+ Reply to Thread
Results 1 to 7 of 7
  1. #1
    Join Date
    Jul 2010
    Location
    on a sandy beach!
    Posts
    6,461
    Thanks
    338
    Thanked
    2,224
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts

    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

  2. #2
    Join Date
    Feb 2015
    Posts
    2,435
    Thanks
    2,987
    Thanked
    1,711
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts

    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.

  3. #3
    Join Date
    Jul 2010
    Location
    on a sandy beach!
    Posts
    6,461
    Thanks
    338
    Thanked
    2,224
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    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

  4. #4
    Join Date
    Feb 2014
    Posts
    3,267
    Thanks
    326
    Thanked
    989
    Reviews
    13
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Rent is about the same as mortgage but then we have body corp rates and water as extra

  5. #5
    Join Date
    Feb 2015
    Posts
    2,435
    Thanks
    2,987
    Thanked
    1,711
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    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.

  6. #6
    Join Date
    Jul 2010
    Location
    on a sandy beach!
    Posts
    6,461
    Thanks
    338
    Thanked
    2,224
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    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

  7. #7
    Join Date
    Feb 2015
    Posts
    2,435
    Thanks
    2,987
    Thanked
    1,711
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    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


 

Similar Threads

  1. Renting house out- first timers
    By Rodeobull in forum General Chat
    Replies: 12
    Last Post: 18-02-2015, 13:17
  2. Renting problem
    By Edameny89 in forum General Chat
    Replies: 9
    Last Post: 21-01-2015, 20:47
  3. Building a home whilst renting
    By cakester69 in forum Family Finances
    Replies: 4
    Last Post: 28-12-2014, 14:03

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
FEATURED SUPPORTER
Shapland Swim SchoolsSemi private learn to swim classes for a maximum of 3 children in specialized heated teaching pools. Our swim schools ...
FORUMS - chatting now ...
REVIEWS
"Pigeon teats rule!"
by Alex
Pigeon PP Wide Neck reviews ›
"Wonderful natural Aussie made product!"
by Mrstwr
Baby U Goat Milk Moisturiser reviews ›
"Replaced good quality with cheap tight nappies"
by Kris
Coles Comfy Bots Nappies reviews ›