Yes I see what you mean Richard.  We are set up that way now with IPs but we were late starters and didnt even get into the game till our house in Oz was paid off  (living overseas for a few years back then)…..like I said , conservative 

my (conservative) view is that its generally best to reduce non deductible interest as much as possible as soon as possible 

I think what you are saying is basically true and is also true of paying down principal …. it becomes easier to do over time.   For me avoiding reducing long term interest costs is the more powerful option.

[/quote] sweeping generalisation re clearance rates, recent clearance rate in Sydney was about 48% and Melbourne 67% (where the original poster is talking about).  The only place I can find that  range to be correct is Brisbane.   I am looking at http://www.businessspectator.com.au/bs.nsf/Article/Auctions-still-in-the-doldrums-EZ22T?OpenDocument   and Real Estate Institute sites.   Is there another source I should be looking at?

maxxi hasnt been back yet to comment,  so far the only thing I can think of is that tax cuts may reduce wage demands therefore help reduce product input costs and contain inflation.   I only ever did economics 101 ,  so would be happy to learn more.

if you say where the reno is you may get some leads on this question

also need to describe the starting state of the bathroom before anyone can make sense of a $1000 budget.   $1000 would be enough if you are handy and the work is superficial (paint, some limited re-tiling, new shower screen, vanity, cistern) If you are demolishing the room and relocating plumbing and draining then you probably wont get close.

Hi

personally I wouldnt touch this,  too complex and remote.  The clincher for me is being interstate.  Its hard enough to pull a significant reno together when you can be on site every day or every few days.    Many other opportunities are out there.

PS:  I am a conservative old fart and my opinion should be viewed in that light

who was talking about prestige properties?   scamp is offering relationship advice and the original poster was looking at a slightly tired worst house in a good street

thats an interesting idea and one that takes a longer term view than is usual here.  Short term-ism is a fatal flaw in human design I think.  I wonder sometimes how we would approach things if we lived for 500 years and had to suffer the consequences of our actions…..politicians with a 3 year view would look laughable,  but somehow our society accepts it now. Gee I'm philosophical today…..must be the red wine.

we have just had a budget and it wasnt announced,  so sadly I doubt it for this year

I need to go to your school of concise-ness……….took me 20 lines to say the same thing in the end