Increase your borrowing capabilities by increasing your income, 2 homes, one site! Live in one of the homes and rent out the other. Do the sums. Example; A couple without dependents would happily live in the modern 2 bedroom cottage whilst renting out the 3 bedroom family home.
The 3 bedroom family home boasts a new kitchen and generous sized living space. The sunny deck provides a great space to sit in the sun and watch the kids play in the pool. The separate cottage has two bedrooms and is fully fenced making it pet-friendly. The double garage has an extra space that could be transformed into a handy workshop to work on your projects.
Consider combining resources, Mum and Dad in the cottage (built in childcare!) with the Kids and grandkids in the family home. The options here are limitless, homeownership is becoming more difficult and getting creative is almost a prerequisite for success. At this vendor reserve, split the values as....the family home, 400k and the cottage a mere 295k!! Regardless of the splits, this place is super sharp!