If I whack some numbers into a mortgage calculator to work out how much I could borrow on a 25 yr Mortgage at 5% p.a. for repayments to match my current rent, and excluding ALL other costs, I can borrow approx $300k. What the fuck can I buy with that in this market in Sydney? And what the fuck do I do about all those other costs?
On a cash flow basis alone, it makes 0 fucking sense mate. How about you attractive investors keeps subsidising my living costs, and make sure you fix the blind that just broke coz its old, and the heater, that died too, plz fix (urgently too, coz that’s the law bruddah). Oh, there’s a leak in the eves – yep, you get to fix that too. Lucky you’re so attractive!
Oh, by the way, I’ve decided to leave your rental and go to another at a lower price. Coz, you know, competition. Thanks though, have fun with no rental income for the approx 1 – 2 week changeover. Maybe you can take the time to replace the carpet that I damaged, but, because it’s older than 10 years, I don’t have to pay for my non-wear-and-tear damage coz, lol, it’s ‘worthless’ according to the ATO.
That ongoing mortgage repayment must make you feel all warm and fuzzy inside, especially now you’ve lost your FIFO job and are working 2 jobs, one packing shelves at coles, to make sure you can keep up repayments on your glorious mortgage.
Much <3 to you! Thanks for making sure my superfund made lots of money up until 2014 with those mortgage repayments to uber profitable banks. Too bad the party has to come to an end, but that's ok, we had a good run.
Maybe, in 5 – 10 years time, you can rent my place. I'll even give it to you at a discount.
Regardless, you make the classic bear mistake of basing your decision comparing only the first year mortgage costs compared to your current rent. Keep renting - it probably suits you better! You might want to research the concept of net present value of cash-flows analysis to learn how to do a proper rent vs buy comparison.
For Aussie property bears, "denial", is not just a long river in North Africa.....
If I whack some numbers into a mortgage calculator to work out how much I could borrow on a 25 yr Mortgage at 5% p.a. for repayments to match my current rent, and excluding ALL other costs, I can borrow approx $300k. What the fuck can I buy with that in this market in Sydney? And what the fuck do I do about all those other costs?
On a cash flow basis alone, it makes 0 fucking sense mate. How about you attractive investors keeps subsidising my living costs, and make sure you fix the blind that just broke coz its old, and the heater, that died too, plz fix (urgently too, coz that’s the law bruddah). Oh, there’s a leak in the eves – yep, you get to fix that too. Lucky you’re so attractive!
Oh, by the way, I’ve decided to leave your rental and go to another at a lower price. Coz, you know, competition. Thanks though, have fun with no rental income for the approx 1 – 2 week changeover. Maybe you can take the time to replace the carpet that I damaged, but, because it’s older than 10 years, I don’t have to pay for my non-wear-and-tear damage coz, lol, it’s ‘worthless’ according to the ATO.
That ongoing mortgage repayment must make you feel all warm and fuzzy inside, especially now you’ve lost your FIFO job and are working 2 jobs, one packing shelves at coles, to make sure you can keep up repayments on your glorious mortgage.
Much <3 to you! Thanks for making sure my superfund made lots of money up until 2014 with those mortgage repayments to uber profitable banks. Too bad the party has to come to an end, but that's ok, we had a good run.
Maybe, in 5 – 10 years time, you can rent my place. I'll even give it to you at a discount.
thanks for proving you are an idiot (I assume that was what you were aiming for)
My only hope for my three boys is that they turn out nothing at all like Chris.
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