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It’s good to hear your wife is following her heart and isn’t letting the paypacket decide what she wants to do. great stuff!
Bit of an update people, Cremin and I have bought our first investment property!! WOohoo!! And a d’oh and well… It is a lot more than we had anticipated but for all intensive purposes, it will become our PPOR in a year or twos time and we won’t be moving from there for a bloody long time!!
Figures.. um… $246K for a 5×2 with an office in Sunset Beach Geraldton. As the name suggests, it’s 300m from the beach and 200m from the river. Awesome area as we’ve rented there before. The plan is to rent that house out for around the $300p/week mark (Mates of our rented a house for $275 one street away for a 4×2) so it will still be -geared, but we go and see tax accountant today to see what deductions we can get. We gonna live in our cheaper home and keep renovating it. Quite nice too, new kitchen!
We had a big think about it all and I really want kids and wanna stay home with them so we had to bite the bullet and buy a place that we could set up a family daycare at. we can certainly do that!! Just feel a little overwhelmed as we are now a statistic. 2 properties but hopefully we can increase that in a year or twos time.
We happy about it. It’s a home not a house…
Have a great day!!
Steph.Geez Michael, I wish I could have a little yacht… One day…
Well here I am back but with a dilemma this time. Kiddies are on the horizon within the next year or so and we have to make our financial plan with what to do.
I desperately want to stay home with child and don’t want to go to work as my mum stayed home with my bros and co. We’ve been looking into Family Daycare and it looks fairly viable as I can stay home with child and look after a few others as weel as get paid for it. Plus I get right off pretty much all my groceries, 1/2 of phone, water, electricity, gas bills.
The dilemma we have is that the current house we are in has teh room for a shed down the back which we could change into a mini room type thing for daycare with bathroom etc but the cost of the shed etc will be $20K +. We don’t feel that it would increase the value of the house and are looking to other alternatives.
The next idea was to get a house that 4×2 with a decent yard and run it from the house. The only thing is, that the suburbs I prefer to live in, the houses are around the $200K mark (but fairly new so nothing really ahs to be done to it). Something we were not contemplating for some time.
The only idea we can think of at the moment is use some of the equity in this house (We have around $40K available to us) as a deposit for the second house. Rent that out for a year so we can finish our current house plus it is cheaper to live in and we would get heaps more rent in the more expensive house. Then we would try and get ahead of payments and pay all excess cash into the bigger house to bring the amount down before junior hits the scene in a year and bits time.
The bigger house would be negatively geared but to a point we can handle at the moment. When it comes to moving into the bigger house, our smaller house should be neutrally or slightly negatively geared. SIGH… Not the outcome we were wanting but it’s looking a reality.
Another option is borrow money off parents to help keep number down. I’m open to idea, hubby is pretty closed to matter. Proud young man he is…
Any help? What would you do in my situation? I really like the idea of the day care as it will work with staying home with kiddies. How can we get around the money situation without winning lotto?
Steph.Success is 1% inspiration and 99% perspiration.
what do you mean kids things??? I don’t have kids! I just enjoy making things that don’t cost me a great deal but still look great. My mum taught me how to make the plaster of paris table deco when I was about 10. She made about 80 of them for a cabaret night and everyone wanted to know where she had bought them from. Hee hee…
LEt us know if you attempt any?
Steph.Bruham, cheers for your input, but I believe that people really are oblivious of the consequences. I mean honestly, how many people do you know that reads the fine print on those buy now pay later get up?
If someone has commented they have used it, I’ve asked them if they read it and they almost always have not. I’m not on my high horse mate, I’m just stating what is the bleeding obvious. I understand some people have no option but to use a credit card as it’s happened to me, but my point is, sometimes it is for stupid things they use it for.
I.e. TV breaks down so they go to get an equivalent but come home with one three times the size and budget! Have know of people to do that…
What about preivously before credit cards? If something broke down how did people cope with that? I think probably just fine. Maybe a little strained but most came through…My nan being one of them. They just had to find alternative answers or means…
Ahhh, now that makes sense…
Nice point Calvin and I agree. Perhaps I was not articulate enough in my answer, I think I was rather tired.
But…one can read the bible one way and take it literally (Baptists ?) and others look to it for guidance and use the symbolism within it to relate it to current times.
I think it is had to take on Christianity without the ancient traditions that go with it. I mean the breaking of break is a jewish tradition from passover but was emulated by Christ at the last supper, therefore, extremely important to catholics as it was a symbol of Christ giving his life for us. He gave us the symbol of BRead and wine, and when consecrated by a priest it becomes his body and blood.
If you take that tradition and ritual away from Christianity, then it is in effect meaningless. (Please keep in mind I am using the breaking of bread as ONE example of the many rituals from diff religions)
As a teacher in a Catholic school, we encourage the children each day to become “Christlike” in the way they behave and how they treat others. We always go back to those commandments you stated Calvin.
Anyway, I dunno if my point is across or not again… Bloomin’ frantic mind at the moment…My point is you can’t just read the bible. You sometimes need guidance to interpret and understand it and that is when religions come into it. It’s just up to you who you believe.
Steph/Shame Jars. Sounds like you have never had the pleasure of making your own Xmas decorations.
Good on ya redwing. I’m trying to get my kids at school to make xmas present for their family members rather than buy things.
Another one is to get a baked beans tin, fill it up with water to the brim. Freeze it. WHen frozen, using a nail punch and hammer, hammer a design into the can. Let water thaw out and then spray the can any colour you want. Finally buy a small/medium sized candle for the middle. It makes a great candle holder for outside and it looks fabulous when lit!
Oh yeah, for that glass one you had, using masking tape, you can put a design on the glass then spray with frosting paint. Another really lovely candle holder.
And another canlde holder… More for those skinny long candles. Using the cap off the fly spray, collect some nice, small gum tree sticks (With leaves and honky nuts attached) and arange them in the cup(sometimes ivy is noce too). Take them out and three quarter fill the cap with plaster of paris. Before it sets, start putting the sticks and leaves back until you cannot see the cap anymore. Once you have finished with the leaves tec, finally push the candle in the middle and hold it there for a minute or two while it sets. Once set hard, none of the foliage should move and you can then spray them lightly with silver or gold spray paint to jazz them up a little. These look fabulous and don’t a great deal either. People will marvel at your creative abilities.
Good luck everyone!
Steph.Would you make money on that? Wouldn’t the interest you’ve paid while construction has happened eat all your profit up?
Me personally, I’m a north of the river girl. Ellenbrook would be the way to go for me. Ahhhh wineries galore!!!
Steph.Do you mean Coodanup? But that’s in Mandurah….
Hmmm…Zen, sometimes it pays to go with your gut instinct. Invest in an area you know and perhaps you can afford. Keep that in mind and you’ll find something.
Steph.Yay! I agree with you Felicity! Buy within your means.
Marsden, what a sad story. Oh well, they won’t that mistake again…
I think one of the traps with withdrawing the “equity” in your own home is that you can think, “Oh just a little more so we can get that as well…” We are looking for our first IP and will use a little bit of equity from the house as a deposit. BUT I am extremely aware that the interest we pay will go up accordingly too. Knowing that, I certainly don’t want to overextend ourselves, considering we are hoping to try for a bub in the very near future…
How bout my second question form my second post? Do you feel you indulge in your children a little or do you teach them to value money and how to earn it?
Steph.Success is 1% inspiration and 99% perspiration.
Yes, good ‘uns to all who have managed to learn how to save and pull their heads in when needed.
I dunno, I’m a school teacher and I hear a lot from the children “Oh we got this, and that and next week we get that!” and it gets you wondering. Sometimes it’s pretend keeping up with the Jones’ but most of the time it is true. What values does that send to your children?
Ok, my next question… To parents out there…
How have you helped your child/children develop an appreciation of earning money and saving for things they would like? Do you sometimes cave in and give it to them or do you stick by your guns and make them work for it? I personally was taught to save for what you wanted and I didn’t really bug my parents too much about other things coz there was four of us and money was Reeeeeeaaaaaaallllllyy tight…
Please, someone! Restore my faith that there are parents out there who indulge in their children but without going down the materialistic route!!!
Steph.Success is 1% inspiration and 99% perspiration.
[baaa]
It really concerns me that people don’t realise the implications about credit cards, buy now pay later and borrowing the equity on your house.Surely there has to be a point when these people go bust! Why are there not more people going bankrupt then?
I totally understand why people want all the bits and bobs as they are sooooo easily accessible. But one also has to question the NEED of all those things.
I find that it is really sad that these people have “Lovely” houses, but are pretty much living on the poverty line coz of their fanciful expensive lives. There’s no problem if you have the income, but the majority of us are on the $43K a year average. Needless to say, Cremin and I are working on changing that but it does take time…
Sigh, all those poor children who effectively don’t have parents…
Anyone else with anymore stories? I tell ya what, that’s a hell of an interest repayment to make richmond… $2700 just for the place you live in!!! I’m glad we are only paying what we would be if we were to rent!When will people wake up…[confused2]
ZEN! Hillarys has a bl**dy marina! WHat did you expect with the prices! They don’t just sell one house for $1M, they sell many houses at the $800K mark. You should see the joints up there. Bl**dy mansions!
Quote Bruham
“Scremin,
Thirty years ago you couldn’t go from Yokine to the beach in fifteen minutes.You must have an aeroplane parked in your Morley back yard.
As a once resident of MT Yokine there was no chance of achieving that time.
Any new express ways(or fly ways) built in the last ten years?
Morley,in those days,with the first suburban shopping centre complex in Perth was a rough suburb.Bet it hasn’t changed any!!!!”As for Morley, we had MorleyDr?Karrinyup Rd to go down to and it DID take us 15 minutes to get there!Yes Morley used to be a slightly rough diamond, but many of the “old” residents as I like to call them, have all moved out and there has been an influx of young families with children.
Naturally with the Galleria there is still some anti-social behaviour from teenagers, but security is tightening around the centre and therefore makes the areas around them a bit safer too. I know this because I grew up across the road from the Galleria, worked there for 10 years and still regularly go home to my parents house.
I personally think it is one of the better areas to buy in as it has access to all areas of PErth with being too much trouble. I love the area, but I can’t afford to buy there anymore. Besides, I now live 1km away from the beach so ner…
Steph.Me a good Catholic girl. I sit as far to back of the church as possible, I had pre-marital sex and I lived in sin for 4 years before redeeming myself and getting married. HEe heee….
I have to admit, since I was 12 years old, the church or my faith did not really play a big part of my life but that is changing. In a changing society and world, really all we have left is faith that there is a higher cosmic being who can help us along the way. In a way, it helps us gain faith in ourselves.
My point is, I believe Religion has a place in society and regardless of the current religious state of the world, tolerance needs to become the next big word aside from faith….
Steph.
Success is 1% inspiration and 99% perspiration.
Calder I couldn’t agree with you more. Your life is based on your choices or the choices your parents have made before you were around. Sometimes they have been bad choices, but if you are down and out you have to look at the bad bits and say “Shit I won’t do that again!” and keep going.
Unfortunately today, parents are so preoccupied to make sure their little darlings don’t make bad choices so they make them for them, that these morons think they can do no wrong and then when they do, they crash and burn badly.
I try and help my 30 9year old children in my class to understand that life is full of choices and you can be what you want to be, but you have to also deal with the consequences of those choices too. If they aren’t given those skills, how the hell are people going to cope…
I dunno if I’ve answered you qn or not…
Steph.Success is 1% inspiration and 99% perspiration.
Oh I forgot to answer the qn… good one steph…
I think find a suburb that has access to a main artery of PErth and that is where to invest. IE. I grew up in Morley and really, we are only a 15 minute drive to the beach and Morley is an “Eastern” suburb. It was easy to get there coz we live about 2km away from the Reid HWY and Morley DR/Karrinyup RD.
As long as people have easy access to roads to get about Perth, that is what I would be putting my money towards.
Steph.Success is 1% inspiration and 99% perspiration.
The wa gov is absolutely pathetic at the moment. They are agreeing to absolutely stupid ideas and spending the tax payers money on white elephants all over the state!
Plus their stunt with “Kids go free” to the Royal show certainly didn’t win any fans out in the country. I know most of my class (Year 4 in Geraldton) were seriously p*ssed they couldn’t go coz of the distance factor.
Why the hell would they want to relocate the Freo port? That’s half of the fun of going to Freo to see what ships were in and what’s been unloaded. I don’t understand this government. They certainly don’t have my vote next election.
They sure do. It costs the owner about $7-10K to have those houses removed so it is much easier to chuck a free ad in one of those ad papers and have someone else worry about getting rid of it.
You should have plenty of old houses available to you in QLD! I wish I could get hold of an old queenslander but it would cost way too much to bring over to WA!!! Rats….
Steph.
Success is 1% inspiration and 99% perspiration.
Cremin and I have an Ezybank one with Woolies/commbank. It’s a fairly low int rate of 14 or 15% and you get 1 qantas frepuent flyer point per $. Plus the money you spend at woolies, you get 1 1/2 to 2 points per dollar.
We’ve only had it 6 months and have racked up 18,000 in the meanwhile. We make sure we pay it off each month and it’s only $30 a year fees.
Ummm… Oh internet banking is pretty swift. GEnerally 1-2 days to show up on account, but it you transfer money from a diff commbank account, it is effective on credit card immediately. That’s what I really like…
I’ve had ANZ before. wasn’t really happy with all the fees they slug you.
Cheers
Steph.Success is 1% inspiration and 99% perspiration.
