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Old 09-06-2017, 04:52 PM   #151
b0son
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Default Re: Australia housing bubble

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Mate, I told you, I entered it now
You quoted my reply to someone else, in the context of their circumstances. I wasnt commenting on yours.
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Old 09-06-2017, 05:03 PM   #152
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Default Re: Australia housing bubble

there's your recipe/s b0son..once again but you want more we know.
Funny, similar to how anyone gets to 1st base and next.
Similar recipe's, posts/pages 148, 150, at your bookstore now

fordomatic, I brought up this massive cafe/coffee culture to a friend just the other day now invading every single corner, industrial areas to where ever.
I drive by and think where do all these people put 1 so much caffiene away 2 the cake this or that near on every single day - a $20 here a $50 there, like WTF.
I like my caffiene but its at home.
I have a group of mates hounding me to turn up for early Sunday am talking crap like a hens whinge meet - I say I have far better things to do that wasting my time talking BS when I could be doing things far more practical for starters or working around the house etcetc washing the cars or doing some sport as I like doing.
WTF is it sitting around so much and then keep spending bucks that once you never would have considered, maybe its the smashed avo.
I do that at home as well.
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Old 09-06-2017, 07:14 PM   #153
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Default Re: Australia housing bubble

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Originally Posted by nuthin' fancy View Post
I'm in property finance in Geelong and the key is to focus on what you can do.

Subject to adequate income and I can get you into a 2 bedroom unit (not in an ex-housing commission area) at a purchase price of $250,000 with a $19,000 all up contribution. The $19,000 doesn't need to be savings, it can be a gift. If you can afford it, you can even put the deposit on a credit card.

Get in, spend 3 years paying the debt down as quickly as you can.

At the end of that time, if you have paid everything off except your mortgage and you have seen a 10% increase in the value of your property, you can buy another one and rent the existing one out.

You are off and running then.

For sure you won't start with a great house in the perfect street, but you'll get a start.

My first house was on a busy street next to a car yard and down wind from a stink pipe.

Focus on what you can do, not on how hard it is to get everything you want right now.
Not long ago we sold up a rental property in Sydney to buy property on the mid north coast. The property fell through and now we are stuck as to where to invest. Its a huge decision whether to invest or wait it out so that we can get what we are actually looking for. Few and far between atm though.
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Old 09-06-2017, 07:38 PM   #154
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Default Re: Australia housing bubble

Today I offered on a place I inspected last night and looks like I have got it based on the email I got. He said he would take it off the market and send the sales instructions on Monday.

I have lodged the formal offer so we have to see because he said "we'll talk tomorrow" so I'm hoping nothing has changed.

It just so happens I had an appointment with my broker today and less than a hour later there you go

So here is hoping it all goes through. I'm bolting for the try so it's just a case of getting over the line. Certainly further than I've been previously though
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Old 10-06-2017, 08:01 PM   #155
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Default Re: Australia housing bubble

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And houses were 3x income, not 10x. Swings and roundabouts. Your rates went down. We're at record low rates now, which way are they likely to head, further down??



I'm not about to tell mine that just because I did they could too. It's obvious to me its an apples and oranges comparison.
Everybody forgot the 80s/90s stock market crash with rates going up 5X overnight? Perhaps all the people complaining are too young to remember what it was like and what their parents went through. Every generation is up against it in some way. Definitely apples & oranges.
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Old 10-06-2017, 08:05 PM   #156
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Default Re: Australia housing bubble

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Everybody forgot the 80s/90s stock market crash with rates going up 5X overnight? Perhaps all the people complaining are too young to remember what it was like and what their parents went through. Every generation is up against it in some way. Definitely apples & oranges.
Easy to make these claims but the '5x overnight' is an exaggeration

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Old 10-06-2017, 08:06 PM   #157
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The End Is Nigh...
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Old 10-06-2017, 08:11 PM   #158
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Lol, what a lot of bull****!

It doesn't matter how many times you unlock the front door of your new purchase, it will never come close to holding your own child for the first time.

I rent by choice and have 4 kids, none of which i'd give up to have my name on a property title.

Life is short and no matter how much you invest, save and go without, in less than 70yrs we'll both be dead, only i'll have a family to grieve for me and you'll have a fancy coffin and a big fat bank balance you can no longer spend.
Who's missing out on the things that really matter?
Everything you say is based on assumption. You know nothing about me or my childhood. When you look at the amount of divorces, domestic violence, its a shame a few more men don't have the balls to tell their partner/wife they don't want children. My wife & I have a very full life and we are able to help others in need because we choose to. Who needs people to grieve for them? They might be glad to see the end of you or they may not. You have the challenge of raising well rounded compassionate children who will respect others and contribute to society. Good luck with all of that, and saving for your retirement because rent goes up and there will be no pension in a few years, but I suppose your saving the same amount that you pay for rent each week because that's the only model that provides a future. That's all too much work for me. I have my wife, my rescue dogs, my house and my cars and I am genuinely happy. Nothing wrong with that.
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Old 10-06-2017, 08:13 PM   #159
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Default Re: Australia housing bubble

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Everything you say is based on assumption. You know nothing about me or my childhood. When you look at the amount of divorces, domestic violence, its a shame a few more men don't have the balls to tell their partner/wife they don't want children. My wife & I have a very full life and we are able to help others in need because we chosen too. Who needs people to grieve for them? They might be glad to see the end of you or they may not. You have the challenge of raising well rounded compassionate children who will respect others and contribute to society. Good luck with all of that.
Let's just keep on topic, kids.
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Old 10-06-2017, 10:02 PM   #160
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Let's just keep on topic, kids.
I was until an angry parent lashed out
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Old 10-06-2017, 11:18 PM   #161
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Default Re: Australia housing bubble

i own a house and id love to see it worth less so other people could get there foot in the door of the housing market if my house is worth more or less doesnt mean **** unless i want to borrow against it when you turn greed into something as important as housing we really have lost a moral compass in this country such pathetic people caring so much about making money of the misery of others. You can spin the **** anyway you want weve ****ed future generations but aslong as the old hasbeens now are happy thats all the matters just ask the liberal scumbags in charge.
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Old 10-06-2017, 11:35 PM   #162
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what the people in this thread who already have it made mean to say is i did it easy and im living large of the profits other people these days might have it harder i wouldnt know as i dont have to do it but ill sure tell people how easy it is for them and id totally do it to but i got a good job and worked hard and if you did what i did you can do it to even tho i dont have to people are just lazy thats why and buy things like food and pay bills if they did less of that they could live like me to MAN ID TOTALLY OWN 55 HOUSES BY NOW IF I WAS BORN NOW COZ I WORK SO HARD AND SACRIFICE THINGS but i dont have to tho coz i already own it and used astronomical house growth special tax incentives but that had nothing to do with it you know coz i totally had a job and worked really really really hard like harder then people work now like those people who work 10000 hours a day carrying 60 tonne boulders totally harder then them but im totally great end quote.
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Old 10-06-2017, 11:41 PM   #163
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Default Re: Australia housing bubble

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I also appreciate those who like a bigger property as well, i'm just saying you buy what you can afford at the time, and you make sacrifices to be able to afford that, whatever it is.
This, people these days want to start off with a mansion with all the mod cons, new cars and European Holidays, the latest iPhone and every gadget as well as going out drinking every week end.
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Old 10-06-2017, 11:48 PM   #164
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there's your recipe/s b0son..once again but you want more we know.
Funny, similar to how anyone gets to 1st base and next.
Similar recipe's, posts/pages 148, 150, at your bookstore now

fordomatic, I brought up this massive cafe/coffee culture to a friend just the other day now invading every single corner, industrial areas to where ever.
I drive by and think where do all these people put 1 so much caffiene away 2 the cake this or that near on every single day - a $20 here a $50 there, like WTF.
I like my caffiene but its at home.
I have a group of mates hounding me to turn up for early Sunday am talking crap like a hens whinge meet - I say I have far better things to do that wasting my time talking BS when I could be doing things far more practical for starters or working around the house etcetc washing the cars or doing some sport as I like doing.
WTF is it sitting around so much and then keep spending bucks that once you never would have considered, maybe its the smashed avo.
I do that at home as well.
It's called socialising and catching up with mates, it's healthy and something people should do a lot more of.

I love going for a drive down to the beach and having a coffee with friends or family and shooting the breeze.

Seriously a $5 coffee every now and then is not going to break the bank.
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Old 11-06-2017, 02:17 AM   #165
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Default Re: Australia housing bubble

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This, people these days want to start off with a mansion with all the mod cons, new cars and European Holidays, the latest iPhone and every gadget as well as going out drinking every week end.
Totally agree. Sacrifices have to be made to get ahead. So many younger couples are not prepared to buy an older home OR buy in a place that is not ideal to get in the market. I also believe many people like myself who are in their own home will not be in a position of wealth when they sell. eg: If I paid $420k for my home in Baulkham Hills, it would now be worth $1.2m. If I am 50yo with no superannuation or investments, when I sell, I will need to buy in a area such as Katoomba, which will allow me to keep roughly $4-500k if I buy for $700k. Based on two of us living 30 years on $30,000 a year, we will need $900,000 So when you look at it that way, whether you own a property or your renting, there is no future without savings and people who think their rich because they own a house or their house has tripled in value over time are not necessarily better off. It all comes down to living within your means and a little bit of luck. That is why my weekend car is a $10k Falcon, not a $60k Falcon. I cannot justify new car prices when they are generally the fastest depreciating asset we own. Don't get me wrong, if you can afford a XR8 Sprint or a Roush Mustang, half your luck.We are all different and some have more & some have less. Now I am middle aged, I now know that inner contentment & peace is something I value over anything and having that is worth more to me than anything. There is a lot to be said for a simple uncluttered life, living to please yourself and not worrying about the Joneses. Its about what matters most to you.
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Old 11-06-2017, 07:52 AM   #166
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Default Re: Australia housing bubble

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It's called socialising and catching up with mates, it's healthy and something people should do a lot more of.

I love going for a drive down to the beach and having a coffee with friends or family and shooting the breeze.

Seriously a $5 coffee every now and then is not going to break the bank.
I agree, I'm with mates/socialising/sport participation/family other ways just not every Sunday doing the samesamesame.....
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Old 11-06-2017, 12:59 PM   #167
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Everything you say is based on assumption. You know nothing about me or my childhood. When you look at the amount of divorces, domestic violence, its a shame a few more men don't have the balls to tell their partner/wife they don't want children. My wife & I have a very full life and we are able to help others in need because we choose to. Who needs people to grieve for them? They might be glad to see the end of you or they may not. You have the challenge of raising well rounded compassionate children who will respect others and contribute to society. Good luck with all of that, and saving for your retirement because rent goes up and there will be no pension in a few years, but I suppose your saving the same amount that you pay for rent each week because that's the only model that provides a future. That's all too much work for me. I have my wife, my rescue dogs, my house and my cars and I am genuinely happy. Nothing wrong with that.
More BS.
If people need to make a decision between having a family and entering the property market then something is very wrong with Australia.
I have been on the property ladder, got on board in 01 as a 25yo detailer on $450pw as a sole buyer whilst raising 2 kids with a stay at home partner.
I did the hard yards, went without and then one day I said stuff it, I'm going without life's luxuries now in the off chance that I live long enough to enjoy it down the track.
I sold up 12 years ago and am happy as a pig in ****.

I grew up in a house where every dollar went into the bank, we never went on holidays and the only things I got was at birthdays and xmas.
My father died with a unit he owned outright and thousands in the bank , what did going without do for him?

My rent hasn't gone up in 5 years and only went up $10 then because the owners fitted the evaporative ducted A/C I asked for.
I'm lucky if I see the landlord once a year as they manage it themselves to save money on agent fee's and I treat it like it is my own.
Win, win.
Where can you live in an as new 4bdrm, 2 bthrm, double garage for $300pw that you never have to worry about being removed from and is your's to do as you please.
I've got a new boat I just bought, we both have good cars and can afford to travel around Aus watching our Daughter play sport a couple of times a year.

Old mate across the road and his Wife are owners, both work,he's a car salesman, she's a nurse, cant afford to give their Daughter a sibling due to the mortgage, constantly harassed by the bank, had to sell his boat, cant afford to fix the car, never go out etc. etc.
yeah sure, in 15yrs he'll be debt free but he'll have missed out on the best years of his life, not to mention what his kid is going without too.
People should not have to live like this just to own a house.
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Old 11-06-2017, 01:22 PM   #168
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Why do people think we are seeing such high prices for houses particularly in Melb/Syd and other capital cities? Interest rates being low by our standards is one major factor.

Texas is actually doing well economically atm yet its median house price is quite low.

https://www.zillow.com/ca/home-values/

California on the other hand has always had the highest prices in the US

https://www.zillow.com/ca/home-values/

Here is an article on California housing that I believe is a great explanation for what we are seeing in Australia atm.

http://www.lao.ca.gov/reports/2015/f...sing-costs.pdf

Thought it may be a good discussion thread considering the impacts if it were to burst and the Feds seem to be making noises about addressing the issue in the next budget.
dave289 started such a thread on this forum many years ago and as a result he is no longer on AFF. Tread carefully.........
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Old 11-06-2017, 01:55 PM   #169
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Where can you live in an as new 4bdrm, 2 bthrm, double garage for $300pw that you never have to worry about being removed from and is your's to do as you please.
I see your point but you will always be at the mercy of the landlord. If his/her circumstances change and they need to sell ASAP you will have no choice but to move (granted it could also happen to your own home too).

I couldn't live with that uncertainty/insecurity for my family and myself which is why I chose to buy my own place which I have total control over, with all its pros and cons.

Horses for courses though.
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Old 11-06-2017, 02:46 PM   #170
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Whilst the housing market is slowing, it's never going to go backwards significantly. The dumbest yet smartest thing I ever did was buy a house when I was 25. No bank would touch me because whilst both my wife and I had full time jobs and reasonable income (certainly not rich, but definitely not poor. We have never been able to claim family tax benifit b). The only way I got a loan was my home loan writer was owed a favour, and my dad owns the brokerage. Even still I had to pay an extra 12 grand for loan insurance because I was in the high risk demographic. The first 24 months was a tad rough paying the mortgage and supporting a young family, but then it got easier and easier. Now due to the property inflation I pay less per week mortgage then what the rent in the area is for a smaller place. There are run down weather board houses on 400 square blocks on main roads getting auctioned and fetching well above the reserve for well into the 900 thousand range. After associated expenses, 5 years back I spent a tad over 500 for a brick 3 bedroom with a detached granny flat on a 750 square block. I say it all the time to the young blokes I work with. I don't envy their situation. Not being rude, but there is no way they could ever break into the property market in sydney for a house on a decent block of land. Yeah a unit somewhere maybe, but you can't raise a family to the fullest living in a box. Rant over.
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Old 11-06-2017, 04:01 PM   #171
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I see your point but you will always be at the mercy of the landlord. If his/her circumstances change and they need to sell ASAP you will have no choice but to move (granted it could also happen to your own home too).

I couldn't live with that uncertainty/insecurity for my family and myself which is why I chose to buy my own place which I have total control over, with all its pros and cons.

Horses for courses though.
Scaremongers have been spruiking that for as long as I can remember, i've never experienced it, nor do I know of any who have.
If it were to come about, the landlord has the onus to either negotiate my continued tenancy until my current lease ends, or find me alternative accommodation of similar type.
The tenancy tribunal protects me from any shenanigans.

Having said all that, last year a family of ice addicts aquired the house across the road, if I told you who these people are your head would spin.
I immediately notified the landlord of our intention to vacate at the end of our lease as I wasn't raising my kids near that.
The Landlord freaked out as they've had it so easy for so long that they didn't want to lose us, even offering us one of their other properties.
If this happened to an owner occupier it would cost thousands to rectify, as a renter i'd just terminate my contract, and move on.
Might cost me a few hundred, but with the glut of rental properties available, finding acceptance elsewhere is but a formality.
Seems they were more reliant on me as a reliable tenant than I was on them being secure investors.

Unfortunately old mate the carsalesman who's been paying his mortgage had no choice other then put up with it or spend most of what he's made in capital gains to sell up and buy elsewhere.
Thankfully for both the ice addicts fell over and the house vacated soon after but the difference in attitude towards the problem between me the renter and he the owner was striking.
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Old 11-06-2017, 04:18 PM   #172
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The house I rented before I bought was on a 6 month lease. After 6 months we knew to start looking, and after 18 months we finally were told plans were starting to take shape. No official notice, but we up and left. The house was vacant for atleast a year leaving the land lord void of the added income. It's the landlords mistake saying anything about the plans, otherwise the wife and I would have payed rent up untill given notice. Don't have that issue being a home owner. I can't be given notice due to others unforseen financial positions.
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Old 11-06-2017, 04:36 PM   #173
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The house I rented before I bought was on a 6 month lease. After 6 months we knew to start looking, and after 18 months we finally were told plans were starting to take shape. No official notice, but we up and left. The house was vacant for atleast a year leaving the land lord void of the added income. It's the landlords mistake saying anything about the plans, otherwise the wife and I would have payed rent up untill given notice. Don't have that issue being a home owner. I can't be given notice due to others unforseen financial positions.
But it wasn't really unforseen was it.
You entered a 6 month lease and got 18 months in all, the property was obviously never meant to be a permanent rental property ongoing.
A landlord cant just give notice, if you have a signed lease for a set period then as a renter you are safe as...houses.
The place I'm in now i've been in for 7 years, the longest i've ever occupied the same place in my life and that includes when I was a kid and the olds owned, go figure.
If I was notified that I needed to leave at the end of my current lease i'd consider the time here done and move on the same as an owner chosing to sell and buy elsewhere only without the agents fee's and associated costs with the new purchase.
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Old 11-06-2017, 04:47 PM   #174
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But it wasn't really unforseen was it.
You entered a 6 month lease and got 18 months in all, the property was obviously never meant to be a permanent rental property ongoing.
A landlord cant just give notice, if you have a signed lease for a set period then as a renter you are safe as...houses.
The place I'm in now i've been in for 7 years, the longest i've ever occupied the same place in my life and that includes when I was a kid and the olds owned, go figure.
If I was notified that I needed to leave at the end of my current lease i'd consider the time here done and move on the same as an owner chosing to sell and buy elsewhere only without the agents fee's and associated costs with the new purchase.
Fair call. The land lord bulldozed the place to build a house for himself and found himself out of extra income for a year. I'm currently just satisfied that I'm only tied down by the bank and don't have any other factors that can affect my living arrangement. I personally feel that I have accomplished something jumping on the merry-go-round that is the housing market, had I been shopping today I'd have absolutely no hope of getting what I have. That being said, my house isn't anything special, it has an air conditioner, but it's mine.
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Old 11-06-2017, 05:40 PM   #175
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Scaremongers have been spruiking that for as long as I can remember, i've never experienced it, nor do I know of any who have.
If it were to come about, the landlord has the onus to either negotiate my continued tenancy until my current lease ends, or find me alternative accommodation of similar type.
The tenancy tribunal protects me from any shenanigans.

Having said all that, last year a family of ice addicts aquired the house across the road, if I told you who these people are your head would spin.
I immediately notified the landlord of our intention to vacate at the end of our lease as I wasn't raising my kids near that.
The Landlord freaked out as they've had it so easy for so long that they didn't want to lose us, even offering us one of their other properties.
If this happened to an owner occupier it would cost thousands to rectify, as a renter i'd just terminate my contract, and move on.
Might cost me a few hundred, but with the glut of rental properties available, finding acceptance elsewhere is but a formality.
Seems they were more reliant on me as a reliable tenant than I was on them being secure investors.

Unfortunately old mate the carsalesman who's been paying his mortgage had no choice other then put up with it or spend most of what he's made in capital gains to sell up and buy elsewhere.
Thankfully for both the ice addicts fell over and the house vacated soon after but the difference in attitude towards the problem between me the renter and he the owner was striking.
You have a very, very, very nice landlord and you seem like a good tenant. In my experience that match up is the exception to the rule.
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Old 11-06-2017, 06:06 PM   #176
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I agree, I'm with mates/socialising/sport participation/family other ways just not every Sunday doing the samesamesame.....
Yes there are different ways to socialise, I know people who socialise going out drinking and pi$$ing $2-300 against the wall in one night, that's not me, I may go out for a beer once or twice a year if that.

I don't play sports, I have a home gym and train at home it's what I prefer.

I do enjoy on a day off to go for a cruise and meet up on the sea shore somewhere for a coffee, again not every day or even every week.

So that's really up to what people prefer.
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Old 11-06-2017, 08:24 PM   #177
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Fair call. The land lord bulldozed the place to build a house for himself and found himself out of extra income for a year. I'm currently just satisfied that I'm only tied down by the bank and don't have any other factors that can affect my living arrangement. I personally feel that I have accomplished something jumping on the merry-go-round that is the housing market, had I been shopping today I'd have absolutely no hope of getting what I have. That being said, my house isn't anything special, it has an air conditioner, but it's mine.
Look, don't get me wrong, I'm not trying to say that renting is better than owning, I think its horses for courses.
As a renter I'm content with my lot as I went in with my eyes open and understand the concept, that's why I make a good tenant.

See when I bought all those years ago It was from family and where I had been living for the previous 12 months, so whereas many first home buyers get excited on settlement date when the turn the lock for the first time, I just went home knowing that all the things that needed attention were now my problem, I all but gutted the place to bring it up to what i'd consider worthy, working 5.5 days a week to pay for it and then all evening stripping wallpaper and sanding skirting boards to make it all worthwhile.
I sold it in Dec 05 for $165k, today its worth $200k tops.

Before Christmas I made enquiries about building a house on local land to the same spec as I'm renting now.
I was looking at $270k, I had the deposit, picked the house and block and well within borrowing capacity, just had to sign the contracts.
It would cost me around $250pw ($260k) more than I'm paying now over 20yrs and i'd pay 160k in interest, so it would need to be worth $430k to break even.

Not in this neighbourhood I'm afraid, not when old mate across the road has had his for 8yrs and its only gained 20k at the last valuation.
You should of heard the melt down upon that reality.
The 4 bedder across the road, same specs, nicer house, was marketed earlier this year @ $299-$314k and has already been discounted to $285-$300k and still has no one at the opens.

I'm down to 3 kids at home now and the next will be flying the coup soon, 18mths max, as she is currently studying to become a nurse and has plans to work OS, so when that time comes we'll downsize to a 3bdrm and save another $50pw.
When the nest is empty I wouldn't mind a small transportable unit in one of those retirement villages.

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Old 11-06-2017, 08:30 PM   #178
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You have a very, very, very nice landlord and you seem like a good tenant. In my experience that match up is the exception to the rule.
I've had many very, very nice landlords then..

That's because I get it, I treat their investment with respect and honour my weekly rental agreement and they leave me the **** alone...simples!
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Old 11-06-2017, 08:43 PM   #179
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Look, don't get me wrong, I'm not trying to say that renting is better than owning, I think its horses for courses.
As a renter I'm content with my lot as I went in with my eyes open and understand the concept, that's why I make a good tenant.

See when I bought all those years ago It was from family and where I had been living for the previous 12 months, so whereas many first home buyers get excited on settlement date when the turn the lock for the first time, I just went home knowing that all the things that needed attention were now my problem, I all but gutted the place to bring it up to what i'd consider worthy, working 5.5 days a week to pay for it and then all evening stripping wallpaper and sanding skirting boards to make it all worthwhile.
I sold it in Dec 05 for $165k, today its worth $200k tops.

Before Christmas I made enquiries about building a house on local land to the same spec as I'm renting now.
I was looking at $270k,
It would cost me around $250pw ($260k) more than I'm paying now over 20yrs and i'd pay 160k in interest, so it would need to be worth $430k to break even.
Not in this neighbourhood I'm afraid, not when old mate across the road has had his for 8yrs and its only gained 20k at the last valuation.
You should of heard the melt down upon that reality.
The 4 bedder across the road, same specs, nicer house, was marketed earlier this year @ $299-$314k and has already been discounted to $285-$300k and still has no one at the opens.

I'm down to 3 kids at home now and the next will be flying the coup soon, 18mths max, as she is currently studying to become a nurse and has plans to work OS, so when that time comes we'll downsize to a 3bdrm and save another $50pw.
When the nest is empty I wouldn't mind a small transportable unit in one of those retirement villages.
You're obviously a good tenant, and have a good landlord.

Look after them as long as you can haha.

Personally I always think if you're gonna rent then you should always try and bypass the agencies as much as possible. I've always had a better renting experience with owners rather than agencies.

When we built I said I'd never rent again... Gotta love relationship bs lol. Looks like il be renting again.
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Old 11-06-2017, 09:42 PM   #180
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Originally Posted by BENT_8 View Post
Look, don't get me wrong, I'm not trying to say that renting is better than owning, I think its horses for courses.
As a renter I'm content with my lot as I went in with my eyes open and understand the concept, that's why I make a good tenant.

See when I bought all those years ago It was from family and where I had been living for the previous 12 months, so whereas many first home buyers get excited on settlement date when the turn the lock for the first time, I just went home knowing that all the things that needed attention were now my problem, I all but gutted the place to bring it up to what i'd consider worthy, working 5.5 days a week to pay for it and then all evening stripping wallpaper and sanding skirting boards to make it all worthwhile.
I sold it in Dec 05 for $165k, today its worth $200k tops.

Before Christmas I made enquiries about building a house on local land to the same spec as I'm renting now.
I was looking at $270k, I had the deposit, picked the house and block and well within borrowing capacity, just had to sign the contracts.
It would cost me around $250pw ($260k) more than I'm paying now over 20yrs and i'd pay 160k in interest, so it would need to be worth $430k to break even.

Not in this neighbourhood I'm afraid, not when old mate across the road has had his for 8yrs and its only gained 20k at the last valuation.
You should of heard the melt down upon that reality.
The 4 bedder across the road, same specs, nicer house, was marketed earlier this year @ $299-$314k and has already been discounted to $285-$300k and still has no one at the opens.

I'm down to 3 kids at home now and the next will be flying the coup soon, 18mths max, as she is currently studying to become a nurse and has plans to work OS, so when that time comes we'll downsize to a 3bdrm and save another $50pw.
When the nest is empty I wouldn't mind a small transportable unit in one of those retirement villages.
I guess different ideas for different people, I have never rented for a day in my life, moved out into my first home in my early 20's, paid 165K paid it off in 10 years (while living in it) and sold it for 378K, build my next house at a total cost of 465K (land and house) lived in it for a further 10 years and sold it for $550, Now build my final house for around 500K and loving life.

I rather pay into my own property than pay someone else's mortgage off for them..
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