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Keeping my first home as an investment

If the great Aussie dream is to own your own home, then investing in property takes things one step further. Financial planner Mark Malone has a tip to get you started.

You may want to hang onto your original home and keep it as a second home for the kids or for holidays, or rent it out as an investment property. Whichever option you choose, we have some solutions for you.

I want to keep my old house as a second home

In this case you’ll be looking at an entirely new home loan for your next purchase. You can view and compare all our home loans to see which loan has the features to suit your needs.

The amount you can borrow will depend upon a number of different factors such as:

  • The equity you have in your existing property. Use our Deposit equity calculator 1 to find out your equity.
  • Your ability to service any borrowings left on your existing property plus the new loan amount. Use our Budget Planner and Repayments calculator 1.
  • The total of your borrowings compared to your properties valuations. This may mean you could need Lenders Mortgage Insurance (LMI).

Review your options:

I want to use my property as an investment

You may want to move into your new home, but keep your current home as an investment property.

The right thing for you will depend on your strategy and your personal situation. We recommend that you speak with you accountant, or a financial planner 2 to understand your best options.

Things you should know

The information contained within this page is general in nature. It serves as a guide only and does not take into account your personal financial needs. Before you act on this information you should seek independent legal and financial advice.

Terms and Conditions apply and are available on request. Application subject to normal credit criteria and approval.

1. A redraw request is subject to approval. A redraw fee applies.

1.The calculations we give you are a general guide only and are based on current interest rates which are subject to change. The formula used in these calculators may change. Before relying on the calculation you should seek independent advice. Calculations do not take into account fees and charges.


Westpac Financial Planners are representatives of Westpac Banking Corporation, AFSL No 233714.