Leevan

Going over to Oz with a smaller pocket of money than I thought I woud have due to the sale of my house. 60k as to 100k . Worried if I will have enough to put down on a house. I am a 39 year old Bricky.
Still going for it though want the change in lifestyle........
Cheers.

OzzieNurse

i dont think you have anything to worry about, we dont have nearly as much to put down on a house and I am currently brickin it!

Leevan

Cheers Rachie, I needed that vote of confidence .

Thanks

DrWho

The Oz attitude to renting seems completely different to ours... On one side of us we have a chippie and his missus who've been renting the same house for 7 years, and on the other a semi-retired business couple who've been renting the same house for 5 years... Both couples have in the past owned their own homes and when I asked about buying again they both showed to interest at all... The business couple have a top of the range Lexus and a smaller Honda so it's not for lack of money either...

Jopad

have you got your visa and where are you going?

thebears

Nothing wrong with renting

nik04

A guy lives a couple of doors up from me, sold his place last year in sydney, he now rents using the interest from his house sale. He says it covers the rent and tax without having the cost of house maintenance and rates.

cherry6

We are selling our house and plan to rent long term when we move. No rates, no maintenance, no worries about selling.

carolwilk34

We sold our house as well and have no immediate plans to buy as the house prices in Perth are totally ridiculous just now. rent and enjoy the lifestyle and have a nice big 4 x 4 at the front door!



Carol

kez81

We too are renting and have no plans to buy yet cant really afford too,

Quite happy where we are renting a small house and the beach is at the end of our street, if we bought there is no way we could afford too in this location.


kez81

mbike

In our case, we moved to Oz to have a different lifestyle from London; more time togther as a family, big house, nice neighbours. We quickly discovered we couldn't actually afford this. So we put the UK house proceeds into a Bankwest high interest account and the interest will pay for the rent on our house. It means we can live in a big house in really nice area minutes from where I work. We could never affford to buy where we want in the current Perth Market (houses on our street are over a million). It's short-to-medium term but our quality of life is immeasurably better than being tied down to a massive mortgage in a less desirable area.

Mark

paleface

the more i think about it the more appealing it is to rent long term - especially as have been reading up on termites and the little blighters can eat yr house from under yr feet and no insurance will cover u. sure u can get treatments etc but no guarantees they wont come back and its believed up to 1 in 3 ozzie homes affected. any longtermers there who can advise if these things are a real concern or not??? if they are then i will rent forever!

AndyR

What happens though when you retire and your renting? How do you afford your house then as I thought the idea of a mortgage was to pay it of before you retire so didn't have to pay for the house?

But having to rent after you stop working seems a bit strange?

paleface

suppose you could either invest collateral you make from sale of uk hse and if its decent amt the interest would go a good way towards oz rent - whats the point of paying off a mortgage on a home that has a 1 in 3 chance of being munched by termites and then when u retire u have nothing??

Maple Leaf

renting is very common in australia. and if i may say so can be a very sensible thing to do till you at least establish exactly where you want to be.
and if you are a bricky....you will earn very good money!! and i am sure if you realy wanted to buy a home you wouldnt have any trouble adding to your little nest egg within a short period of time...good luck!