NedKelly

It wouldn't matter if they had his money!

isgraham

I disagree if you are on 150K as a family in Sydney you are still going to be living in a 2 possible 3 bedroom unit on the north shore close to the CBD so I wouldn't describe that as being particularly well off.

Kooky.

Just out of curiosity I've had a look at what's for sale in my suburb, which is indeed Sydney North Shore, close to the CBD. I could buy studio apartment for $300k or a 2-bedder with views for $4m. Decisions, decisions!

On a gross salary of $150k, I could get a mortgage for $600k, which might get me an ok 2-bedder in a block without a harbour view.

However on a gross salary of $150k, bringing home roughly $7.3k a month, how I would make the repayments of nearly $5k is something the property site conveniently omits to tell me.

edit: No sympathy required - life is about choices; I just thought it might be good to put down some numbers rather than simply keep saying "it's expensive".

Amazulu

Some perspective. I'm not boasting but I earn substantially more than $150k and have no debts (including mortgage) but I don't think I am rich. I'm comfortable, maybe even very comfortable, but not rich. I have to work, so therefore I'm not rich. My boss, Andrew Forrest, is rich! I pay shitloads of tax. In fact, If I did not salary sacrifice into super, did not have investment property etc, I would be paying $80k+ in tax. I pay enough tax and don't see a reason why I should not get certain benefits in return. The government is not going to save any money with these welfare changes so the only reason to do it must be pure spite. They are a socialist governement and this is what socialists do.

With this budget, I'm actually about $50/week better off but I still think KRudd/Gillard/Swan are pricks and Australia is going to end up regretting electing them into power.

MartinLuther

Have you got that net calculation right? $150k should be about $8300 take home.

Sandra

I agree - if the calculation is $150K gross including super paid by employer then it would be $7800K approx take home. And if you just take a straight calculation of 40% tax it would be $7500 so not sure where this figure came from.

northerner

But that's what you get for living in one of the most expensive areas of the biggest and most expensive city in Australia. If you want a bigger place you have to move further away from the CBD/water - it's not rocket science and it's no different in Sydney to any other city/town/village in the world.

Not true. We recently bought a 4 bed + rumpus, 2 bath, double garage + pool within an hour commute on public transport to the CBD for less than $500k.

Most people seem to come to Sydney and expect to have that same house on the harbour for the same money - and are suprised when they realise it's not possible. Then move into a unit and moan that it's too small, or moan about having to move further away from the centre.

Anyway - as for the original question, having $150k household income is in no way 'rich'.

Graham

Kooky.

Ok thanks, let me recheck that - it's from some rough calcs we did when negotiating. My point still stands though; what somebody would lend us is scary.

Northerner - I did say in my edit, which I made straight after I'd posted, that it was a choice we'd made. Just wanted to use some realistic numbers to get some context.

MartinLuther

I was thinking super on top. The super money is not treated as income for things like the loss of baby bonus and the medicare levy.

IvanM

Where and when? I am in the market now for one now and not seen one?

northerner

We are in Winston Hills - moved in February. Public transport is not the best in the Hills area but if you're near the M2 bus stops the buses take 30 mins to get to Wynyard.

I currently ride a motorbike and it takes me 30-35 mins door to door (I work in St Leonards) avoiding all tolls.

Yes we miss the 'buzz' of Balmain (where we rented before buying) but we need space - the Hills area is good for us and doesn't stop us doing all the things we love in and around Sydney.

Cheers and good luck!

Graham

northerner

Hi seasider - wasn't meant to be a dig at you, soz if it came across that way

IvanM

You had wondering if there was a magical mystical suburb in Sydney I had missed.

I said an area with facilities and public transport to the city in under an hour. The Hills does not meet those criteria. 30 mins to Wynyard at what time of day? Most people travelling to the city take over an hour and a quarter. Even those going to North Ryde used to winge frequently about it taking over an hour. The M2 is a car park in peak hour. Buses are stuck in the same carpark until the harbour bridge.

Hillsbus is also utterly shite, infrequent and useless outside of the peak.

geordie downunder

Sorry to be pedantic but they did not state that at all.

The 150K was a means tested cut off point for a welfare payment.

northerner

In morning rush hour.

There is a bus only lane down most of the M2 so the fact that it's a car park for people in their 4WD's is not an issue. You said you wanted public transport to work. The buses to the CBD run every 4-5 minutes in rush hour.

Yes I think you'll find it does, but maybe you're upset about not having your waterfront home within a stone's throw of the CBD for loose change?

I agree (and indeed said straight off) that public transport from the hills needs improving - but you sound like you want the world and want to pay nothing for it and make no compromises. You have to draw the line somwhere - if I could pick my house up and move it to Balmain then I would - however I would then expect to pay $2.5M+ for the same thing.

In the nicest possible way, I think you need to stop living in a dream world. If you want to live in central Sydney then you have to pay for it. As I said before - it's not rocket science.

Cheers,

Graham