Hi Mayuran, Thanks for that info. I have a Mac with 2007 version of Excel for Mac. It doesn't seem to have that template   Not to worry, I'll figure something out. Thanks for your help Charlie

Mayuran and Qlds007…..thanks for your help. The figure of $526.50 for a period of 1 year is also what I had worked out before I put up  my original post. What I was hoping to be able to work out was how much time might be saved on my sister's mortgage by having my money sitting there and then what the implications for her are when I withdraw my…[Read more]

Hmmmm….unless I'm missing something (and I've been known for my lack of mathematical prowess in the past), this calculation doesn't make sense to me. (7.17%-6%)x45000x365 = 192 172.5This is clearly not the benefit (saving) she would be making on having $45000 sitting against her mortgage for 1 year. Call me a dufus if you wish……

Hi Dave, Why don't you ask your tenants whether this would appeal to them? As a tenant, I would be happy if my landlord approached me with something like this as our electricity bills have been increasing significantly over the years. Not sure about the solar credits as it's an IP. Perhaps this is why my landlord hasn't installed some here!? A 20%…[Read more]

Dear Angel, I'm so sorry to be reading about your loss. Your faith in God is your strength. I will pray for you through this tough time. Love in Christ, Charlie

I grew up in Lake Macquarie, but I know that Mayfield and Islington have bad reputations. Islington is a bit of a red light district. Warner's Bay around Lake Macquarie is very popular! Two of my sisters live there.

Thanks both streamlineinvesting and Terryw for your comments. it's all food for thought. I have an awful lot of research to do! I'm certainly not going to rush into anything without a clear view of the financial position I may put us in. I really value hearing everyone's views. At the end of the day….it all comes down to how much risk I'm…[Read more]

streamlineinvesting wrote:
From reading it seems you cannot afford to buy in your area, you do not want to move, so you will have to continue paying rent. I know a lot of people are a bit turned off by rural areas because I guess they see less oppurtunity or growth in there, which I guess is a fair assumption, but provided you purchase in a…[Read more]

JM – we're renting in Berowra. Family support is both in Lake Macquarie and the Nth Beaches. We're about 1/2 way from both. Your suggestion would be good (and we probably would have done it by now) if it wasn't for my stepchildren who come over every other weekend and 1/2 the school holidays. We still need to account for their presence in our home…[Read more]

Hi guys, Well….not a very encouraging read for me so far!!!!Jamie…the median house price where I'm living is $630 000. A bank wouldn't lend us this amount anyway and the repayments would be more than double our current rent. I'm not going to move out to Western Sydney where we could afford to buy just to say "we've bought our own place" when…[Read more]