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Is Rent "Dead Money"?

Is Rent "Dead Money"?

Old Apr 10th 2013, 2:55 pm
  #31  
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Default Re: Is Rent "Dead Money"?

Originally Posted by mikelincs View Post
There are housing associations and the local councils still have some places. There is housing benefit and council tax benefit for those with less than a certain income. If you are able to get a housing association place, and get full housing benefit, then you could get all your rent provided, but this is only available for those on basic pension.
Thanks folks for a very interesting chat on a subject that worries me.

Commonwealth- I (currently UK) have never rented, but by the time I pay for my CPV I defo won't be able to buy in Sydney which is where I'm going to join my daughter. My initial response to you would have been "buy-always", but I realise the Aus market is nowhere near like ours so I'd be wrong,especially if it means no disposable income for fun!

Renting is the one aspect of moving over that I dread & have been constantly worried about- as a single parent of 1, I need a 2 bed place & I know I won't be able to afford it! So it's a bit of a relief to hear that it might be possible to rent from a H/A or even the council- I had only focussed on private rentals & I know that my daughter pays a lot even in a shared rental. Does this mean there's hope that I could get a better-priced rental then? I know I will probably be entitled to rent assist but accommodation would be a bonus, (or is council accommodation likely to be in not-so-desirable places? Can't say I spotted any obvious council estates around the Eastern subs...then again I didn't know of them! Obviously I'm worried & want to take my son to live in a nice area any insight would be valuable!
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Old Apr 10th 2013, 3:13 pm
  #32  
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Default Re: Is Rent "Dead Money"?

council homes? oh god no no no way!
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Old Apr 10th 2013, 3:15 pm
  #33  
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Default Re: Is Rent "Dead Money"?

Originally Posted by Peepster View Post
Nah, I don't reckon it's worth it. Wait till you've found your Mr Right and then buy something together. If you won't be able to afford to go out as much then you're reducing your chances of meeting that Mr Right. Invest in yourself and being fabulous.
it's okay maybe if it's 2 people sharing the debt burden but when i do it myself what happens when i lose my job or get sick or imprisoned or oversexed?
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Old Apr 10th 2013, 3:17 pm
  #34  
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Default Re: Is Rent "Dead Money"?

Originally Posted by commonwealth View Post
council homes? oh god no no no way!
oh- that bad?
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Old Apr 10th 2013, 3:37 pm
  #35  
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Default Re: Is Rent "Dead Money"?

do you want to live with suspicious characters?
i've heard the councils are deliberately falling behind maintenance to discourage people from living in council homes.
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Old Apr 10th 2013, 10:33 pm
  #36  
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Default Re: Is Rent "Dead Money"?

And there is an incredibly long waiting list to get into one. You really don't want to go there......(sorry to be alarmist/defeatist)
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Old Apr 10th 2013, 11:42 pm
  #37  
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Default Re: Is Rent "Dead Money"?

Originally Posted by campervanfan View Post
Thanks folks for a very interesting chat on a subject that worries me.

Commonwealth- I (currently UK) have never rented, but by the time I pay for my CPV I defo won't be able to buy in Sydney which is where I'm going to join my daughter. My initial response to you would have been "buy-always", but I realise the Aus market is nowhere near like ours so I'd be wrong,especially if it means no disposable income for fun!

Renting is the one aspect of moving over that I dread & have been constantly worried about- as a single parent of 1, I need a 2 bed place & I know I won't be able to afford it! So it's a bit of a relief to hear that it might be possible to rent from a H/A or even the council- I had only focussed on private rentals & I know that my daughter pays a lot even in a shared rental. Does this mean there's hope that I could get a better-priced rental then? I know I will probably be entitled to rent assist but accommodation would be a bonus, (or is council accommodation likely to be in not-so-desirable places? Can't say I spotted any obvious council estates around the Eastern subs...then again I didn't know of them! Obviously I'm worried & want to take my son to live in a nice area any insight would be valuable!
Apologies if I got the wrong end of the stick, but if I understand you correctly you are migrating to Oz and in turn are considering sponsored accommodation in a nice area? Do you work? Do you really think that's fair?
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Old Apr 10th 2013, 11:59 pm
  #38  
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Default Re: Is Rent "Dead Money"?

Apology accepted
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Old Apr 11th 2013, 12:27 am
  #39  
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Default Re: Is Rent "Dead Money"?

Originally Posted by commonwealth View Post
council homes? oh god no no no way!
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Old Apr 11th 2013, 1:15 am
  #40  
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Default Re: Is Rent "Dead Money"?

Originally Posted by campervanfan View Post
Apology accepted
So I got the wrong end of the stick then? Lets hope I did.
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Old Apr 11th 2013, 1:20 am
  #41  
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Default Re: Is Rent "Dead Money"?

I'm in my mid-30s and never owned a home. Partly because I've never been able to afford to buy anywhere I've wanted to live (i.e. inner-city) and wasn't prepared to go out into the 'burbs just to own a property; partly because I like the flexibility of renting and moving around; and partly because I'm financially pretty flakey.

The intrinsic concept of actually 'owning' a home (or having it on loan from the bank at least) has never particularly appealed or mattered to me, and I have enjoyed the hassle free life of renting. Something broke? Call the landlord and get it fixed. Easy. Perhaps I have been lucky with my landlords in this respect.

Up until the last few years, the only ones of my peers who bought somewhere could only do so with parental/family assistance (although this is mostly in Sydney and London and is probably somewhat skewed due to prices there)

Will probably look to do so myself in the next few years, as am getting to the point where I don't go out every night, and am happy to have a slower pace of life, settle and start a family. The aussies seem convinced that you can't start a family without owning, but for me it really wouldn't bother me to raise kids while renting.
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Old Apr 11th 2013, 2:09 am
  #42  
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Default Re: Is Rent "Dead Money"?

Originally Posted by commonwealth View Post
yeah, but i'd be unable to travel or eat out much or go shopping much. single-person mortgage is a long-term (potentially high risk) sacrifice.

is it worth it?

is life a journey or a destination?
Eeeeek, I didn't realize things would be that tight. The reasons you've given are some ( amongst others , like two , expensive girls to support, and the fact we prefer the more expensive suburb lol) are the reasons we are in a rental. However, it's not a thing to look forward to in old age.....moving from rental to rental! And who's gonna rent to an OAP
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Old Apr 11th 2013, 2:11 am
  #43  
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Default Re: Is Rent "Dead Money"?

Originally Posted by commonwealth View Post
it's okay maybe if it's 2 people sharing the debt burden but when i do it myself what happens when i lose my job or get sick or imprisoned or oversexed?
Income insurance? I have looked into this, it's expensive but I reckon you would need it if you have a mortgage
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Old Apr 11th 2013, 2:21 am
  #44  
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Default Re: Is Rent "Dead Money"?

Originally Posted by Margaret3 View Post
Income insurance? I have looked into this, it's expensive but I reckon you would need it if you have a mortgage
Income insurance is one of the biggest mortgage add on cons out there, read the small print before taking one of these plans out.

We got suckered in to a mortgage 'protection plan' with our mortgage provider in the UK and regretted it.
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Old Apr 11th 2013, 2:25 am
  #45  
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Default Re: Is Rent "Dead Money"?

Originally Posted by Jon77 View Post
Income insurance is one of the biggest mortgage add on cons out there, read the small print before taking one of these plans out.

We got suckered in to a mortgage 'protection plan' with our mortgage provider in the UK and regretted it.
From the other side of the coin, a relative of mine took out income insurance and when he got laid off last year it was very useful.
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