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Pomms/Aussies Obsessed By Property

Pomms/Aussies Obsessed By Property

Old Aug 9th 2007, 6:00 am
  #46  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by Sue from Manchester View Post
All I can say is I hated, hated, hated renting. I hated being beholden to an agent who could come round at hardly any notice, sometimes no notice, who you could never contact by phone, who fought you on every thing that needed doing. Who you had to crawl on bended knee to to get the place in the first place and then was picky as anything when we left it in a much cleaner condition than when we arrived. If you're renting you've got hardly any security. They can turn round at any time and say the owner has decided to sell, you've got one month to get out.
Agreed, I justified it at the time but moving out of rented accommodation was a HUGE weight off my shoulders, my landlord was a nightmare.
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Old Aug 9th 2007, 6:30 am
  #47  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by renth View Post
Agreed, I justified it at the time but moving out of rented accommodation was a HUGE weight off my shoulders, my landlord was a nightmare.
good it gets better - renting & the house search are the 2 things that are stopping us fully enjoying our life in Oz
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Old Aug 9th 2007, 7:44 am
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by Kate45 View Post
I have a nice house with a small garden and a pool ....I also have a 13 year old son who so needs a large garden that when we move next year it is top of his request list ...new house with big garden!!!
Originally Posted by TrickyTree View Post
I'm with the Eagle on that one I had a huge house on a medium sized block with hardly any garden.
Even that small bit of gardening eventually gave me the shits so we now live in a unit (with zero garden) in the city.

We also have a couple of investment properties which we wouldnt swap for the world (at the moment). It seems the perfect way for your moeny to be invested with the current growth.
Give me house with big garden over no garden even in crispy Aus where you need a pick and sledge hammer to garden.
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Old Aug 9th 2007, 7:47 am
  #49  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by annqldau View Post
Give me house with big garden over no garden even in crispy Aus where you need a pick and sledge hammer to garden.

Yep, me too. Done the living in a house with a shoe box garden and I hated it. Much prefer to sit in a garden where you can't hear next door fart, there's some greenery and you can sit in a morning with a coffee watching all the birds in your garden
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Old Aug 9th 2007, 7:50 am
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by Wendy View Post
Yep, me too. Done the living in a house with a shoe box garden and I hated it. Much prefer to sit in a garden where you can't hear next door fart, there's some greenery and you can sit in a morning with a coffee watching all the birds in your garden
it's cheap chilling and ideal on an Aussie morning at 6am when it's as hot as an English summer day.
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Old Aug 9th 2007, 12:34 pm
  #51  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by The S's View Post


Not really.

realistically my mortgage payments will become more affordable whilst your rent will go up year after year. When I retired i will have paid off my mortgage (hopefully) while you still have to fork out for your rent.
Also I have no intension of leaving my house to my kids, I will down size and buy a big F off boat.
They can buy their own property, I had to.
i. To me, this is the single simple reason to own your own home. Cashflow. Yes, it is hard to start with in today's climate but I reckon you just need to get through the first 10 years as Ozzie says. The reason why today's 40 year old Brit migrants are doing so well is because they are prime earners and have tiny mortgages. It's also why some get so disappointed here.

ii. It will also provide a paid-off roof over your head, lump sum or pension when you retire or downsize. Providing you don't tear the arse out of it, it will also allow you to borrow in all essence small amounts to get out of lifes conumdrums. If you have several hundred thousand of equity then 2-3k on a second hand car or 1k to install something is small change, and as incomes grow, it is infact neglible. To a point, some degree of debt is OK - ultimately, you want to get to retirement age with income generating assets outstripping liabilities- if you do manage to get there. If you die along the way, you won't care providing your lack of insurance doesn't stuff someone else.

iii. Property always appreciates over the long run. People get rich by using the banks money, not their own, to buy a portfolio which gets them leverage. All you have to do is being able to service the debt which gets smaller and smaller every year. If this is OK, or safeguarded, then its a no brainer.

iv.Land appreciates, houses depreciate. Buy the oldest house in the best area, or the smallest house inthe best street. By definiton, those big houses on small blocks are a bad idea.

cheers
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Old Aug 9th 2007, 12:41 pm
  #52  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by Sue from Manchester View Post
All I can say is I hated, hated, hated renting. I hated being beholden to an agent who could come round at hardly any notice, sometimes no notice, who you could never contact by phone, who fought you on every thing that needed doing. Who you had to crawl on bended knee to to get the place in the first place and then was picky as anything when we left it in a much cleaner condition than when we arrived. If you're renting you've got hardly any security. They can turn round at any time and say the owner has decided to sell, you've got one month to get out.
On the subject of home, and how ''big'' the block is, people talk about home being important not the house - but, a house full of memories and work will help create that home. Where we are people have big blocks and there's no doubt it helps create that home. Not a materialistic one, a sort of rewarding hard work one. For this reason, my relatively ''high'' maintenance block is not a liability for me.

I could see it being hard to rent on acrage for that reason. You need to own the experience and have full control.
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Old Aug 9th 2007, 12:49 pm
  #53  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by jad n rich View Post
Think the headlines and news last 2 days confirm aussies are indeed obsessed with property, perhaps to a dangerous level, if a .25% interest rate creates the sort of panic they carry on with.

Of course tho, if we vote for KEVIN 07 WTF!! who made that media campaign we wont get any more rate rises.
Think the media are just talking it up - one copy said that thousands would go under, (were they expecting me to wail?) and in the same breath, they said that others would not bat an eyelid. I don't think people really know. The people who took the most risks might lose it all.

It depends on your personal finances. As I've said before, I'm always surprised at how low the average mortgage is reported to be, and reportedly how affordable homes are, based on average multiples (if based on 2 incomes!) The mind boggles!
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Old Aug 10th 2007, 7:09 am
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by jad n rich View Post
Think the headlines and news last 2 days confirm aussies are indeed obsessed with property, perhaps to a dangerous level, if a .25% interest rate creates the sort of panic they carry on with.

Of course tho, if we vote for KEVIN 07 WTF!! who made that media campaign we wont get any more rate rises.
Do you not think it's like UK where Blair was past his sell by and Bush in US that's it's time for a change.

Now the American obsession with property without the ability to pay is going to sting us all as well.
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Old Aug 10th 2007, 7:39 am
  #55  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by BadgeIsBack View Post
Think the media are just talking it up - one copy said that thousands would go under, (were they expecting me to wail?) and in the same breath, they said that others would not bat an eyelid. I don't think people really know. The people who took the most risks might lose it all.

It depends on your personal finances. As I've said before, I'm always surprised at how low the average mortgage is reported to be, and reportedly how affordable homes are, based on average multiples (if based on 2 incomes!) The mind boggles!
As we are now a borrowing society rather than a saving one, interest rate rises hurt and as people now borrow huge sums (often through necessity) even small rate rises hurt. On the other hand, if you have money in the bank and a small or no mortgage with loads of equity then rate rises are great. You get more interest on your money and if rates rise so high that they cause a recession then even better. Things become cheaper for you and you get to buy up other peoples property at lower prices.
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Old Aug 10th 2007, 9:25 am
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by Amazulu View Post
. Things become cheaper for you and you get to buy up other peoples property at lower prices.
God I wont half feel like a vulture, next year, goes right against my principals, but I'll admit to have been waiting for this.
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Old Aug 11th 2007, 9:59 pm
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by Amazulu View Post
As we are now a borrowing society rather than a saving one, interest rate rises hurt and as people now borrow huge sums (often through necessity) even small rate rises hurt. On the other hand, if you have money in the bank and a small or no mortgage with loads of equity then rate rises are great. You get more interest on your money and if rates rise so high that they cause a recession then even better. Things become cheaper for you and you get to buy up other peoples property at lower prices.
Money in the bank what's that???
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Old Aug 12th 2007, 9:18 am
  #58  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by Bobcat View Post
I just signed all the paperwork for a 30 year mortgage today........... I'll be 89 years old by the time i pay it off?

I don't expect to live that long.
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Old Aug 12th 2007, 5:19 pm
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by Amanda Jayne View Post
I don't expect to live that long.
Think they think you will have downsized before then as Aussies love to downsize to a cute little unit.
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Old Aug 12th 2007, 6:10 pm
  #60  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by Amanda Jayne View Post
I don't expect to live that long.


I'm hoping I will .........as long as I don't come across any more idiots driving down Wanneroo Road?
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