owning a house
 

hi all :thumbsup:

just wondering how many BE forum members have went to oz and discovered they will never be able to afford to own a house again either in oz (or uk if you went back)?
do you mind if you own your own home or not?
the reason im asking is im wondering if renting a viable option long term?

cheers

Re: owning a house
 

I think renting is definitely a viable option long term, if not, forever.

The cost of renting in Australia is quite low comparatively and you get the benefits of not having to fork out for maintenance etc...and being able to move whenever you get bored or whatever!!

I am 36, have never owned and prolly never will - doesn't bother me one iota :)

Re: owning a house
 

Hey,
i have found that most Australians rent here, well in QLD anyway,. Its quite unusual to meet an Ozzie who owns their own home. Most English people i know here usually jump straight in and buy their own home.
Angela

Re: owning a house
 

Overall, about 69% of Australians own their homes as opposed to renting.

Having said that, generous tax treatment of rental houses has contributed, along with incoming cashed-up migrants, to the shortage and overpricing of homes, which are now in the top few in the world's "unaffordable" list.

Re: owning a house
 

Husband works with a chap who lives in his own home that was built by his father. He bought the land and built two adjoining houses for both sons. However he himself has never owned a home and has always lived in rented and has no intention of doing so. Sounds odd but he was able to give a decent inheritance to his sons whilst still alive and is as happy as a pig in poo.

Re: owning a house
 

If people were smart no body would be owning their own home





























However their family trusts........:sneaky:

Re: owning a house
 

There are advantages to renting but the problem comes with not being able to change anything and even if you could why spend your money on a place when the landlord can kick you out at anytime!

I guess we've never found the perfect rental so we've got fed up with it after 3 years and we are building a house.

When we first arrived we could with our equity have bought a reasonable house but as things have changed we've now having to taken on a much bigger mortgage. If we still had our UK place then maybe we might have hung on but we didn't want to be out of the property market too long as then it's hard to get back in - in either country.

A lot of people here buy a property to rent out that returns a good investment and then they'll rent what they want to live in - so best of both worlds I guess. The thing is you can live in a much nicer place than you can afford to buy.

I guess it's finding the right rental, maybe one where you can stay long term and alter things with the landlords agreement - as it's that what gets to most people in the end.

Re: owning a house
 

Very true!

I guess we have been lucky in that one of our rentals back in Oz was not quite up to our standard. The Landlord was happy for us to make improvements to it - even stumping up some cash to do so!

Unfortunately, things turned sour for him and we ended up having to move out as he needed to sell the house.

Still, I believe that it is possible to find long term rentals owned by people happy for you to make improvements/ alterations!

Wirelessly posted (NokiaN73-1/4.0750.31.2.1 Series60/3.0 Profile/MIDP-2.0 Configuration/CLDC-1.1)

Planning to land in Oz around July on permanent visa.
My doubt is why some refrain from buying own house & just stick to rent.? I mean why they cant route their rent payments to fund long term loan which would finance a house.?

Re: owning a house
 

I think renting would suit us better, less stress, plus well cheaper, also unless you have a very big deposit, the re-payments would be very high. I dont think its worth going to the other side of the world to be stressed to death over money!

Make life simple.:thumbup:

Bluekipper

Wirelessly posted (NokiaN73-1/4.0750.31.2.1 Series60/3.0 Profile/MIDP-2.0 Configuration/CLDC-1.1)

Is this "unaffordability" motto is applicable to entire country? I mean isn't there any migrant couple, found a little nice house (which they own) in suburbs & just want to commute less than an hour to reach city to work?

Re: owning a house
 

Some people do not want to buy, they may prefer the flexibility to move around more, and renting suits them for that. Some others will be waiting (hoping) for prices to drop, until they buy.

However, in general only about one third are renters.

At the moment, the requirement for a large deposit tends to put some people off buying.

Re: owning a house
 

There are many who do exactly that.

Re: owning a house
 

I couldn't rent long term with some other landlord prodding me around.

I like to do the prodding. :D

Wirelessly posted (NokiaN73-1/4.0750.31.2.1 Series60/3.0 Profile/MIDP-2.0 Configuration/CLDC-1.1)

Hi Alfresco!
Either way you ll feel the excitement of migrating. Dont let your stuff to a native Australian. He ll be hopping mad.
Try some poor migrant on temp visa. (ps: Unable to put right smily as I m on mobile. Just guess what suits it)