people cannot manage their money, why do you think we have the credit card debts we have?
Yack said:
`Why start with a house at $880k in Malvern, why not start in Oakleigh at $350k. Buy an investment property, then work towards the $800k Malvern place. It may take 5-10 yrs but at least you are not renting.´
Yack, as rzanmel said, it´s all about lifestyle… I live in the centre of the city, walk 15 minutes to work each day, and I´m surrounded by nice cafes and every possible convenience. Also, because of my `lifestyle´, I choose to live in areas which are very diverse. It keeps me safe. But if I wanted to buy into the area I live in, it would cost me abvout a million bucks- go figure, I rent.
And what was this someone said about not getting one´s hair done??? You are suggesting that I don´t get my mullet styled regularly?? shame on you! It´s very much the anita bell school of thought- don´t have a life so you can pay off your mortgage.
I agree with what people have been saying about life being exxy… friends of mine were paying $500 a week childcare for their two kids- the wife was a lawyer and the hubby a policy worker… they barely had a chance at getting into the outer areas of the inner west- although they did so eventually. [^]
Life in sydney is expensive, but paris is worse! 4.70 Euros for a coke! Next time I´ll bring along my own flask of cordial [:p]
kay henry
Yes, I have also read many of the books that state that the more we earn, the more we spend. But I also believe that there is also the other end of the spectrum where there simply isn’t any left to have those “little” luxuries, let alone save a cent. It is all spent on “existing” to live.
Les [
]Well Hello Kay
It was me that mentioned hair and nail polish! But because a friend of mine was always complaing about having no money, she bought cokes daily, junk food plus, had her hair foiled monthly, and false nails on a regular basis, now that is her choice, but she wondered why she had no money? Thats my point.
I dont call that lifestyle, I call it grooming.
As for Paris, well i dont like the place personally, and there are a few european places that are just as expensive. You want pokey motel rooms in Belgium and paris, thats what you get, pay for the loo too. (if you can figure out how to use the “tardis type’ machines)
It is true, the more we earn the more we spend.
I made choices to go without so I could have the lifestyle I wanted, its working for me….cheers
Guys I would suggest that a great book on real high net worth people, as opposed to what we perceive are high net worth people is “The Millionaire Next Door”. Its sequel, “the Millionaire Mind” is also very good. I found them at my local library.
I think its one of those books that you should read *before* something like Kyosaki or property/shares books.
EZ-Rent. The free tax and cashflow simulator for Australian property investors.
http://www.ez-rent.comelves [
]Yes, grooming is getting the mullet trimmed, but lifestyle for me is two things- cafes, restaurants and culture… plus, elves, because of my sexuality, i prefer not to live in a completely homophobic suburb- been there, done that, and it isn´t fun.
The way I figure it, to buy the kind of place I might like to live in sydney, it is gonna take more than saving on a few cokes.
I just visited paris, elves- hence the reference to it- most expensive place I have ever been to. My ex is living in an apartment there that would have market rent of $4000 euros per month- about $7000 $AUS- for a 2-bedroom place. She gets it paid by her employer though- lucky her. Now wouldn´t those rental yields be good to find!!!!! [^][
][:p]kay henry
Hey Kay Henry, not having a go at you per se, just making remarks about places.. I have bene to paris and europe, my family live in Japan, Italy and UK.
They own villas in Italy, but it is a few years since I was there.
If you want you can live in Katoomba, now that is pretty out there! Maybe more affordable.
what has sexuality got to do with it?
i dont worry about the homophobic types, im not one![
]Originally posted by Rubbachook:Chan$ – on an earlier post in this thread you say you rent. Didn’t you say in another thread that you bought your PPOR?
Why are you renting?
I bought PPOR back in June 2001, live there for 2 years moved out and currently renting.
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]Dear All,
I just would like to add regarding Renting Vs PPOR.
If you currently paying say $300 pw for your PPOR, but a very similar property, in the same location For Lease for $240 Per Week. Will you rent or live in PPOR?
For me I will rent because it will save me $60 per week. At the same time you can claim all the building, building write-off, ie. depreciation schedule done for your tax return. This will be add to my $60 per week saving. At the meantime, I can go out there buy one -ve and 2 +ve cash flow properties.
The other reason that I rent because I know for sure that I won’t be kick out from this place for as long as I want to stay. If you think differently and a bit of creative then you can alway find solutions to your problems.
Good luck to you all. May all those people who live in their PPOR as happy as those who Renting…
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]Heres how i do it:
I am 17 and get about $315 (it’s a traineeship) take home pay).
It takes about 3 mins to get to work, and i work in clayfield, which as brisbane siders know, one of the more expensive suburbs.
Rent is $80 pw (i live in a share house with 4 other people).
The food bill is usually no more than $30 a week, we eat well but don’t get to mant things that aren’t necessary ie a heap of junk food.
The rest of everything, including entertainment, bills and general expenses are made sure they only total about $50 pw.
So i can, and do save at least half of my take home pay, which is only about $315 (however this is sure to increase on April 18th, when i turn 18).I do 50 + hours a week in my job (real estate, learning all about it) and on top of that i program real estate software out of my job.
There is a way to do anything!
Check this site out for property software: http://au.geocities.com/screesoftware
elves- it´s all good :
Someone was discussing moving to a suburb that is less desirable than the one we wish to live in- so we can paz less rent, afford the PPOR etc… and I was responding that due to my ´lifestyle´or sexuality, I make sure I live where I am not gonna be killed. Most tenants want to feel safe in their ´hood.
kay henry
im confused by all this… [?]
Cheers,
sis>>If you want you can live in Katoomba, now that is pretty out there! Maybe more affordable.<<
Katoomba itself, a beautiful place but too many down and outs there. You go for a walk and you get accosted by someone looking for money.
Apart from the above reference to down and outs I think, Kay, that you would rather like it there.
Nearby suburbs are O.K. though, no people accosting you for money.
Pisces
LOL Kay, I agree with you though! [
]As for poor Katoomba, I should not have been so harsh! LOL. I lived in Katoomba for 30 years, I know where it was and how it has travelled. Both parents were business people, I did my own business there ….well several businesses actually. Gone are the days where you left your back and front door unlocked and the fly screen was mesh!
My Parents still live there and it is quite expensive both to buy and to rent. I have done both.
Now i have never been accosted in Katoomba for money, maybe I blend in too well? [
]I might add it used to be a nice town, a country type of place, but…….full of blow ins now!
AS for surrounding towns, lets see what the locals used to say;
Katoomba was the service town eg shops utilities etc
Leura was the North shore of the mts, expensive and where the rich had weekenders
Wentworthfalls was a town that was kinda missing in action
Bullaburra, no mans land
Lawson, again mid mts and a service town, changing socio economics
Hazlebrook, was called the Mt Druitt of the mts, woodford just got scrapped
Linden faulconbridge and Springwood, we were heading into more money again, closer to Penrith, more a major town, more expensive propertiesback up the mts, Medlow, always the health resort must visit place, a la Hydro Majestic (now a tourist rip off in my opinion)
Blackheath, more money, but a few years ago, “bleakheath”- cold, miserable and uninviting.
Mt Victoria, top of the mts, small quaint village.Now these have swung around as interest in the mts has grown, escaping sydney rat race, place to rest, rejevenate etc…good place for those with certain illnesses….to become calm and rested…
Katoomba wants to be the music and arts capital
Leura still is
Blackheath, expensive place and now considered the place to live, along with mt vic to some.
Lower mts, dont have much to do down there anymore, but still lots of housing.I did some demographical studies years ago for research, and mid mts was fastest growing area, though there are still a lot of lower income dwellers- or as some say dole bludgers up there, but thats the same everywhere yes? lol
I dont like what they did with the carrington, or the town, but in some respects it has improved, some nice artwork adorns buildings, and i dont mean graffiti
Best time to visit if you want a peak at ‘freak’ come hippy, come alternative….’winter magic festival’ june soltice…..busiest time fo the year for Katoomba
cheers
elves
>> …………., a la Hydro Majestic (now a tourist rip off in my opinion)<<
But have a look at the view Elves.
Pisces
>>Lawson, again mid mts and a service town<<
Lawson = Service centre ?
Yes, but where are the shops ?
Pisces
Hey guys come on, who needs shops?
Lawson has a hardware, pharmacy, tea and coffee shops, nursery, chuch, community hall, police and fire station, railway, real estate shops, op shop, used to have the best pie shop, takeaways…
oh yeah……..the PUB!HYDRO, yes Pieces, but the view was always there![
]
ANd you can get a load of the view from just about any point around the mts, and its free! I must say, preferred the days when it was white, from a plane (from the airstrip at medlow) to being in megalong valley looking up the mts, it always stood out.Carrington, I always knew I was near home when I saw the famous carrington chimney stack.(eyesore but history)
Myabe sometimes I dont like change, because change isnt always a good thing.
cheers
maybe we shold get back on topic…lol
sorry folks.Needless to say a lot of ppl up the mts also rent…a lot share accom, split costs, some stay at home as it is too expensive. a lot of younger people cant wait to move out to get a life elsewhere…..and the money to go with it.
I am sure that if you are young with no children renting is not a problem when you own investment properties, however when the partner comes along and a few anckle biters come out the pressure of living in your own home come to the front line.
After all it would not be a nice experience if you had a family and the land loard wanted to sell the property you are livimg in.
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