gahart111

Hi Everyone,
Firstly I would like to say that I am new to all this and apologise if I am "chewing at an old bone".

Me and the family are hoping to emigrate to the Brisbane area in about 18 months (very ish). To keep us encouraged we are looking at property out there and have noticed that it appears to be a lot cheaper to rent a place rather than buy.

Our preference would be to buy for the security but the difference is quite marked.

Is there anyone who can shed some light onto why this is and give us some advice on the best way to approach this.

Also can anyone recommend a cheap, quietish town within an hour of Brisbane with a good school for me to teach in and a hospital for my wife to work in.

Thanks for any help that anyone can offer.

Gary

dotty

Rentals in OZ are plentiful, due to generous tax deductions for landlords (negative gearing).

Rents are not really that cheap in comparisom to OZ wages, but it probably looks very cheap if you are ignoring what you would earn in OZ and using your UK income instead?

dotty

Teaching, do a search on top of the page, you will see rural service applies to teaching jobs in QLD unless you can fluke a Private school. Supply teaching might be the go?

If you could get nursing and teaching jobs in Qld you should easily be earning $80,000 plus between you both. Getting a mortage would be very easy.

bondipom

Sydney rents are cheap in comparison to earnings. The other advantage of renting is no strata fees (for units) or locals rates. There is also a glut of rental properties due to the tax deductions Dotty mentioned.

Long term buying is the better option but in the mean time bide your time and hunt for your ideal home whilst making use of a landlord that is using the loss he makes on the property to reduce his tax bill.

gahart111

Thanks a heap for the advice Dotty, we were just a little concerned as we were looking in the Caboolture area and found 4 bedroom houses for about $250 a week but a mortgage would be about $1500 a month, according to the calculator.

BTW any idea of the best websites for property. The ionly one we look at regularly at the moment is www.realestate.com.au .

Thanks again
Gary

dotty

I am not familiar with agents in the Caboolture area. However this mob have agencies everywhere www.raywhite.com

Caboolture by the way is a bit of a mixed bag area (not the most upmarket of places to live), no doubt some searches on that will be helpful too.

gahart111

Cheers Bondipom that does explain a little and confirms what we were thinking to maybe rent for a while until we can find a good place to settle.
With much jealousy at your location,
Gary

gahart111

Thanks again. We were looking there as they have a hospital.
But this demonstrates exactly why these forums are so important and useful. I will have second thoughts about Caboolture now. Thanks. Any recommendations near there???

bondipom

Right now I am at work in Auburn which is as glamourous as being in Wembley. Great when I get home though.

ABCDiamond

Gary
Adding to the other points mentioned, Rentals have stayed pretty consistent for the last year or so, even though property prices have gone through the roof. Many investors are talking about when to increase rents, to get back to the "correct" rate of return on investment. I dont think that will happen very soon, except maybe in areas that will continue to see property prices grow. We bought an Investment in May 2003 and were told rent could be $210pw, but we got $240pw for it. When it comes up for renewal, we may be looking at $260pw according to some that we speak to. Its still not a good "cash" return, but the "conservative" capital gain of $500pw, appears to compsenate for it.

I believe that buying is best. BUT, I also believe that you should rent first while looking for the RIGHT house to buy.

Regarding your last point. I live in a quietish town, about 1 hour to the CBD, 10 minutes to the Redland Hospital, and 10 minutes to a very good Private School (they pay better than state schools ) 3 bed houses at about $260,000-$300,000, or rentals about $240pw. But you need to LOOK at rentals before committing yourself from afar. My tenants told me there are some pretty crap places out there.

dotty

Before you have second thoughts, Search for caboolture on the forum, many mixed and varied opinions from memory.

Chermside on the outer North of Brisbane has really cheap housing, big hospital, 15 mins to the city in non rush hour and only an hour to the Sunshine Coast. Cant say the area ever struck me as rough or anything, right handy for everything tho. Didnt live there myself but friends do.

gahart111

Thank for the info it's very helpful I may give your town a llok in it sounds gorgeous. And whilst money is definitely not the most important thing in life (yeah, right) private is good

gahart111

Cheers Dotty, will give it a try!