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  1. #181
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    Quote Originally Posted by BigRedV View Post
    This is really unrealistic in Sydney. A lot of money goes on rent. I think it's a bit presumptuous to say everyone is wasting their money on shopping. Aren't you the one with like a million prams
    But we still bought a house 😜 I wouldn't live in Sydney flat out. If I had skills I would still move because it's ridiculously over priced.

  2. #182
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    Default Negative Gearing - Politics talk

    Quote Originally Posted by monnie24 View Post
    But we still bought a house 😜 I wouldn't live in Sydney flat out. If I had skills I would still move because it's ridiculously over priced.
    Maybe you could've bought a better house if you didn't waste all that money

    I have skills but I don't know how easy it is to move and get a teaching job in other states. My job here is permanent.

    We have a house anyway but I think that your view is too simplistic.
    Last edited by BigRedV; 27-02-2016 at 06:37.

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  4. #183
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    Default Negative Gearing - Politics talk

    Quote Originally Posted by BigRedV View Post
    Maybe you could've bought a better house if you didn't waste all that money

    I have skills but I don't know how easy it is to move and get a teaching job in other states. My job here is permanent.

    We have a house anyway but I think that your view is too simplistic.
    With the type of work DH does, we literally can only live in Sydney or Melbourne, his job isn't available anywhere else, his current job isn't even available in Australia right now, it'd actually be a slight career change when we do move back to OZ. With the hours he works, living too far outside the CBD isn't really an option either as it would mean never seeing him. So it's ridiculously over-priced houses as pretty much our only option. Definitely not as simple as you just need to save, which we do (my husband is a tight ***), or move to a cheaper area/city. The whole reason we are doing this stint in London is to save the pound so that we can afford a house in Melbourne. Never in my life did I think we'd be spending the money we will be spending just to own a standard home.

    Eta: sorry probably should have quoted monnie
    Last edited by HollyGolightly81; 27-02-2016 at 07:30.

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  6. #184
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    Quote Originally Posted by BigRedV View Post
    Given the prices around here I don't know many first home buyers who could afford around here, even units. When a 3 bedroom unit in Wolli Creek is well over $1 million, first home buyers have to look elsewhere.
    There are plenty of older units in your area that sell in the $500,s - first home buyers just want to rush into houses or new dwellings first, when I first bought I bought an old unit and paid it off then moved up to an older house , today first home buyers want to walk straight into a renovated house , we still have young families buying million dollar homes but most of those do at least own a unit that they sell to be able to afford to upgrade

    I believe the government should put in better transport systems ( like fast trains) then buying in Newcastle or Nowra or Bathurst etc would be far easier and more affordable for first home buyers and they can still get into the city in less than half an hour!

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  8. #185
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    Quote Originally Posted by BigRedV View Post
    Maybe you could've bought a better house if you didn't waste all that money

    I have skills but I don't know how easy it is to move and get a teaching job in other states. My job here is permanent.

    We have a house anyway but I think that your view is too simplistic.
    I didn't want a better house. I wanted a simple investment house. It's gained over 100k in three years with basic kitchen Reno. I don't want a 500-600k house because for instance when my 'dumb plumber' was out of work and we were on Centrelink how would we afford it. We wouldn't. The repayments are manageable. These are things people have to look at. Not just buying a first home. But unemployment if it ever happens.
    @holly I can't Multiquote sorry. Yes I understand some jobs are only in Syd etc but that's why I think negative gearing is good because why make first home where you live. Buy in another state. Just saying....

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  10. #186
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    Default Negative Gearing - Politics talk

    Quote Originally Posted by Elijahs Mum View Post
    There are plenty of older units in your area that sell in the $500,s - first home buyers just want to rush into houses or new dwellings first, when I first bought I bought an old unit and paid it off then moved up to an older house , today first home buyers want to walk straight into a renovated house , we still have young families buying million dollar homes but most of those do at least own a unit that they sell to be able to afford to upgrade

    I believe the government should put in better transport systems ( like fast trains) then buying in Newcastle or Nowra or Bathurst etc would be far easier and more affordable for first home buyers and they can still get into the city in less than half an hour!
    Cheapest apartment/villa currently advertised in my suburb is $590k. Just realised my search was for 3 bedrooms. Two bedroom one is $559.

    I actually wish we bought the biggest house first. Instead we bought a tiny 2 bedroom house on 186sqm, fell pregnant, had a baby then upgraded to this house and did an extension. If we had've bought the bigger house first, we would've had heaps more paid off because we didn't have children and both working full time.
    Last edited by BigRedV; 27-02-2016 at 08:06.

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    Default Negative Gearing - Politics talk

    Quote Originally Posted by monnie24 View Post
    I didn't want a better house. I wanted a simple investment house. It's gained over 100k in three years with basic kitchen Reno. I don't want a 500-600k house because for instance when my 'dumb plumber' was out of work and we were on Centrelink how would we afford it. We wouldn't. The repayments are manageable. These are things people have to look at. Not just buying a first home. But unemployment if it ever happens.
    @holly I can't Multiquote sorry. Yes I understand some jobs are only in Syd etc but that's why I think negative gearing is good because why make first home where you live. Buy in another state. Just saying....
    Why would we buy in another state? No real interest in buying an investment property, only an actual home for ourselves.

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  13. #188
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    I've not once said I am against negative gearing, but I do think it should be capped at 2 or 3 properties. It's not fair that if you own enough investment properties that your income tax can be reduced to $0!

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    Quote Originally Posted by BigRedV View Post
    Cheapest apartment/villa currently advertised in my suburb is $590k. Just realised my search was for 3 bedrooms. Two bedroom one is $559.

    I actually wish we bought the biggest house first. Instead we bought a tiny 2 bedroom house on 186sqm, fell pregnant, had a baby then upgraded to this house and did an extension. If we had've bought the bigger house first, we would've had heaps more paid off because we didn't have children and both working full time.
    I think this is also why childcare in our area is so hard to get as both parents need to work full time now to pay for these houses - DH sold one last month to a lovely young couple for $1,046,000 - nice street old house and their parents "lent" them the 20% deposit so their mortgage on $800,000 is $1000 a week - easy as they both are in well paid professional jobs , I fear once kids come and the expenses involved couples like this will struggle, I saw it after the 2003 boom, it was mainly young families who sold up as they can't maintain the payments with childcare etc

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    Default Negative Gearing - Politics talk

    Quote Originally Posted by Elijahs Mum View Post
    I think this is also why childcare in our area is so hard to get as both parents need to work full time now to pay for these houses - DH sold one last month to a lovely young couple for $1,046,000 - nice street old house and their parents "lent" them the 20% deposit so their mortgage on $800,000 is $1000 a week - easy as they both are in well paid professional jobs , I fear once kids come and the expenses involved couples like this will struggle, I saw it after the 2003 boom, it was mainly young families who sold up as they can't maintain the payments with childcare etc
    Plus once interest rates go up they'll be stuffed.

    We are lucky that I am able to only work part time. If interest rates go up too much and we need more money, I will work an extra day or two.
    Last edited by BigRedV; 27-02-2016 at 08:35.


 

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