Open your mind to options, car sharing and living further out, going tenants in common in a house, ask your employer if you can salary sacrifice the rent and they pay fringe benefits, there is a multitude of options if you open your mind.I have looked and that is what I have thought about too. Rent out the other rooms to help. But I also don't count on those things. I also share my current rental to save more on costs (I save the money and will put it to starting up new systems to trade).
But you are definitely correct. I also see the market as just being well over-valued so right now I can rarely justify it. It's also only up to this time year that I left my job that had me move every year or two for work. Now that I am in a stable location and job, I'll start looking more seriously.
Open your mind to options, car sharing and living further out, going tenants in common in a house, ask your employer if you can salary sacrifice the rent and they pay fringe benefits, there is a multitude of options if you open your mind.
If I was in your shoes, I would do exactly the same.
I've been running my SMSF since 2007 and retired in 2011 at 55, so will watch your progress with interest.Be sure to follow my ASX300 Super thread. Will eventually transfer that to a SMSF and then use the gains from that system to invest in a house to use in my retirement.
Shameless plug I know. But I couldn't resist haha.
I sit right in the middle on this, from one side I see some of this as being out of touch from the boomers point of view, but from the other side I definately think the "young" people or majority of them have ridiculous expectations. Is there any normal people left in this country? ? But if there is still any normal people that don't have high expectations I still think it is very hard for them and not easy to pack up your family and leave melb or syd, but this argument goes in circles, im no longer that passionate on it anyway.
What I do agree on here is why we need to keep bailing out and babying those in melb and syd. Saw some chick on news saying how ohhh nooo her mortgage payments are up and food bills are already high... "ahh then get a better job mate"
That's what I would love. The freedom to make changes to the house. I also love pets, but in a rental I'm just not willing to do that. All your points are valid (pizza oven, makeshift upgrades to the place, etc.). It's why I will eventually own, but in the meantime it just hasn't been viable. If the market finally cools then I will look more seriously.
Certainly not disputing what you're saying but it hasn't been right time with my particular circumstances.
And agian, I prefer putting my money into shares and trading systems. lol
What's an SMSF?I've been running my SMSF since 2007 and retired in 2011 at 55, so will watch your progress with interest.
By the way left school at 15 and always worked for wages, plus didn't inherit or rip off anyone for anything.
From a very early age I told my kids you don't make money on a car when you sell it, you make all the money when you buy it, that goes for most things but especially so on depreciating assets, if you can buy a demo for $10k less, when you sell it you will get the same price as if you had bought it new.From that cycle I learnt the only time the house price matters is the day you buy it and the day you sell it. .
Taking responsibility for your own destiny.What's an SMSF?
Funny, my old man stopped buying cars and just leases them. He constantly pays the same payment but keeps getting a brand new car every few years.From a very early age I told my kids you don't make money on a car when you sell it, you make all the money when you buy it, that goes for most things but especially so on depreciating assets, if you can buy a demo for $10k less when you sell it you will get the same price as if you had bought it new.
I've been running my SMSF since 2007 and retired in 2011 at 55, so will watch your progress with interest.
By the way left school at 15 and always worked for wages, plus didn't inherit or rip off anyone for anything.
Funny, my old man stopped buying cars and just leases them. He constantly pays the same payment but keeps getting a brand new car every few years.
Could never figure how it works TBH.
I buy my vehicles outright and drive them until they literally fall a apart. My last three cars are still sitting in my yard unregistered and have not been started in 12 years.
A really close friend of mine did that, but I couldn't see any sense in it, basically you are taking a car on hire purchase and also paying for the the leasers lunch.Funny, my old man stopped buying cars and just leases them. He constantly pays the same payment but keeps getting a brand new car every few years.
Could never figure how it works TBH.
On one hand housing is overpriced and that's bad in terms of broader economic consequences both to individuals and the nation. For anyone who says otherwise, just compare price versus wages in the past with today's figures and it's readily apparent.I sit right in the middle on this, from one side I see some of this as being out of touch from the boomers point of view, but from the other side I definately think the "young" people or majority of them have ridiculous expectations.
Self Managed Super Fund.What's an SMSF?
I thought we were playing the game of describing it without naming it ☺Self Managed Super Fund.
Self Managed Super Fund.
Geez just talking to a friend in Caloundra, his neighbour bought his house 5 years ago for around $580 000 sold it last week for 1.2 million. The house is over 40yo.
No house on the street was bought for a million, now every house on the market gets a minimum of a million and they are selling like hotcakes.
Why is anyone wasting time and money on the stock exchange, show me where you can get 100% gain in 5 years in any share market.
Housing has gone nuts.
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