Welcome to the Australian Ford Forums forum.

You are currently viewing our boards as a guest which gives you limited access to view most discussions and inserts advertising. By joining our free community you will have access to post topics, communicate privately with other members, respond to polls, upload content and access many other special features without post based advertising banners. Registration is simple and absolutely free so please, join our community today!

If you have any problems with the registration process or your account login, please contact us.

Please Note: All new registrations go through a manual approval queue to keep spammers out. This is checked twice each day so there will be a delay before your registration is activated.

Go Back   Australian Ford Forums > General Topics > Non Ford Related Community Forums > The Bar

The Bar For non Automotive Related Chat

Reply
 
Thread Tools Display Modes
Old 18-02-2014, 08:43 AM   #151
zilo
BANNED
 
zilo's Avatar
 
Join Date: Jul 2012
Posts: 2,886
Default Re: I can pay off my house in 4 years pretty much on poor blokes wage!

Quote:
Originally Posted by blackwasp View Post
ok i have to respond now! i have 145k in the bank, renting 350/w. not sure what to do. i hear/read about the impending bust in the housing market.
1. should i buy a home to live in where i'm living now 50km from work , don't mind it but could easily afford 350k mortgage
2 should i buy where i really want to live , 8km from work , near the beach but with a hefty 500k mortgage
3. should i buy an investment property where the rent pays for the mortgage
4 just continue to rent where i am 50km from work and save more money?

live in sydney with wife(not working) and 1 kid
cheers
confused

50k from work?


that's costing a pile of time and dollars and stress in travel.

you must get up in the dark and get home in the dark?

I would rent closer to work mate or get the cheapest house as close to work as possible....
zilo is offline   Reply With Quote Multi-Quote with this Post
Old 18-02-2014, 09:55 AM   #152
blackwasp
Regular Member
 
Join Date: Jul 2006
Posts: 123
Default Re: I can pay off my house in 4 years pretty much on poor blokes wage!

work arvo shift , so traffic not too bad. 50 mins versus 10 mins if i lived where i wanted too.
blackwasp is offline   Reply With Quote Multi-Quote with this Post
Old 18-02-2014, 10:57 AM   #153
Yellow_Festiva
Where to next??
 
Yellow_Festiva's Avatar
 
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
Default Re: I can pay off my house in 4 years pretty much on poor blokes wage!

Quote:
Originally Posted by blackwasp View Post
ok i have to respond now! i have 145k in the bank, renting 350/w. not sure what to do. i hear/read about the impending bust in the housing market.
1. should i buy a home to live in where i'm living now 50km from work , don't mind it but could easily afford 350k mortgage
2 should i buy where i really want to live , 8km from work , near the beach but with a hefty 500k mortgage
3. should i buy an investment property where the rent pays for the mortgage
4 just continue to rent where i am 50km from work and save more money?

live in sydney with wife(not working) and 1 kid
cheers
confused
Take option 2. Will cost around $150 pw extra but you will be having to put much less petrol in your car as you will be driving 420km less per week (assuming you drive to work).
__________________
___________________________

I've been around the world a couple of times or maybe more.......
Yellow_Festiva is offline   Reply With Quote Multi-Quote with this Post
This user likes this post:
Old 18-02-2014, 02:21 PM   #154
BENT_8
BLUE OVAL INC.
 
BENT_8's Avatar
 
Join Date: Feb 2006
Posts: 8,705
Default Re: I can pay off my house in 4 years pretty much on poor blokes wage!

Opt2.

Last edited by BENT_8; 18-02-2014 at 02:29 PM.
BENT_8 is offline   Reply With Quote Multi-Quote with this Post
This user likes this post:
Old 18-02-2014, 08:45 PM   #155
gtfpv
GT
 
gtfpv's Avatar
 
Join Date: Apr 2005
Location: SYDNEY
Posts: 9,205
Default Re: I can pay off my house in 4 years pretty much on poor blokes wage!

option 5. move where you want to live and rent . keep your savings and invest it .
gtfpv is offline   Reply With Quote Multi-Quote with this Post
This user likes this post:
Old 18-02-2014, 09:10 PM   #156
GTPete
FF.Com.Au Hardcore
 
GTPete's Avatar
 
Join Date: Apr 2006
Location: NSW
Posts: 1,026
Default Re: I can pay off my house in 4 years pretty much on poor blokes wage!

Option 2
GTPete is offline   Reply With Quote Multi-Quote with this Post
This user likes this post:
Old 18-02-2014, 11:18 PM   #157
nuthin' fancy
Lyminge, Shepway, Kent
Donating Member3
 
nuthin' fancy's Avatar
 
Join Date: Oct 2008
Location: Geelong - Go Cats
Posts: 3,197
Default Re: I can pay off my house in 4 years pretty much on poor blokes wage!

Quote:
Originally Posted by blackwasp View Post
ok i have to respond now! i have 145k in the bank, renting 350/w. not sure what to do. i hear/read about the impending bust in the housing market.
1. should i buy a home to live in where i'm living now 50km from work , don't mind it but could easily afford 350k mortgage
2 should i buy where i really want to live , 8km from work , near the beach but with a hefty 500k mortgage
3. should i buy an investment property where the rent pays for the mortgage
4 just continue to rent where i am 50km from work and save more money?

live in sydney with wife(not working) and 1 kid
cheers
confused
Option 5

Rent where you want to live, invest where you will get a reliable tenancy. I suspect the rental return on a $350k house will be higher as a % than in a $500k house.

GTP and I on the same wavelength.
__________________
Mel Brooks sums it up best;

"Comedy is when you fall into an open sewer and die, tragedy is when I get a paper cut"
nuthin' fancy is offline   Reply With Quote Multi-Quote with this Post
2 users like this post:
Old 20-02-2014, 09:09 AM   #158
wicksy
Just a bogan VF SS driver
 
wicksy's Avatar
 
Join Date: Mar 2005
Location: Blackwater, QLD
Posts: 719
Default Re: I can pay off my house in 4 years pretty much on poor blokes wage!

good luck getting a house for under $300k up here in mackay haha, lucky bastards down there
__________________
Just your typical Holden Driver
wicksy is offline   Reply With Quote Multi-Quote with this Post
Reply


Forum Jump


All times are GMT +11. The time now is 12:47 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Other than what is legally copyrighted by the respective owners, this site is copyright www.fordforums.com.au
Positive SSL