Guest kulashaker Posted January 8, 2008 Share Posted January 8, 2008 Hi All Sorry if this is covered somewhere else - I'm new to the forum. I wondered what the pros and cons were of renting as opposed to buying property in Aus (Perth). A post on another site mentioned that they thought they ought to have considered staying in rental rather than buying. Something to do with the interest from the cash from their UK sale was paying for the rent, and they didnt have to pay shire tax. Obviously you have to rent when you first arrive, but is anyone here in rental accomodation and doesn't see the need to buy for a good while, cos i just wondered what your thoughts were? It seems easier to buy than to sell a property so is it more about making that final committment to stay for good - ie knowing that you could go back to the UK easier or move to a different sub if you dont like it , rather than a financial thing? Link to comment Share on other sites More sharing options...
Guest dwaldron Posted January 8, 2008 Share Posted January 8, 2008 Well it tends to be a lot cheaper. We are paying $1,304 a month rent for a property that would be costing $2,500 or so in mortgage payments. As you point out, council tax/rates are not paid by tenants so there is a lot of good reasons to consider (or at least not be afraid of) renting. We're renting for 12 months and then looking around to buy as by then we should know what we are looking for and where we want to be. Remember that stamp duty can cost $20,000 on an average property purchase so it's far better to take your time and be sure of what you buy. The downside is the rental market is most places is pretty tight and of course house prices continue to increase exponentially. Link to comment Share on other sites More sharing options...
Guest Tori Posted January 8, 2008 Share Posted January 8, 2008 The trouble with renting and looking around for 1yr is that when you have 2 children age 8 and 9 you really want to get them into a school. So this puts looking around for a year very difficult. Any ideas?? I dont want to rush into things, i want my perfect house but i do have to think about my children. Link to comment Share on other sites More sharing options...
ErmintrudeMcMoo Posted January 9, 2008 Share Posted January 9, 2008 We did our homework (well as much as you can without being in the country) and rented in an area that (a) we thought we would like that suited our needs re schools etc and (b) could afford to buy in. I saw no point renting somewhere that I would unable to afford to buy, no matter how nice the rental was, it just wouldn`t have been right to uproot our daughter again. We have been in our rental for 6 months and we are buying a house not so far from where we are now (though it is in the next suburb it won`t change her school). The trouble with renting is that you have periodic inspections from the rental agents (understandable but inconvenient at times) and you don`t know if the owner may want to sell (my friend came home to find a for sale sign in her garden one day). The good thing about renting is that it`s relatively cheap, you only have contents insurance, gas, electric & some water to pay for, it also allows you to get a feel for the area because until you are living there you don`t know if it`s actually for you, sometimes you find that you don`t want what you thought you did because the reality can be so different. Link to comment Share on other sites More sharing options...
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