by Lightning McQueen » Wed Jun 22, 2016 11:12 am
by The Bedge » Wed Jun 22, 2016 11:13 am
Lightning McQueen wrote:After buying a house around 12 months ago, I'm beginning to wonder if it was worth it in the end.
When shit goes wrong, I have to pay for it and I probably shouldn't have laid out $70K as a deposit, being a single parent I reckon I'd rather have money at my disposal and a life.
Has anyone else been in a similar predicament?
Dolphin Treasure wrote:Your an attention seeking embarsement..
by am Bays » Wed Jun 22, 2016 11:28 am
by Booney » Wed Jun 22, 2016 12:10 pm
by Lightning McQueen » Wed Jun 22, 2016 12:19 pm
Zartan wrote:Lightning McQueen wrote:After buying a house around 12 months ago, I'm beginning to wonder if it was worth it in the end.
When shit goes wrong, I have to pay for it and I probably shouldn't have laid out $70K as a deposit, being a single parent I reckon I'd rather have money at my disposal and a life.
Has anyone else been in a similar predicament?
Probably not a footy related discussion
by Booney » Wed Jun 22, 2016 12:29 pm
Lightning McQueen wrote:Zartan wrote:Lightning McQueen wrote:After buying a house around 12 months ago, I'm beginning to wonder if it was worth it in the end.
When shit goes wrong, I have to pay for it and I probably shouldn't have laid out $70K as a deposit, being a single parent I reckon I'd rather have money at my disposal and a life.
Has anyone else been in a similar predicament?
Probably not a footy related discussion
LOL, my net has done some weird shit today.
by JK » Wed Jun 22, 2016 12:33 pm
am Bays wrote:I thought this was going to be anohter Salary cap thread and further comment on Norwood buying the 2012-14 premierships.
As a Bays fan I'd settle for renting a premiership....
by Booney » Wed Jun 22, 2016 12:36 pm
am Bays wrote:I thought this was going to be anohter Salary cap thread and further comment on Norwood buying the 2012-14 premierships.
As a Bays fan I'd settle for renting a premiership....
by Lightning McQueen » Wed Jun 22, 2016 12:42 pm
Booney wrote:It's a long standing debate that both sides would have +'s and -'s for.
I know people who have rented all their life, have retired on a healthy superannuation sum that they regularly contributed to and have led a comfortable life on mainly one wage. They've never had the headaches of leaking roofs, rusted gutters, dead hotwater services etc etc.
I know people who have 8 properties in their portfolio who regularly "turn over" property by buying, renovating, leasing for 12 months and selling. They go overseas at least twice a year. They probably have about $3-3.5m in assests and about $2-2.5m in debt. They plan to sell a couple upon retirement and one every 4-5 years after that.
Me, I've been a home "owner" for 18 years now and can see the advantages of both, I guess it comes down to the long term vs the short term.
Short term you've got the potential to have extra disposable income ( obviously the mortgage you have vs the rent you pay ) but would you be making sure you invest in your long term future? Super etc.
Long term owning a home should be of benefit, but this will depend upon your ability to ever own the bloody thing!
Good luck deciding!
by Q. » Wed Jun 22, 2016 12:44 pm
by Corona Man » Wed Jun 22, 2016 12:55 pm
Lightning McQueen wrote:Booney wrote:It's a long standing debate that both sides would have +'s and -'s for.
I know people who have rented all their life, have retired on a healthy superannuation sum that they regularly contributed to and have led a comfortable life on mainly one wage. They've never had the headaches of leaking roofs, rusted gutters, dead hotwater services etc etc.
I know people who have 8 properties in their portfolio who regularly "turn over" property by buying, renovating, leasing for 12 months and selling. They go overseas at least twice a year. They probably have about $3-3.5m in assests and about $2-2.5m in debt. They plan to sell a couple upon retirement and one every 4-5 years after that.
Me, I've been a home "owner" for 18 years now and can see the advantages of both, I guess it comes down to the long term vs the short term.
Short term you've got the potential to have extra disposable income ( obviously the mortgage you have vs the rent you pay ) but would you be making sure you invest in your long term future? Super etc.
Long term owning a home should be of benefit, but this will depend upon your ability to ever own the bloody thing!
Good luck deciding!
I've been a home owner for most of my adult life, when I separated I sold and then re-bought but obviously on a single income.
Doing the maths, I can see why I'm going through money so rapidly as 80% of my pay is already accounted for and I get paid monthly, I have pondered working back out in the factory and cashing in on all the overtime but it's split shifts and my kids are too young to be left alone at home.
We survive, it's just the unexpected things that pop up, my daughter has a state cricket tournament in January for 9 days now plus a volleyball tournament in Melbourne during December that will bear decent costs, my son is now hitting the age where there's representative opportunities coming up too so it's a bit daunting.
It will be easier when it's just me that I have to worry about.
by Lightning McQueen » Wed Jun 22, 2016 1:10 pm
by Wedgie » Wed Jun 22, 2016 1:21 pm
Armchair expert wrote:Such a great club are Geelong
by Corona Man » Wed Jun 22, 2016 1:25 pm
Lightning McQueen wrote:Pretty much on the mark there C-Man, if I keep my mouth shut and continue my good work the opportunities for big coin could present themselves.
I too "had", a small mortgage compared to house value with my old house and sold it for about $40K less than I could have as I wanted a quick sale and needed to break all ties with my ex, I don't live a life of regret but I need to weigh up wheat is the best option for me at this point of time.
by Psyber » Wed Jun 22, 2016 2:30 pm
by gossipgirl » Wed Jun 22, 2016 2:42 pm
by Lightning McQueen » Wed Jun 22, 2016 2:44 pm
Corona Man wrote:Lightning McQueen wrote:Pretty much on the mark there C-Man, if I keep my mouth shut and continue my good work the opportunities for big coin could present themselves.
I too "had", a small mortgage compared to house value with my old house and sold it for about $40K less than I could have as I wanted a quick sale and needed to break all ties with my ex, I don't live a life of regret but I need to weigh up wheat is the best option for me at this point of time.
No point looking backwards... always look forwards. Next opportunity, all that stuff. As far as your kids go, sounds like there is some sporting talent there. Talent wins every time. In some ways a "tough" child-hood, not having every thing handed to them will make them better in the long run as well. Had a kid I coached in cricket, good player (bowler), money for his family was tight. Kid made the state under 15's, went to the nationals. Couldn't afford a decent bat. Didn't want to look like a "dick" if he got a hit. We (grass roots club) made sure the kid had a decent bat to go away with. Not suggesting that's the case for you... but people recognise talent, and want to see it flourish.
Don't sweat the small stuff.
by Lightning McQueen » Wed Jun 22, 2016 2:45 pm
Psyber wrote:I've done quite nicely out of buying a house, living in it for a while, then selling and upgrading.
Sure the agents take a chop, but you can negotiate that percentage, and you just need to get the timing right.
(Sell at market peak and buy when it settles back, or once you have enough capital buy the new one and wait to sell the old one until the next peak.)
First house bought when I was 25, in 1969 cost $10800, and sold in late 1971 for $14950.
Second in 1971 $16900 to buy land and build, sold in 1976 for $45000.
Most recent example - house in Olinda, Victoria, cost $635000 in late 2003, well under the advertised price ($690K+), and sold in late 2008 for $800000.
In 2009 I bought present house in the Stirling region for $535000 - $10K under council valuation - no plan to sell at this stage.
So, I'd say take the long-term view and buy not rent.
I wish now I'd spent less on sports cars and more on extra property...
(Though it was fun!)
by Booney » Wed Jun 22, 2016 2:49 pm
Lightning McQueen wrote:I don't want fancy things mate, just a roof over our heads and a happy place to call home.
by RooShootOhh » Wed Jun 22, 2016 2:58 pm
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