to rent or to buy?
Aug 16th 2009, 11:34 pm
#1
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Thread Starter
Joined: Apr 2009
Location: Melbourne UK to Helensville Nz to Secret Harbour Perth WA
Posts: 94
to rent or to buy?
we move to Perth at the weekend( omg)
the plan.... was to rent for about 6 months then buy.
now i'm thinking should we buy straightaway? we are on a 475( if that makes any difference) its v easy to get a mortgage where we at the mo is it the same in Australia? thanks
the plan.... was to rent for about 6 months then buy.
now i'm thinking should we buy straightaway? we are on a 475( if that makes any difference) its v easy to get a mortgage where we at the mo is it the same in Australia? thanks
Aug 17th 2009, 1:24 am
#2
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Location: Melbourne, Victoria
Posts: 524
Re: to rent or to buy?
Are you familiar with Perth?
Aug 17th 2009, 1:26 am
#3
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Location: Melbourne UK to Helensville Nz to Secret Harbour Perth WA
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Re: to rent or to buy?
no not at all!
Aug 17th 2009, 1:43 am
#4
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Joined: Feb 2007
Posts: 204
Re: to rent or to buy?
defo rent before you buy.........lots of subs in perth for you to look at.
Aug 17th 2009, 2:59 am
#5
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Joined: Aug 2009
Location: Perth, WA
Posts: 6
Re: to rent or to buy?
I would definately look to rent before you buy. It is very easy to buy in a suburb just because you "start" there. Have a look around first... maybe Hills, maybe by the coast... there are heaps of nice suburbs and also some to avoid.
Not to put a downer on it either but I would consider the fact that you are on a 475 Visa too. That could go pear-shaped and you are stuck with a house!
I have been here 20 years after moving from the UK and learnt from my mistakes!!
Not to put a downer on it either but I would consider the fact that you are on a 475 Visa too. That could go pear-shaped and you are stuck with a house!
I have been here 20 years after moving from the UK and learnt from my mistakes!!
Aug 17th 2009, 4:39 am
#6
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Joined: Nov 2007
Posts: 35
Re: to rent or to buy?
Stamp duty is a real killer here compared to the UK, so if you rush in and buy and then a year down the track you want to sell it's going to cost you $$. Mortgage rates are going to go really high and it may well be wise to rent and wait for the interest rate increases to really kick in to the market- I don't know about the Perth market though.
Aug 17th 2009, 3:02 pm
#8
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Joined: Apr 2008
Posts: 591
Re: to rent or to buy?
Can't fault the general consensus here: i.e. don't buy now!
You need to acclimatise with Perth and its surroundings...The best way to do this is the only way: Renting!
When we came over last summer (Oz summer) on a 457, we were tempted to buy too...
On the advice of few good souls on this forum , we held back from doing this.
Now, we are glad we haven't...Even though we may miss out on the Govt grant, buying would be a risk.
Just take your time and suss out which areas you like the most first...Once you buy somewhere, you're lumbered with that place for a while...
