I have given up buying a house
- Thread starter krisbarry
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Agreed. Walk around any capital city and you'll find that virtually everyone there is working age or under.Stop_the_clock said:
Why anyone over the age of 30 would chose to live in the centre of a capital city I just don't understand. Suburbs OK, but not the city centre. By that age the novelty of going out every night, constant noise and general bustle wears off for many. Unfortunately, this leads some to try and change the city centre itself rather than changing their address.
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This same scenario is happening in the inner and central suburbs of all capital cities too. The youngs need the houses that are close to the city, close to work, close to education campus, close to schools etc
BUT
The olds already have this and not only do they have this but they have multiple of this.
See my point.
Which leeds me onto the path at which youngs are forced to rent closer to the city or pay way over-inflated prices for houses.
OR...
Move 2 hours out of the city, with a lack of employment, education campus', services, etc to be able to afford a house.
Do the olds really need to be in the central/inner suburbs or in the CBD, NO!
BUT
The olds already have this and not only do they have this but they have multiple of this.
See my point.
Which leeds me onto the path at which youngs are forced to rent closer to the city or pay way over-inflated prices for houses.
OR...
Move 2 hours out of the city, with a lack of employment, education campus', services, etc to be able to afford a house.
Do the olds really need to be in the central/inner suburbs or in the CBD, NO!
enjoy the fruits of your labour,
Old people as you too put it hang around the city so they can enjoy the fruit of their labor.Museums,theaters,city sites,cafes, cinemas,cosmopolitan atmosphere,I dont know where Smurf or Stop the clock,are coming from but maybe I would be very careful ,your parents might find out about your selfish attitudes and leave all their hard earned money to the rspca.And that will serve you right.
Old people as you too put it hang around the city so they can enjoy the fruit of their labor.Museums,theaters,city sites,cafes, cinemas,cosmopolitan atmosphere,I dont know where Smurf or Stop the clock,are coming from but maybe I would be very careful ,your parents might find out about your selfish attitudes and leave all their hard earned money to the rspca.And that will serve you right.
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Enjoying the fruits of your labour is one thing, but gorging on the fruit till you have a stomach ache, now, well that is a different kettle of fish.
Just checking when its OK for the next generation to start enjoying the fruits of their labour!
When can they sow some seeds so to speak?
No point me moving 2 hours out of the city to find work, and pop out a few kids, who will feed them out there.
Just checking when its OK for the next generation to start enjoying the fruits of their labour!
When can they sow some seeds so to speak?
No point me moving 2 hours out of the city to find work, and pop out a few kids, who will feed them out there.
Stop_the_clock said:
You know stop you are such a moron,that I`m speechless,obviously intelligent conversation is never going to work with someone like you,I suppose thats one of the reason why parasites exist such as the Tweed moron.And the list is way too long for the rich parasites,but fortunately our jails are never too full for parasites like you,enjoy freeloading because a warm bed and a nice meal will be waiting for you at her majestys pleasure when you put a foot wrong legally.
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May I put it in another way, canning the fruits of your labour, and hoarding them in a bunker, doesn't help the rest now does it.
Some of us would like to eat fresh fruit from the tree and share it with our up and coming families.
Some of us would like to eat fresh fruit from the tree and share it with our up and coming families.
what the hell is going on here...
everyone is entitled to live wherever they want...! and everyone can do it if they want it badly enough!
i am 27, i bought a house 1 year ago (so it was very expensive... but thats not the point)... 5 kms from the city (Adelaide), 3kms to the beach, with no inheritance, no outside assistance, and certainly no big gains on the share market... (most of my gains have been after i bought the house, with the little money i kept aside for trading... !)
I had been working 6 years earning on avg. 50k a year... But continued living at home, and my parents were more than happy with that... and so was I!
That allowed me to save most of my salary... I still went overseas twice (total cost 25k) and i've partied pretty hard, mainly alcohol... certainly no expensive drugs, cigarettes, etc... and no fancy gadgets, few if any brand name clothes, never bought CD's, games, etc... (thanks to the internet...)... and also drive a 99 BMW323i... (half way thru repaying that)
most of my school mates, some who didn't go to uni, but working in retail, office works, etc... all have houses... some brought in 2000 and are doing better than me... but i'm certainly not complaining...
It can be done if you want it too...
BUT.... if you are a slave to consumerism.... forget about it...!
everyone is entitled to live wherever they want...! and everyone can do it if they want it badly enough!
i am 27, i bought a house 1 year ago (so it was very expensive... but thats not the point)... 5 kms from the city (Adelaide), 3kms to the beach, with no inheritance, no outside assistance, and certainly no big gains on the share market... (most of my gains have been after i bought the house, with the little money i kept aside for trading... !)
I had been working 6 years earning on avg. 50k a year... But continued living at home, and my parents were more than happy with that... and so was I!
That allowed me to save most of my salary... I still went overseas twice (total cost 25k) and i've partied pretty hard, mainly alcohol... certainly no expensive drugs, cigarettes, etc... and no fancy gadgets, few if any brand name clothes, never bought CD's, games, etc... (thanks to the internet...)... and also drive a 99 BMW323i... (half way thru repaying that)
most of my school mates, some who didn't go to uni, but working in retail, office works, etc... all have houses... some brought in 2000 and are doing better than me... but i'm certainly not complaining...
It can be done if you want it too...
BUT.... if you are a slave to consumerism.... forget about it...!
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Alas, so we have 1 young person with an opposing view.
I do point out that you bought in at the top of the housing market and you have endured 1 rate rise, with another one on its way, plus the possibility of another one later this year. It would be nice to check back with you in a years time and see how you are travelling.
I also note that you stayed at home to save money, well done, but not always possible for many.
I do point out that you bought in at the top of the housing market and you have endured 1 rate rise, with another one on its way, plus the possibility of another one later this year. It would be nice to check back with you in a years time and see how you are travelling.
I also note that you stayed at home to save money, well done, but not always possible for many.
Stop_the_clock said:
Agreed, its not always possible staying at home... thats why i illustrated my circumstances exactly, so at to not cause any generalisation...
What I was trying to say it was sacrifices had to be made.... Let me tell you... enduring the 20 questions from mum on a Sunday arvo when you'e just got out of bed.... Its NO FUN AT ALL!!!
As for the future... i'm locked in for 5 years at 6.85%... naturally, there could be recession tomorrow, i could loose my job and the crap can hit the fan rather quick... but then, when is it ever a safe time buy a house?
PS: as an aside, i didn't buy a house in 2001 cause i was a contractor... and my dad told me to wait till i get a permanent job to get one... !!! well, that cost me about 200k! Oh well... forget about the past... look to the future...
Realist
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Rafa said:
With all due respect Adelaide is one of Australia's cheapest cities to buy in..
If you had to work 6 years while living with your parents to buy there then please explain how you'd go renting in Sydney saving to buy a house that costs 3 times what they do in Adelaide.
Then please explain to me there is no problem with house prices...
Realist said:
Agreed, Adelaide is cheap, but I still paid 400k plus for the house... in Sydney that would get me a smaller place, townhouse maybe, further out from the city...
what i've said is with enough sacrifices you can still buy one...
certainly, if i lived out of home, and enjoyed all the freedom that comes with it... and had lavish lifestyle... i'd still be renting... even in adelaide!
Stop_the_clock said:
Make that 2 as im 22 (going on 23 in Nov) and just settled last wednesday.
But its a home for me and my wife.
Although it was a good price i still think its overpriced. But then again i dont think there are many places in Sydney Metro that isnt overvalued.
As for capital gains, i think its only usefull if you develop property but buy/hold is a waste IMO and too much capital to tie up for a investment considering the risk/reward.
my
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The closest I got to owing a piece of real estate, was a bed-sitter valued at $70,000+, about 5km out of the city.
I put in an offer for $65,000 and was approved
Saved up $20,000 and signed with the real estate agent.
...
Long story short, not one bank or finance company would touch me, due to the property.
Banks and finance companies do not like bed-sitters, even tried homestart, the so called experts for first home buyers, no luck there either.
The real estate agent said he could organise on-site finance but it would be over 9%, I told him where to shove it, and cancelled the deal within the cooling off period.
I put in an offer for $65,000 and was approved
Saved up $20,000 and signed with the real estate agent.
...
Long story short, not one bank or finance company would touch me, due to the property.
Banks and finance companies do not like bed-sitters, even tried homestart, the so called experts for first home buyers, no luck there either.
The real estate agent said he could organise on-site finance but it would be over 9%, I told him where to shove it, and cancelled the deal within the cooling off period.
Realist
Billie Jean is not my lover
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Stop_the_clock said:
haha, funny story.
$65,000 - how much would that place be worth now?
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Ageo said:
me three
bout the same age too, 23.only took me a year to save for a house about half the price of rafa's....
The Mint Man said:me three
only took me a year to save for a house about half the price of rafa's....
hehe unfortunately mine cost $364,000.
But for the area anything under 400k and for the quality of the home is a good buy.
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No problem with that. None at all. My objection to retirees etc chosing to live in the city centre is that they then often want everything else OUT of the city centre in order to transform it into a place where they actually like living. Same with the innermost suburbs.Rafa said:
Live wherever you like. But don't expect business etc to move out after you've bought just because you don't like the traffic, music, noise or whatever else is upsetting you. If you don't like those things then live somewhere in the 99.9% of Australia, or at least 95% of each capital city (the suburbs), that doesn't have them.
I find it really strange that people move to the inner city to "be where it's at" but then seek to get rid of the very things that make the city different to the suburbs.
It's like moving to North Queensland and then complaining about heat and humidity - it's common knowledge and if you choose to live there then you put up with it. If you don't like the heat then you move to Victoria or Tasmania. If you like everything about North Queensland apart from the weather then you have to make a choice. Either put up with the heat and humidity in Queensland or accept the different lifestyle in Vic/Tas in order to escape the heat. You can have one or the other but not both. Same with the city centre / peace and quiet trade-off.
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