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Regional Property a cost effective alternative?; Catherine Cashmore opens her trap
Topic Started: 15 Dec 2012, 11:16 AM (4,455 Views)
mel
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Thurs 15 Mar
What do people think? If i was looking to buy something i would want to explore all options before doing so.
http://www.youtube.com/watch?feature=player_embedded&v=Y7imaJXB75I

Edited by mel, 17 Dec 2012, 10:12 AM.
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miw
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mel
15 Dec 2012, 11:16 AM
Thurs 15 Mar
What do people think? If i was looking to buy something i would want to explore all options before doing so.
http://www.youtube.com/watch?feature=player_embedded&v=Y7imaJXB75I

I guess it depends how often you are going to make that commute. $100+ a week in extra fuel, not to mention the vehicle wear and tear does tend to add up. If you could get your dwelling $200k cheaper, it would work out financially, but would you?

At least it is not an article pumping PIs in remote towns. Buying in those places requires quite a bit of local knowledge. Otherwise you are going to be the fool in the room.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
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Ex BP Golly
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miw
15 Dec 2012, 04:49 PM
I guess it depends how often you are going to make that commute. $100+ a week in extra fuel, not to mention the vehicle wear and tear does tend to add up. If you could get your dwelling $200k cheaper, it would work out financially, but would you?

At least it is not an article pumping PIs in remote towns. Buying in those places requires quite a bit of local knowledge. Otherwise you are going to be the fool in the room.
All depend on your purpose.

If its to get rental returns that is good, especially if you plan to retire there.

Or if to live and work there in the there and now.

But would you want to commute two or more hours a day?

Plenty do, catching the train say from Bowral/ mittagong to Sydney.

A yearly ticket is $2300 economic cost, but at 10+ hours a week commuting giving you the equivalant of a 6 day work week!

Id cost that at $35 per hour for wasting my time.

Are you really saving anything by wrecking yourself in this manner?










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Share a cot with Milton?
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Frank Castle
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Business As Usual

miw
15 Dec 2012, 04:49 PM
I guess it depends how often you are going to make that commute.
Here's an idea, one could always get a job in or near the regional.
I am sure my tenants don't do the daily 7 hour drive each way back to Brisbane for work.
Ex BP Golly
15 Dec 2012, 05:32 PM

But would you want to commute two or more hours a day?
Are you really saving anything by wrecking yourself in this manner?
Back when I was doing my trade in the late 80's early 90's I used to have no option but travel up to 100klm each way daily......unpaid.

Jobs weren't as easy to come by then and apparently we were made of sterner stuff than the softcocks of today.
Edited by Frank Castle, 15 Dec 2012, 05:43 PM.
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miw
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Ex BP Golly
15 Dec 2012, 05:32 PM
All depend on your purpose.

If its to get rental returns that is good, especially if you plan to retire there.
I am not saying it is a priori a bad idea. There are great yields to be had. But you need to do your homework. For example, I am medium-term (6-15 years) bullish about Toowoomba, especially in the fringe areas. BUT:

* do you know where the inland route train line is planned to go?
* do you know where the junction between north-south and east-west train line is going to be?
* do you know which blocks are going to be rezoned, and when?
* Which block is the council trying to buy for the next primary school in the district, and from whom?
* And which other blocks in the immediate vicinity does this "whom" own?

If you go to Toowoomba (or Gladstone, or Townsville, or Rockhampton, or Cairns) and buy property, you sure as hell will be taking the other side of the trade from someone who does know. In fact, the other side of the trade probably has a brother-in-law on the council.

I'm not saying don't do it. Just saying that tip sheets like Ryder's "hotspotting" do not have anywhere near the granularity required to make good decisions, and a lot of homework needs to be done - and the requisite knowledge is not published, so you might have to spend a few nights in public bars shouting drinks.

I say this from a close shave with bitter experience.

Quote:
 
Or if to live and work there in the there and now.
But would you want to commute two or more hours a day?
Plenty do, catching the train say from Bowral/ mittagong to Sydney.
A yearly ticket is $2300 economic cost, but at 10+ hours a week commuting giving you the equivalant of a 6 day work week!
Id cost that at $35 per hour for wasting my time.
Are you really saving anything by wrecking yourself in this manner?

I hear you, I hear you. I have a good mate who was commuting from the Sunshine Coast to Brisbane because his missus wanted to live in Marcoola, not anywhere near where he could actually find work to support her "Author" habit. (She is a good writer who has won prizes for her books, but it doesn't even pay the cost of the laptop she writes on.) He was always telling me how, with his netbook and USB mobile modem he got 90 minutes of work done each way on the train to BNE. I do note, however, that the moment the marriage went down the tubes he was into a unit near the CBD like a rat up a drainpipe.

Frank Castle
15 Dec 2012, 05:37 PM
Here's an idea, one could always get a job in or near the regional.
I am sure my tenants don't do the daily 7 hour drive each way back to Brisbane for work.
In that case there is no financial comparison is there? If you get a job in the regional centre then you should live there. It's a bit difficult for some people to find work in regional centres though.

Quote:
 
Back when I was doing my trade in the late 80's early 90's I used to have no option but travel up to 100klm each way daily......unpaid.
Jobs weren't as easy to come by then and apparently we were made of sterner stuff than the softcocks of today.


Bloody oath. When I was a kid I used to run 5 miles to and from school each day carrying a horse.
Edited by miw, 15 Dec 2012, 06:06 PM.
The truth will set you free. But first, it will piss you off.
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mel
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At 1:38 on the clip the host mentions Ballarat:

"I can go from ballarat to melbourne driving at 110kmh compared to someone sitting in bumper to bumper for an hour"


IMHO Essendon would be the cheapest melbourne suburb that would compare to some of the nicer parts of ballarat

Very quick/crude comparison (i looked at no more than 5 houses out of laziness):
$750,000 - $770,000 Ballarat http://www.realestate.com.au/property-house-vic-ballarat-111936091
$1,425,000 Essendon http://www.realestate.com.au/property-house-vic-essendon-112097711

The difference in stamps is also 40K plus. A shitter in a 'bad suburb' of Ballarat can be had for under 200k

The 770K home is walking distance to Myer (below) and a ton of other stores while the essendon home isn't particularly well placed.
Posted Image


They also mention Gosford in NSW - is anyone here familiar with the area?
miw
15 Dec 2012, 05:59 PM
Bloody oath. When I was a kid I used to run 5 miles to and from school each day carrying a horse.
:lol pisser!
Edited by mel, 15 Dec 2012, 06:26 PM.
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
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Frank Castle
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miw
15 Dec 2012, 05:59 PM
Bloody oath. When I was a kid I used to run 5 miles to and from school each day carrying a horse.
Well you sort of get my point.
When I was a kid I used to ride a single speed bike 8klm each way to school and back.
When it rained I caught a bus.

But not today
Now it seems you must be dropped to the door in the latest Range Rover Vogue.


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miw
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Frank Castle
15 Dec 2012, 06:28 PM
Well you sort of get my point.
When I was a kid I used to ride a single speed bike 8klm each way to school and back.
When it rained I caught a bus.

But not today
Now it seems you must be dropped to the door in the latest Range Rover Vogue.

Indeed.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
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Elastic
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mel
15 Dec 2012, 06:22 PM
At 1:38 on the clip the host mentions Ballarat:

"I can go from ballarat to melbourne driving at 110kmh compared to someone sitting in bumper to bumper for an hour"


IMHO Essendon would be the cheapest melbourne suburb that would compare to some of the nicer parts of ballarat

Very quick/crude comparison (i looked at no more than 5 houses out of laziness):
$750,000 - $770,000 Ballarat http://www.realestate.com.au/property-house-vic-ballarat-111936091
$1,425,000 Essendon http://www.realestate.com.au/property-house-vic-essendon-112097711

The difference in stamps is also 40K plus. A shitter in a 'bad suburb' of Ballarat can be had for under 200k

The 770K home is walking distance to Myer (below) and a ton of other stores while the essendon home isn't particularly well placed.
Posted Image


They also mention Gosford in NSW - is anyone here familiar with the area?

:lol pisser!
I'm pretty sure the train from Ballarat can get you to Melbourne in about an hour.

Ballarat to Melb timetable

Edited by Elastic, 15 Dec 2012, 06:39 PM.
Only a rat can win a rat race.

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mel
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Elastic
15 Dec 2012, 06:37 PM
I'm pretty sure the train from Ballarat can get you to Melbourne in about an hour.
Im not sure about the train but i have driven there plenty of times in around an hour.. I love it there. :oo:
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