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  1. #1

    Post Converting from Commercial to residential

    Hi there,

    I'm new to this, first time buyer and I need a little advise.

    Im looking at buying a commercial property to run my business out of with the potential of living above the business. The property is a 2 story commercial warehouse part of 3 other units. The property is freeholding and has been earthquake strengthen. I am wondering if I can use my Kiwisaver to purchase this building with the intent on living there? And to convert the building into residential? The other 3 units have already been converted into apartments and are being rented out.

    Any help/advise would be much appreciated. Thanks

  2. #2
    Join Date
    Mar 2015
    Location
    Brisbane Wellington Auckland
    Posts
    793

    Default

    Quote Originally Posted by Sam Forbes View Post
    Hi there,

    I'm new to this, first time buyer and I need a little advise.

    Im looking at buying a commercial property to run my business out of with the potential of living above the business. The property is a 2 story commercial warehouse part of 3 other units. The property is freeholding and has been earthquake strengthen. I am wondering if I can use my Kiwisaver to purchase this building with the intent on living there? And to convert the building into residential? The other 3 units have already been converted into apartments and are being rented out.

    Any help/advise would be much appreciated. Thanks
    Did you buy the building ?

  3. #3

    Default

    Get tax advice, you have expensive GST issues when doing this.
    Free online Property Investment Course from iFindProperty, a residential investment property agency.


 

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