apply for a house permit from FIRB if their visa is valid for 12 months. In addition, students are also allowed to buy land (vacant land), but the time to apply for land purchase permit can last up to the year.
In addition, under the new law, international students are no longer restricted in terms of real estate value and, depending on their preferences, they can buy new or existing homes without the restriction of the value of the home. as before.
However, international students are not eligible for the government's first Australian Government housing subsidy of $ 16,000-32,000. They also have to pay taxes when buying a home and pay the same annual fees as Australian citizens.
A significant change is that banks now allow students to borrow money to buy a house and loans are worth up to 75-80% of the value of the house. Although students are not required to have a stable job to get a loan, their parents have to guarantee the monthly repayment is timely. In this case, their parents are the subject of financial proof.
Xia said: "My friends are guaranteed by parents to borrow money and you will go to work to pay debts. Your case is the same. Parents give me a deposit and I also pay myself monthly bank payments like you. At first I was under great pressure to pay so I always have to 'nắng nối' to keep the job. However, after that, saving a little money plus low interest rates in recent times makes it 'easier' to breathe.
"I have so much passion for real estate that I am so 'dosed' like that. I dream in the future will become a real estate business.
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