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Renters v Buyers please explain this
Topic Started: 16 Aug 2014, 10:20 PM (2,312 Views)
Massive
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Good job op ... Sensible buying ... Seems like even though ur household income is twice the national median u have bought in a sound price range and saved well ..

Smart investing
Edited by Massive, 17 Aug 2014, 02:39 PM.
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Bardon
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Time for your next one noopsy?
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Jock
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noopsy05
16 Aug 2014, 11:00 PM
that 4 years me and my wife were 25 - 29 both working full time earning a combined income of $150,000 (before tax) a year. $30,000 goes to the loan, which gave us enough to save, also enough to go on holidays to fiji, SE asia and America and do soical activities. We dont hsve the best cars though which we dont care about.....

the typical bear answer. Me and my wife have been on a overseas holiday every year and now have a baby on the way, robot life indeed.....when im living for free in 5 years we will see whos living the robot life....
What you say and did is fine and dandy, however I will point out that you are within the top 20% of incomes for a household and I suspect you did not buy a house anything like within the top 50% of house prices. Most people as a couple are on around 80k from the dealings I have had recently with them for various reasons and a good 1/3 of the population are on much less than that as a couple. Eg a couple I sorted some stuff out for, HIM $45kpa as a forklift truck driver, Her $35kpa full time in an industrial laundromat. Really pushing it to buy the cheapest house in a god forsaken soulless non entity of an outland suburb. (and they know it) not only that, they have to feed 2 kids and run 2 cars as we know, poor people have to drive more than rich people on account of having incredibly poor, disjointed public transport (that the rich have in abundance).
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skamy
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doubleview
16 Aug 2014, 10:48 PM
With the vague details it looks as those you are perhaps a drone !

keep going drone enjoy your robot life!
You are the misery guts here, that guy is happy with his life whereas all you do is preach at others and moan and whine.
Definition of a doom and gloomer from 1993
The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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Mike
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noopsy05
16 Aug 2014, 11:00 PM
that 4 years me and my wife were 25 - 29 both working full time earning a combined income of $150,000 (before tax) a year. $30,000 goes to the loan, which gave us enough to save, also enough to go on holidays to fiji, SE asia and America and do soical activities. We dont hsve the best cars though which we dont care about.....

the typical bear answer. Me and my wife have been on a overseas holiday every year and now have a baby on the way, robot life indeed.....when im living for free in 5 years we will see whos living the robot life....
Well done.

You sound very similar to how my wife and I started off. Only difference was I liked to spend and my wife was a saver. I mean a real tight ass saver, she trained me up pretty quickly which was to my advantage. Early in our life we did the same, worked hard, saved hard, cheap holidays. Although our income and house price was less then yours as it was some time ago now.

Bear or those who favour renting, look at the first year of owning property and its costs, but do not calculate that owning property the costs fall over time as you pay the mortgage down which most people do. Mean while rents generally rise.

Renters can if they want rent a superior house for the same cost in the beginning but as time passes on the home owner can buy/build a property superior to anything most renters can afford. Looking longer term good luck to life long renters affording rent when your on the pension or out of your super funds, while the home owner lives rent free.

Like you I started off small in affordable housing. Now I can afford houses which I could never have afforded just renting with an income. I now can live in houses and locations I could only dream off, yet I own these houses and do not need to rent them. Hard work and savings in your 20's really pays off as you get into the middle 30's and realise you don't want to work forever.

Meanwhile the robot renters will work like ants to pay rent to landlords due to poor decisions earlier in life.

Well done, if you keep this pace up you will have nothing but success. It is also far easier to have children with your sound financial base.

Congratulations on bundle of joy on the way and enjoy the sleepless nights and dirty nappies, we had twins so I know the pain. Just remember it is not forever and it soon passes. The sleepless nights that is, the dirty nappies last awhile.
http://mike-globaleconomy.blogspot.com.au/
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noopsy05
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Guest
17 Aug 2014, 11:54 AM
They are only part owners, where the bank is the majority owner still.

How much will you own when prices have dropped 20%.
I'm guessing it would own about as much as when I brought it 5 years ago
Josh
17 Aug 2014, 12:57 PM
$2800 a week is $145600pa. You've just been busted telling fairy tales.

Post tax that's about $1960, you say you save $700 leaving $1260, you need to pay interest + principle that's another $500. That leaves $760, or $320 each. I made more than that 20 years ago per week.

$320 a week and you expect us to believe you are going on OS holidays every year? Fiji is expensive as well FYI, more proof you are full of it.
Sorry if the numbers are not perfect, I'm not going to go through the filing cabinet.

I take home $2000 and the wife $800 after tax. Then $600 comes out every week for the loan ( interest gets put back on loan at end of the month ) so that's $2200 for expenses....
Guest
17 Aug 2014, 01:51 PM
Bit will you and your partner both have jobs next year, or the year after that, or the year after that .

Jobs are dissapearing fast, did you say Melbourne, highest unemployment since 1999.

How safe is your job, how safe is your partners. How safe is everybody else's job ?

Melbourne is headed for severe economic decline, this is a given ,there backbone of manufacturing and production is now broken , and all other sectors are pointimg to decline. Jobs loses are headed to the moon.

The only thing rising there is debt levels and apartment building as a result. The end result will be falling rents and prices, no matter how low interest rates go.


We'll if I can keep my job for 4 - 5 more years I won't have a mortgage and won't have to worry if I can't find work because I'll be living for free. What would renters do?
Massive
17 Aug 2014, 02:10 PM
Good job op ... Sensible buying ... Seems like even though ur household income is twice the national median u have bought in a sound price range and saved well ..

Smart investing
5 letters, CFMEU wage
Bardon
17 Aug 2014, 02:21 PM
Time for your next one noopsy?
Already have an investment property I brought when I was still living at home then brought the one with the wife a few years later. No more buying property's for me. To much of a long term investment
Edited by noopsy05, 17 Aug 2014, 11:09 PM.
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Josh
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Guest
17 Aug 2014, 01:51 PM
Bit will you and your partner both have jobs next year, or the year after that, or the year after that
It makes no difference. If you rent and lose your job you still have to pay the rent. Atleast by buying it won't be a problem he will face for life.

You on the other hand will be like the rest of them and keep waiting for the magic crash.
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