lillystar26 Posted June 27, 2012 Share Posted June 27, 2012 Hi, we are hoping to relocate to Australia after many years of discussions. I have 3 children under 5. I would love to move into a 4/5 bedroom house with a pool and not far from the beach (i am also realistic and know we will have to compromise) but i was wondering as we won't have much of a deposit to eventually put down on a house, would we be better off renting a nice house and enjoying our life or save really hard to eventually buy a house that maybe no where as big or nice as we'd like just to get on the property market?? We have a mortgage here and we struggle to get by constantly and never have any spare money. I just want to be able to go out once in a while and not have to think about renavating a house up (web have had to gut the last two houses) and with 3 kids its very hard and takes a lot of time that should be spent with them.....sorry ive babbled a bit... So would just like your opinions please Vicky Link to comment Share on other sites More sharing options...
Guest GeorgeD Posted June 27, 2012 Share Posted June 27, 2012 Lots of people rent in Oz, and there are lots of options out there for you. It's perfectly do-able. It's your choice! Remember and make sure you are putting money away in savings if you are renting. One of the benefits when you finally pay off your mortgage is that you have a nice big asset under your feet. Don't spend evey penny you earn on a rental. Sometimes its good to know that if the roof leaks or a pipe bursts that it isn't your bill, it's the landlord's! Assuming of course the landlord gets round to fixing it, but most are Ok at doing it as it's tax deductable. Link to comment Share on other sites More sharing options...
calNgary Posted June 27, 2012 Share Posted June 27, 2012 Renting was great , for a while,, it allowed us time to look at new areas and find somewhere we liked. The down side was in never quite felt like home. You couldnt just bang a picture up or decorate to your tase, after a while i just wanted somewhere i could put 'my stamp' on. There seems to be no rush here on owning your own home, loadsssss of familys rent. I think it would boil down to you doing some sums and seeing what will work for you not just now, but in the long term and yet still allow you some spending money each month. Cal x Link to comment Share on other sites More sharing options...
VERYSTORMY Posted June 27, 2012 Share Posted June 27, 2012 Also, bear in mind, that a 4/5 bedroom house with pool near the beach is going to be very expensive. Particularly in Perth itself. Certainly plus $1 million. Link to comment Share on other sites More sharing options...
fairystar32 Posted June 27, 2012 Share Posted June 27, 2012 We owned in the UK but lost all our deposit due to a housing slump and auction We now rent. Having said that, we rent a huge 4 bed 3 bathroom with a spa and it would be totally unaffordable for us to buy, even with a deposit. we decided a few yrs ago we would rather rent a nice big house for us all whils't we need it, than try to push ourselves to buy a house, which would not be big enough anyway. We are looking to try to save and buy a small place when the kids are all grown up. We like renting, can move when we want, building and structural maintenance is nothing to do with us and if something breaks, we get it fixed. We do not pay rates or water either. Downsides is we cannot get a animal without permission, cannot change the insides, it isnt ours and they can sell it or not renew your lease at any time.. oh and inspections!! overall though, we are pretty happy renting Link to comment Share on other sites More sharing options...
Guest guest17301 Posted June 27, 2012 Share Posted June 27, 2012 Its not necessarily super expensive to live coastal in Perth...now I can only comment on northern suburbs but there are some affordable houses in areas such as Butler,Quinns rocks, Clarkson, Yanchep etc, obviously the further out from the city you go the cheaper the property...depends on your needs. In general Id say owning your own home is very achievable here....there are home and land packages available for people earning over 55k...obviously that will be a smaller basic home but gives an idea of how affordable owning a home can be. Banks will offer mortgages to people with a 5% deposit though you will pay a premium called lenders insurance, designed to protect the bank aganst default and no benefit to the buyer. Given the fact that rents are quite expensive now there cant be much difference between paying for a nice rental and paying mortgage payments on a modest 4 bed home in the 400k mark Link to comment Share on other sites More sharing options...
fairystar32 Posted June 28, 2012 Share Posted June 28, 2012 when we looked at the calculators it will cost us a LOT more to buy. This house is worth around $500 -600k we rent it for less than what it would take to borrow $350 K and get a small 3 bedroom we are a family of 6 with a 18 yr old and another teen. Mixed girl in the middle of boys so we need 4 bedrooms that means $400- 450 k + in our area for a basic house and lot more monthly expense than what we pay now, as well as finding money for all the fees, insurances etc... and the deposit also rates and water bills and maintenance then come into effect. I would like our own home again only because I hate inspections and would like a dog Its not necessarily super expensive to live coastal in Perth...now I can only comment on northern suburbs but there are some affordable houses in areas such as Butler,Quinns rocks, Clarkson, Yanchep etc, obviously the further out from the city you go the cheaper the property...depends on your needs. In general Id say owning your own home is very achievable here....there are home and land packages available for people earning over 55k...obviously that will be a smaller basic home but gives an idea of how affordable owning a home can be. Banks will offer mortgages to people with a 5% deposit though you will pay a premium called lenders insurance, designed to protect the bank aganst default and no benefit to the buyer. Given the fact that rents are quite expensive now there cant be much difference between paying for a nice rental and paying mortgage payments on a modest 4 bed home in the 400k mark Link to comment Share on other sites More sharing options...
Guest guest71686 Posted June 28, 2012 Share Posted June 28, 2012 i'd say you can always live in more luxury renting rather than buying. Then you get asked to leave when they sell up, hence why i buy Link to comment Share on other sites More sharing options...
RockDr Posted June 28, 2012 Share Posted June 28, 2012 Unless you have a really big deposit (and I mean really big, we've got 50% and still better off financially to rent), then the only benefit in buying is being able to put pictures up, and not having the possibility of an enforced move with plenty of notice forced upon you. We're still debating if/when to buy, with the added problem of we're pretty sure we'll be moving in a few years, so if we buy here, would we sell or rent it out, and all the hassles that come with either option. Link to comment Share on other sites More sharing options...
Paul1Perth Posted June 28, 2012 Share Posted June 28, 2012 Hi, we are hoping to relocate to Australia after many years of discussions. I have 3 children under 5. I would love to move into a 4/5 bedroom house with a pool and not far from the beach (i am also realistic and know we will have to compromise) but i was wondering as we won't have much of a deposit to eventually put down on a house, would we be better off renting a nice house and enjoying our life or save really hard to eventually buy a house that maybe no where as big or nice as we'd like just to get on the property market?? We have a mortgage here and we struggle to get by constantly and never have any spare money. I just want to be able to go out once in a while and not have to think about renavating a house up (web have had to gut the last two houses) and with 3 kids its very hard and takes a lot of time that should be spent with them.....sorry ive babbled a bit... So would just like your opinions please Vicky We have friends who have 5 kids and they have rented a nice house by the beach since they have been here, about 6 years I think. They dream of one day being able to buy the house they are renting but it's been great for them. The kids can walk across the road to get to the beach and the 4 boys are all good surfers, so keep themselves entertained for free. I don't think they are saving a lot and don't seem any closer to buying a house but they go away a lot, camping and 4 wheel driving. They certainly seem to have a lot more spare cash than we do with a mortgage, or maybe they are just a lot more in debt, who knows these days. I guess it's personal choice, you can certainly rent somewhere nice near the beach, that you probably wouldn't be able to get a mortgage for. Just another option and a personal choice. Just saw another post about having dogs. They have a dog too so not every rental doesn't allow it. They have had to move once and got a house round the corner whilst the one they are in was renovated by the owner. As soon as it was finished they moved back in as they like the position so much. The current one is 5 bedrooms with a pool, one street back from the beach. The one they moved to temporarily was right on the West Coast Highway, similar size, similar price but they said it was a bit noisy due to the traffic. We went round for barbies a couple of times and didn't notice much noise to be honest but the street they are in now is much quieter. I guess that's another plus for renting. If you realise you've made a mistake on the area after 6 months or so, or you have bad neighbours move in, you can move. Link to comment Share on other sites More sharing options...
rikyuu Posted June 28, 2012 Share Posted June 28, 2012 I think most people would love a 4-5 bed house with a pool by the beach, but you're looking at $1million plus. Renting similar would be about $1000-1500pw, unless you are more than 300km from the nearest civilisation, then you may get it cheaper. Check out http://www.realeastate.com.au Renting gives you more flexibility and if house prices aren't increasing, then it's currently cheaper (ie. less than the mortgage, maintainance, rates would be for an equivalent puchased house). The whole system is geared towards making you think there's a massive housing shortage, by doing group viewing etc, so you think you're in competition with lots of people and will pay any money to rent/buy the property, which seems to work. Letting agents (world wide) are useless, contracts tend to be 12 months, you pay heavily to finish early and can't stay longer if they ask you to leave at then end, which means finding somewhere else as close to the leaving date as possible, but you can't really apply anywhere else more than 2 weeks in advance as they're not interested, yet because it's not first come first served, they wait for several applications before reviewing them with the landlord which can take 2 weeks plus, then you're only really meant to appy for one as the small print actually says you agree to rent the property if it's offered to you, although actually it also says even if offered it, they don't have to give it to you on the agreed date, so you can quite easily get into a real pickle trying to find somewhere and getting the application accepted around the date you are moving out of another place. It's designed to be a real pain and despite the small print, you really have to apply for more than one, because you can't wait 1-2 weeks to find you've been rejected on your only application, as you'll then have nowhere to live. I've also heard about people turning up at a property with all their stuff on moving in day, only to be told it's not available for another week (the other bit of the contract you have to agree to). It's all geared in favour of the landlord and tennants are treated like low lifes who don't deserve to rent their precious property. I haven't bought here yet (and probably never will at this rate), but my friend is buying a new build and the process has been hell for him, fortunately he's living with mummy and daddy, so time doesn't matter, but he's had to see the solicitor, builders, bank etc many many times. Even the bank forgets to pay the money for the various stages of the build, plus many other issues. Link to comment Share on other sites More sharing options...
nicolac34 Posted June 28, 2012 Share Posted June 28, 2012 We have friends who have 5 kids and they have rented a nice house by the beach since they have been here, about 6 years I think. They dream of one day being able to buy the house they are renting but it's been great for them. The kids can walk across the road to get to the beach and the 4 boys are all good surfers, so keep themselves entertained for free. I don't think they are saving a lot and don't seem any closer to buying a house but they go away a lot, camping and 4 wheel driving. They certainly seem to have a lot more spare cash than we do with a mortgage, or maybe they are just a lot more in debt, who knows these days. I guess it's personal choice, you can certainly rent somewhere nice near the beach, that you probably wouldn't be able to get a mortgage for. Just another option and a personal choice. Just saw another post about having dogs. They have a dog too so not every rental doesn't allow it. They have had to move once and got a house round the corner whilst the one they are in was renovated by the owner. As soon as it was finished they moved back in as they like the position so much. The current one is 5 bedrooms with a pool, one street back from the beach. The one they moved to temporarily was right on the West Coast Highway, similar size, similar price but they said it was a bit noisy due to the traffic. We went round for barbies a couple of times and didn't notice much noise to be honest but the street they are in now is much quieter. I guess that's another plus for renting. If you realise you've made a mistake on the area after 6 months or so, or you have bad neighbours move in, you can move. Do you know how much they pay to rent that? I'm in the same dilema at the moment, renting vs buying. Hubby is in two minds and I think even more swayed towards renting, but I want our own place and to not have to deal with letting agents anymore. Problem is the place we are in now is too small and dark and dingy, so the choice is to pay more and rent an nicer place or figure out whether we can afford to buy something. Again the other issue is we can't afford to buy where we want to live. We can't really afford more than $500k and for this you get a small run down villa (3 bed) within 6km of the City (Perth). Where we want to live (and where we live now) costs upwards of $850k for a 3 bed house, similar for some of the new build two bedroom apartments. If we moved and rented a bigger place we'd be going from $450 a week to around $800 a week - which seems a lot of money in rent. So, we continue to go round in circles! Link to comment Share on other sites More sharing options...
Paul1Perth Posted June 28, 2012 Share Posted June 28, 2012 Do you know how much they pay to rent that? I'm in the same dilema at the moment, renting vs buying. Hubby is in two minds and I think even more swayed towards renting, but I want our own place and to not have to deal with letting agents anymore. Problem is the place we are in now is too small and dark and dingy, so the choice is to pay more and rent an nicer place or figure out whether we can afford to buy something. Again the other issue is we can't afford to buy where we want to live. We can't really afford more than $500k and for this you get a small run down villa (3 bed) within 6km of the City (Perth). Where we want to live (and where we live now) costs upwards of $850k for a 3 bed house, similar for some of the new build two bedroom apartments. If we moved and rented a bigger place we'd be going from $450 a week to around $800 a week - which seems a lot of money in rent. So, we continue to go round in circles! Sorry, don't know how much they pay but the lady doesn't work and the guy is self employed in installing aircon. A business he started since he's been here. He's done well really, I don't think he knew anything about aircon before he came, they used to run a pub in the UK. He's knocking work back now as he has so much on. We don't know how they manage really as they always seem to be going away somewhere, much better house than we are paying the mortgage on and they have the kids to pay for. 3 of them have left school though now. There are a few places like that for rent as we are about 30Km North of Perth, in a lovely suburb. Only 10 mins away from Joondalup. If you want to be nearer Perth though, say City beach or Cottesloe you would pay loads more for an equivalent house. If you moved another 10Km up the road, say Mindarie, I would guess the rents for a pretty swish house would be pretty reasonable. Link to comment Share on other sites More sharing options...
nicolac34 Posted June 28, 2012 Share Posted June 28, 2012 There are a few places like that for rent as we are about 30Km North of Perth, in a lovely suburb. Only 10 mins away from Joondalup. If you want to be nearer Perth though, say City beach or Cottesloe you would pay loads more for an equivalent house. If you moved another 10Km up the road, say Mindarie, I would guess the rents for a pretty swish house would be pretty reasonable. That's one of the other issues we seem to be fighting with. We have it pretty easy now with a door to door commute (on the bus) of 15 minutes, and we can walk into Subiaco and have all the shops & restaurants on our doorstep. We have looked further out of Perth, but can't get away from that 'suburbia' feeling, where you have to drive to everything and the commute would be much longer. I have a feeling we will just stay where we are as everything else seems like a major compromise. And I guess until we actually can't fit anything else in our flat (in terms of stuff and people!) then it's not a big issue. Link to comment Share on other sites More sharing options...
Paul1Perth Posted June 28, 2012 Share Posted June 28, 2012 Sounds like you are in a nice place, must be nice to be able to walk into Subi. If you don't have kids and prefer a flat and being close to the City not much point in renting a big house. Only problem with the nice areas, close to the City is you have to pay extra for the rent.. ah well. Link to comment Share on other sites More sharing options...
Guest JK2510 Posted June 28, 2012 Share Posted June 28, 2012 We will be renting for a while....we could only afford a 5% deposit.....repayments on a $500k around $750-$800 pw...plus we would have shire and water rates. ATM we have a nice 4x2 not in my fave area but with pets and an excellant landlord and the Perth rental market we will stay here for a while. I think buying would stretch us to a point where we would be scrapping for money...wouldn't have money for ice creams...the odd day out etc....spending an arvo in little creatures enjoying what Ozzie life has to offer us....:swoon: Link to comment Share on other sites More sharing options...
Paul1Perth Posted June 28, 2012 Share Posted June 28, 2012 We will be renting for a while....we could only afford a 5% deposit.....repayments on a $500k around $750-$800 pw...plus we would have shire and water rates. ATM we have a nice 4x2 not in my fave area but with pets and an excellant landlord and the Perth rental market we will stay here for a while.I think buying would stretch us to a point where we would be scrapping for money...wouldn't have money for ice creams...the odd day out etc....spending an arvo in little creatures enjoying what Ozzie life has to offer us....:swoon: Totally agree. What's the point in living somewhere really nice and not having enough money to enjoy it. I've met loads of people that have assumed we have paid our mortgage off as we've had the house 20 years. We don't owe loads and could probably have paid it off a lot quicker but we wanted to be able to go away if we wanted and have a bit of spare cash if we want to go out for a meal or a drink. Link to comment Share on other sites More sharing options...
Guest JK2510 Posted June 28, 2012 Share Posted June 28, 2012 Well said....yes it's all very well in having a lovely house etc....but if your scrapped up to your eyeballs in debt it would be a very sad life! Im certainly not happy about renting but tough it's all sacrifices that were made when we decided to make the move....were lucky we're still youngish and well there is always the lotto on Saturday! :laugh: Link to comment Share on other sites More sharing options...
lillystar26 Posted July 3, 2012 Author Share Posted July 3, 2012 We owned in the UK but lost all our deposit due to a housing slump and auction We now rent. Having said that, we rent a huge 4 bed 3 bathroom with a spa and it would be totally unaffordable for us to buy, even with a deposit. we decided a few yrs ago we would rather rent a nice big house for us all whils't we need it, than try to push ourselves to buy a house, which would not be big enough anyway. We are looking to try to save and buy a small place when the kids are all grown up. We like renting, can move when we want, building and structural maintenance is nothing to do with us and if something breaks, we get it fixed. We do not pay rates or water either. Downsides is we cannot get a animal without permission, cannot change the insides, it isnt ours and they can sell it or not renew your lease at any time.. oh and inspections!! overall though, we are pretty happy renting Thanks everyone... you've kind of said what ive been thinking..... Fairystar32 - you situation is almost exactly like ours.... I am thinking that I would rather rent and be able to enjoy life than skrimp and save every penny just to "be able to put pictures up" as someone else said. I would like to buy one day but after struggling financially for the last few years and barely having a day out ect... I just want to enjoy life with the kids whilst they are still young Vicky Link to comment Share on other sites More sharing options...
Guest GeorgeD Posted July 3, 2012 Share Posted July 3, 2012 Someone mentioned earlier that everyone wants to buy in Oz and there is a stigma to renting. i really haven't found that to be the case. Most of my work colleagues rent, including the management. People rent for all sorts of reasons. I think renting when you first move over is a wise move to make sure the country is for you, then the city and suburb too. Don't tie yourself down too quickly. It's easy to work out budgets from overseas and then when you land you realise your outgoings are wildly different from what you were expecting, so be careful not to rush in to buying something you can't afford. The cost of buying and selling a house is actually quite high here. Yes, there are discounts for this, that the next thing, but it is still expensive. Include Stamp duty, Mortgage loan insurance (can't remember what it's called) if you have less than a 20% mortgage, legal fees, building & pest inspections etc. The fees on buying our house last year for $515K were around 30 from memory. If we managed to sell it today for the same (and we won't due to drops in the market) then we would be paying the agent $15K to sell it plus legal fees, etc. So basically, the cost of carrying out a transaction is quite high. If you are likely to have itchy feet and like to move, then renting really is a safer choice! Link to comment Share on other sites More sharing options...
Guest brianrey Posted July 6, 2012 Share Posted July 6, 2012 When we discuss about the renting vs buying home. Everyone know that buying home is better than live in rent home. You every month pay the rent on the other hand if you buying your own home you never pay any rent it your own home, buying own home feeling good for any one. People see the dreams they one day they have own home. If you want to complete your own home the los angeles property management help you to buying own home. Link to comment Share on other sites More sharing options...
moirclan Posted July 6, 2012 Share Posted July 6, 2012 when i lived in sydney property was expensive near the city , so i knew quite a few people who baught property in the out skirts [ newcastle etc and rented near the city , it got them on the property ladder , they got the mortgage with tax deductions , and it was available for later on in ;life for them to move into for some financial security Link to comment Share on other sites More sharing options...
NickyNook Posted July 6, 2012 Share Posted July 6, 2012 If you want to complete your own home the los angeles property management help you to buying own home. I want to complete my own home. I live in Sydney - just up the road from Los Angeles. How can you help me? Link to comment Share on other sites More sharing options...
Rupert Posted July 8, 2012 Share Posted July 8, 2012 Hi, we are hoping to relocate to Australia after many years of discussions. I have 3 children under 5. I would love to move into a 4/5 bedroom house with a pool and not far from the beach (i am also realistic and know we will have to compromise) but i was wondering as we won't have much of a deposit to eventually put down on a house, would we be better off renting a nice house and enjoying our life or save really hard to eventually buy a house that maybe no where as big or nice as we'd like just to get on the property market?? We have a mortgage here and we struggle to get by constantly and never have any spare money. I just want to be able to go out once in a while and not have to think about renavating a house up (web have had to gut the last two houses) and with 3 kids its very hard and takes a lot of time that should be spent with them.....sorry ive babbled a bit... So would just like your opinions please Vicky I think a 4/5 bedroomed house near the beach is pretty unrealistic if you don't have much of a deposit. We have a 3 bedroom house near the beach, it would cost over $1.5m to buy (so well out of our reach!) of course this is Sydney so a lot more expensive than Perth as the rest of the posts seem to suggest you are looking at. We are just enjoying living here, I would like to have my own place one day though but may take a while to save up the deposit although we have made a start. Link to comment Share on other sites More sharing options...
Paul1Perth Posted July 10, 2012 Share Posted July 10, 2012 I think a 4/5 bedroomed house near the beach is pretty unrealistic if you don't have much of a deposit. We have a 3 bedroom house near the beach, it would cost over $1.5m to buy (so well out of our reach!) of course this is Sydney so a lot more expensive than Perth as the rest of the posts seem to suggest you are looking at. We are just enjoying living here, I would like to have my own place one day though but may take a while to save up the deposit although we have made a start. You are right with the Perth being cheaper quote, even though the press were making out that Perth had caught up. We own a 4 bed house on quit a big plot, close to a glorious beach, in a nice suburb and about 30Km North of Perth. Even in the height of the boom, about 4 years ago, it got to be worth about $800,000 but people around us were struggling to sell at that price. Since then the prices have dropped back a lot and I would guess it's worth around $700,000 tops. You can buy a decent 3 bed, 1 bath with 2 car carport for $495,000, I just checked on realstate.com.au. Link to comment Share on other sites More sharing options...
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