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  1. #1
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    Default Renting and owning

    Our house is too small for us. Ideally I want to buy again but don't see that happening in next 3-5 years as I would love buy in our final area hopefully.

    We have three years left on our car loan. (Which I am thinking of refinancing so we can pay off earlier).

    I'm just wondering how much rent you would pay more than your mortgage? Hope that makes sense. At the moment our mortgage is $250pw but we pay $350 we would get that in rent.

    TIA

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    Default Renting and owning

    Around where we are houses worth $300K rent for about $300 pw, $400K for about $400 pw, etc. But it's very suburb dependant.... The best way to find out how much you could get for your house if rented would be to jump onto realestate.com or domain and see what similar places nearby rent for.

    I'm not sure if that answers your question, I was a little confused to what it was. I'm sorry if it doesn't!
    Last edited by babyno1onboard; 19-10-2015 at 12:21.

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    Sorry if you rent and rent your house out. Haha!!

    I know a few people do on here. I wanted to know if there is any positives/ negs. I know our house is worth around $320pw in rental

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    Rent is about the same as mortgage but then we have body corp rates and water as extra

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    Ohhh I see. If the interest component of the mortgage, rates and agent fees are more than what you get back in rent you can claim a loss and get some tax back. If what you get in rent is more, you have to pay income tax on the profit.

    E.g, If the interest part of your mortgage is $250 per week and you rent the place for $375, with rates and agents fees costing say $40, then you pay income tax on the $85 profit.

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    Thanks I'm booked in see accountant this week so will see what they recommend.

    I'm just suffocating here. Our computer is in our pantry 😖 lol

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    Quote Originally Posted by monnie24 View Post
    Thanks I'm booked in see accountant this week so will see what they recommend.

    I'm just suffocating here. Our computer is in our pantry 😖 lol
    Good luck!! I hope it goes well


 

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