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Purchasing property in Australia, will it help get a visa

I am often asked if purchasing a property in Australia will assist in getting a visa. The answer is NO!!! In my 29 years’ experience as a registered migration lawyer I can say that it never has affected a person's application in any way. In fact it would be foolish to make a purchase before obtaining a visa for several reasons.

 

Until you get a permanent visa you are restricted to what property you are allowed to purchase, it must be new, never lived in, and be approved for purchase by a foreigner by FIRB (Foreign Investment Review Board). Such properties are usually (sorry, always) over inflated in prices and are not worth the selling price. What happens if you make such a purchase then do not get a visa? I advise my clients to come over when they get the visas granted and rent for a while then look around for work, schools etc.  and are then in a better position to assess the property market and locations. Then you can purchase anything, no restrictions at all.

 

Remember, if it sounds too good etc. etc.

 

My advice, don’t do it, wait.

 

Cheers

 

Chris McGrath

Registered Migration Lawyer

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