In-between cities & chapters
A first-person perspective shared for illustrative purposes only.
This is a fictionalised or user-submitted example provided for general information only. It reflects one family’s personal experience and does not constitute financial, legal or taxation advice. Outcomes will vary. Property values may rise or fall. Tax consequences depend on individual circumstances. Independent professional advice should be obtained before entering any co-ownership arrangement. Letterbox AU Pty Ltd is a connection platform only and does not provide financial product advice or facilitate transactions.
Six Years Ago, We Didn’t Know If Brisbane Was Permanent
Chris’s work brought us from Sydney to Brisbane six years ago.
At the time, we told ourselves it might be temporary.
So we kept our Sydney home and rented it out, just in case.
We rented in Brisbane.
We didn’t want to rush into buying.
We didn’t know how long we’d stay.
Fast forward to now — our two kids are about to start high school, we have community here, and Chris’s role is staying in Brisbane.
This doesn’t feel temporary anymore.
The Financial Tension
Owning in Sydney while renting in Brisbane hasn’t been straightforward.
Because we’re not living in our Sydney property, different tax rules apply. After land tax and other costs, the rental income isn’t what we once imagined it would be.
At the same time, we’re paying significant rent in Brisbane.
We found ourselves in an uncomfortable middle ground:
- Not living in our Sydney home
- Not owning in Brisbane
- And not wanting to sell in a rush
Selling Sydney entirely didn’t feel right either. Aside from emotional attachment, there are tax considerations and long-term family plans to think about.
We felt stuck.
Rethinking the Structure
Instead of asking, Do we sell or not?
We started asking, Is there another way to structure this?
In our ideal scenario, we would:
- Retain majority ownership of our Sydney home
- Reduce the financial pressure it’s currently creating
- Access some of the equity built up over time
- Purchase a family home in Brisbane
After speaking with our lawyer and understanding the implications, we began exploring the idea of selling a minority share in our Sydney property.
Not half.
Not control.
Just a defined percentage.
Why a Partial Sale Made Sense (For Us)
Our thinking was that reducing our ownership share may change the financial dynamics of the property, depending on individual tax thresholds and advice received.
It could also allow us to unlock a portion of equity without selling the entire asset.
That equity could then contribute toward purchasing a home in Brisbane — where we are actually living and raising our children.
Importantly, any arrangement would be:
- Documented through a formal co-ownership agreement
- Structured with independent legal advice on all sides
- Clear about rights, responsibilities and exit options
Nothing informal. Nothing assumed.
Our Five-Year Horizon
We tend to think in phases.
Right now, our focus is:
- Stability for our kids through high school
- Living in the city where we are settled
- Preserving future options in Sydney
Our intention would be to structure the co-ownership arrangement with a defined review period — for us, five years — at which point we’d like to buy-out and move back to Sydney.
Why This Approach Feels Aligned
For us, this isn’t about maximising anything.
It’s about balance.
Keeping a connection to Sydney.
Building stability in Brisbane.
Reducing financial strain in the meantime.
It may not suit everyone.
It involves legal, tax and financial complexity.
And it requires careful advice.
But exploring a shared ownership structure has allowed us to consider a path that isn’t simply “sell everything” or “stay stuck.”
At this stage of our lives, flexibility and stability matter more than perfection.
Important Note
This example is illustrative only and does not represent typical outcomes. Tax implications, land tax thresholds, capital gains and lending arrangements depend on individual circumstances and may change. Property ownership and co-ownership arrangements involve legal, financial and market risks. Independent legal, financial and taxation advice should be obtained before entering any agreement. Letterbox does not provide financial product advice, financial services or hold funds.
