Is Rent "Dead Money"?
Apr 12th 2013, 11:11 am
#76
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Re: Is Rent "Dead Money"?
Empathy .... well ... my inlaws who are nearing retirement would certainly love to come and live near Mrs Beoz for a while but simply cannot afford it. They can't even afford a visit. Never in their wildest dreams would they consider using taxpayers money to fulfill their "want".
Apr 12th 2013, 12:26 pm
#79
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Apr 12th 2013, 3:17 pm
#81
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Re: Is Rent "Dead Money"?
Anyone seen the documentary: "End of the road"?
Apr 12th 2013, 9:36 pm
#82
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Re: Is Rent "Dead Money"?
That is a LOT of money for a tiny little apartment. Why would anyone even consider it?. Just confirms to me that my decision to move back to London was a good one.
Apr 12th 2013, 10:08 pm
#83
Daffyd Duck
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Re: Is Rent "Dead Money"?
ummm yeah its a lot i think. the great australian ponzi scheme is still doing money-go-round.
Apr 12th 2013, 10:19 pm
#85
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Apr 12th 2013, 10:22 pm
#86
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Re: Is Rent "Dead Money"?
Price $450,000
Grant -$15,000
Net $435,000
Int/Rnt 6.00% 3.50%
Per Year 26,100 15,750
Per Week 502 303
Compare it on the basis of interest only for mortagage, to what ever market rate is for rent.
Dont take my figures exactly just trying to give a structured comparison for you.
Firstly it looks the wrong thing to do because of the $200 per week short fall. But on a modest capital gain of 3% the gain equates to $259 per week.
So you are $59 per week better off doing nothing more than living on interest only compared to rental.
Its a plus in terms of a long term savings plan, and provides a somewhat emotional stake in the sand.
Apr 12th 2013, 10:50 pm
#88
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Re: Is Rent "Dead Money"?
omg
Apr 12th 2013, 11:04 pm
#89
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Apr 12th 2013, 11:42 pm
#90
Daffyd Duck
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Re: Is Rent "Dead Money"?
yeah this new apartment (with an enclosed bed area unlike most studios) is in inner city with a nice neighbourhood cafes and well presented residents and close to station. rents are around $350pw for a studio.