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A silly question for buying a house

A silly question for buying a house

Old Oct 24th 2012, 7:54 pm
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Default A silly question for buying a house

Hi,
asking a silly yet an important question for me.. before that giving a little intro of me, I am an US citizen and coming to Australia for a project management job of 4 years contract. My spouse is an Australian, (but she also came to US at 4) , so I also have a PR visa.
My intention is if I like this country, weather, neighborhood then I will give a thought for settling her permanently, otherwise I will go back to US. Now here comes the silly part..if I buy a house in Perth worth 450k and after 4 years ( when I realize that this is not the best place for me to settle and decide to leave) still 200k of the loan is remaining to pay then what will be the options for me to avoid any complexities?

Alex
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Old Oct 24th 2012, 8:29 pm
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Default Re: A silly question for buying a house

Im not quite sure what you are asking ? If you decide to leave and owe 200k on the house you would have to sell the house and repay what is owed. Im not sure what complexities you are referring to ?
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Old Oct 24th 2012, 8:43 pm
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Default Re: A silly question for buying a house

thanks chris for your reply, actually by complexities i mean that do i need to stay until the property is sold and repay the debt or i can leave Australia and repay the debt when the property is sold.
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Old Oct 24th 2012, 8:48 pm
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Default Re: A silly question for buying a house

Ah right, Im with you. Yes it is possible for you to leave and let an agent handle the house sale for you. No point sitting around waiting for a house to sell when you could be at home.
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Old Oct 24th 2012, 8:58 pm
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Default Re: A silly question for buying a house

Yes but alex you will still have to keep up your mortgage repayments until the house is sold, if that what you are getting at.
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Old Oct 24th 2012, 9:10 pm
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Default Re: A silly question for buying a house

that's a relief...just heard so many things about mortgage repayments in Australia...
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Old Oct 24th 2012, 9:38 pm
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Default Re: A silly question for buying a house

The best way to avoid any "complexities" would be to not by a house until you are fairly sure you do want to settle here for good or at least for a prolonged period.
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Old Oct 25th 2012, 12:11 am
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Default Re: A silly question for buying a house

Also, not sure you'll be getting much of a house for 450K
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Old Oct 25th 2012, 1:08 am
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Default Re: A silly question for buying a house

Originally Posted by James516 View Post
Also, not sure you'll be getting much of a house for 450K
Surely that would depend on the area he wanted to buy in. I don't believe there aren't a fair few decent houses for sub 450 in and around Perth.
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Old Oct 26th 2012, 2:15 pm
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Default Re: A silly question for buying a house

Originally Posted by James516 View Post
Also, not sure you'll be getting much of a house for 450K
just searched real estate for butler, mindarie, joondalup, mandurah and baldivis, min 3 beds,max $450K came back with over 2000 properties
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Old Oct 26th 2012, 7:12 pm
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Default Re: A silly question for buying a house

Originally Posted by Lois1 View Post
just searched real estate for butler, mindarie, joondalup, mandurah and baldivis, min 3 beds,max $450K came back with over 2000 properties
I'd rather chew my own nipples off than live in any of those places...
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Old Oct 26th 2012, 7:14 pm
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Default Re: A silly question for buying a house

Originally Posted by WestLondonWelshman View Post
I'd rather chew my own nipples off than live in any of those places...
What areas would you recommend?
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Old Oct 26th 2012, 7:54 pm
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Default Re: A silly question for buying a house

I wouldn't recommend Perth period. Its a a cultural desert surrounded by desert and populated by some of the biggest ar*eholes you're ever likely to meet.

Moved here for a better life comes the eternal cry. Better life perhaps if you're are a semi-literate, uncultured bogan that enjoys living in cardboard housing! For me hell on earth!
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Old Oct 26th 2012, 8:06 pm
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Default Re: A silly question for buying a house

Originally Posted by WestLondonWelshman View Post
I wouldn't recommend Perth period. Its a a cultural desert surrounded by desert and populated by some of the biggest ar*eholes you're ever likely to meet.

Moved here for a better life comes the eternal cry. Better life perhaps if you're are a semi-literate, uncultured bogan that enjoys living in cardboard housing! For me hell on earth!
Okay so in Perth is not an area for you. Having made your point succinctly you wont have a need to revisit this thread
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Old Oct 26th 2012, 8:14 pm
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Default Re: A silly question for buying a house

Originally Posted by old.sparkles View Post
Okay so in Perth is not an area for you. Having made your point succinctly you wont have a need to revisit this thread
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