stevemalbec
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Everything posted by stevemalbec
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To Karen-J. Before you do (borrow on the anticipated sale of your house), I'd recommend thinking very carefully about it if its your main asset. If the price falls, or if you can't sell it at all without a 'fire sale' you could be leaving yourself seriously exposed. Not a step to take lightly unless you have additional funds.
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Some people on this thread are so 'precious' I don't know how they'll cope in Australia. The aussies I know are a pretty straightforward bunch and don't expect to have to give an apology if they disagree with someone.
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Then don't make political comments!
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So whatever our opinions are we can never be judged on them? And I'd dispute your comment "'the powers that be' never listen to us mere mortals". Not always, but I think the latest Tory onslaught on welfare recipients shows that they do listen to their supporters, maybe only when it suits them, but to say they never listen is just hyperbole.
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Thanks, I'll easily make that, just wondering if it was OK to spend a couple of month out of the country every year.
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Is there any kind of minimum time spent in Australia required for those first 5 years?
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Any particular reasons why?
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If I recall correctly my police check in the UK was £40, and medical in Manchester around £260.
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Briefly, http://news.bbc.co.uk/2/hi/business/8568970.stm Judges at the European Court of Human Rights were the latest to declare that National Insurance contributions did not have an "exclusive link" to retirement pensions. "As non-residents, the applicants did not contribute to the UK economy, in particular, they paid no UK tax to offset the cost of any increase in the pension," a statement from the court said. The court said that it was hard to draw any genuine comparison with the position of pensioners living elsewhere.
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Thanks!
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I've just tried a few searches and didn't come up with anything, but can anyone tell me how to get the CPV 143 inserted into your passport before going over? Can't get through to the High Commission on the phone either. Thanks!
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To offer isn't illegal, only for agents to demand it. My sources say that agents don't like taking so much in advance as it involves them with a lot more work. Landlords not using agents are a different case altogether. If a prospective tenant offered me 6 months rent in advance for one of my properties I'd sign them up on the spot.
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There's no definite timescale, but check http://www.chireckles.com/cpv/tracker.php and click on 'Applications in progress'.
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That's a classy reply! I thought this was a forum to inform the members, so when someone gives out false information I think they should be told. Not my fault if you worded it wrong. And as I've just paid almost $38,000 for my second VAC on my CPV 143, I shall be there within weeks. Or are you saying that only people actually in Australia should be allowed to post? If so half the posters would be banned. You got it wrong, get over it.
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Care to share with us the names of the estate agents concerned? I'd be very interested. As far as I'm aware its illegal in every state for an agent to demand 6 month's rent upfront. Certainly that's the case in New South Wales. From http://www.tenants.org.au/publish/factsheet-02-starting-tenancy/index.php Rent in advance The landlord/agent or the tenancy agreement cannot require you to pay more than 2 weeks rent in advance (you may choose to pay more, however). They cannot demand further rent until it falls due and cannot ask for a post-dated cheque. And the laws for all states: http://www.rentalagreementsdiy.com.au/tenancy_laws_in_australia.php
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From what an real estate agent friend of my son tells me, they don't like this, its too much work for them. Best way to get a place is to offer $10 a week more on the asking price. That could be paid from the interest from the bank on the 6 months rent you don't pay upfront. I checked this on a landlord's forum and they confirmed it.
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In the early years of a mortgage the capital is paid off very slowly, and the savings from interest on the deposit, water rates, maintenance costs, will be more than that. In the long term I always think that buying is the better option financially, but in this market, I'm going to wait for a year or two.
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In the areas that I've been looking, a broad rule of thumb is that a property selling for $500K would be rented out for around $500 pw. So, if prices fall by 5% (which they have done in some areas over the last year), a $500k property would cost $475k. So, after paying $26K rent, you'd break even, but be better off with the interest on your deposit, no water rates or maintenance costs. Of course this kind of calculation only works in the current market which is in a correction mode. If prices were rising as they were over the last 10 years, I'd be buying asap. But I'll definitely be renting for the next year or so. On the other hand, having a young family or needing to live near a specific workplace would make it difficult to be so flexible.
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Out of interest, can you say where you are?
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As I've said before, putting your deposit into a good deposit account, not paying strata fees, water rates, maintenance costs etc, could easily offset the rent.
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I think people should take a look at realestate.com.au and domain.com.au for a realistic idea of asking prices. Of course all prices depend on location and size of property. I've been checking the market for the last couple of years around the northern beaches of Sydney anticipating my visa and I'd say that prices have definitely been leveling out if not declining slightly. Rents have come down a bit too. Other areas, I can't say, apart from friends who live in Queensland who say that prices have been falling at a rate. My advice is rent for a while before committing to a purchase. Know the area, and wait a while as prices have a way to go before they hit the bottom. Unless you don't mind taking a hit of 5-10% over the next year or so.
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Plus the interest on the deposit you've got in the bank, the savings from not paying building insurance, strata fees, maintenance etc, the difference could be negligible.
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I'm a little confused.. I'd been thinking that the amount in AU$ would stay the same for the year, but the amount payable in local currency would be set twice a year to reflect changes in the exchange rate. For example, if the exchange rate improves (i.e. more AU$ for each pound - I've seen $1.60 today as opposed to $1.48 a few weeks ago) it would be better to pay after the next adjustment. Or maybe I've totally misunderstood this.... Another question, once the visa has been granted, is there a time limit within which the payment must be made?
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Thanks for this. I'm in the UK at the moment so I could pay here.
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Thanks! I hope to be paying mine shortly, the way things are going I hope I can pay it after the july change.