# Crazy idea i want to know if it can work



## marconi (Mar 25, 2014)

Hi All
i'm single and new to OZ , and i found that renting is a huge burden on my finance.. plus it is dead money...

i thought to buy a house with a loan and rent spare rooms to help pay the mortgage..

but later i got a 1 million dollar idea , only if applicable..

my actual need is not a house its only a studio...so why not many singles like me or who want to own their flat/studio share and buy one land and build a court of studios.... it will be near the cost without profit..

thus you can pay back the loan quicker and save the dead money of renting , and later you have it for selling /renting and move to your house of dreams

who can tell me if its feasibleor not?

Cheers


----------



## kangaroogirl (Aug 25, 2012)

You would need all sorts of council permits and development proposals to do such a thing. Its basically subdividing and it needs to be done legally and through the local council. I'd ask them what their rules are.


----------



## robboat (Jun 12, 2012)

A "court of studios" is called an apartment or unit block here......
About $1m to buy and management is a special talent with people skills.....

You can buy a house and rent rooms to help pay the mortgage.....
Check with the local council and tenant advisory groups in your area to see what you need to do to conform to regulations.....
Otherwise you will have no insurance........

Maybe you should share a house for a while to save your rent.......?
Find out what it is like......?


----------

