flag of convenience Posted August 27, 2014 Share Posted August 27, 2014 All the more reason not to begrudge them getting their fair share inheritance from their parents. No one begrudges a fair share. In fact I know folk that have downsized and gave both kids their share now while still alive. I'm not entirely sure but understand it was around $75,000 each. Hardly a fortune but will get them on the ladder as both kids are in work. Helping and building an idle life for them is two different matters. The old saying the first generation makes the money while the second spends it. Spoil your kids at your peril. The main onus must be the return to normality in the housing preferably after a correction. It is suggested to be 25% to 30% overpriced, which would then of course return affordability to the kids your concerned about. Link to comment Share on other sites More sharing options...
flag of convenience Posted August 27, 2014 Share Posted August 27, 2014 Comes back to whether you are just interested in property as an investment or more of a place to live, settle, enjoy, bring up a family, feel at home. Exactly. The onus on wealth creation through the flipping of houses does a lot of harm to Australia. Link to comment Share on other sites More sharing options...
flag of convenience Posted August 27, 2014 Share Posted August 27, 2014 Son age 39 bought first house last year funnily enough at almost the price you mentioned. We also lived through the horrendously high mortgage rate in the UK, and survived but it was tough. also we still have a mortgage and are well into retirement, as we only moved to Australia 11 years ago, but to be honest so what as long as you can afford it. Otherwise you would probably sell and downsize. Thing being of course with loans available to most anyone breathing, the true nature of the farce will only become apparent with rising interest rates. You will recall UK no doubt, well London anyway where so many got burned in the 80's. WE are in my opinion in a far more precarious position in Australia with banks heavily leveraged towards real estate, the populace happily taken on massive debt to fund unproductive housing in an ever expanding bubble market. I'd be holding on tight my money at least in the WA context waiting for some bargains. The market is certainly of the boil. I see that with the rental in my area as well. Demand dropped right off. Eighteen months age enormous completion all evaporated. Link to comment Share on other sites More sharing options...
flag of convenience Posted August 27, 2014 Share Posted August 27, 2014 Nothing wrong with renting your own place, when you consider the cost of mortgages and upkeep of the property you are probably bet off investing the money elsewhere in the long run in many areas. Better off renting at the moment. You should possibly be able to get reduced rent. What is wrong with renting is the lack of tenants rights in Australia. I feel that needs to be modified in order to suit today's economic climate. Going into massive debt over real estate is little short of crazy. Link to comment Share on other sites More sharing options...
Angel77 Posted August 27, 2014 Share Posted August 27, 2014 We were exactly the same & spent over 5 year deciding & finally went for it with only a couple of months on our visa. I was really apprehensive & swore I was going for a year only. Our life isn't a million miles to what it was but slightly better . Week days are similar, hubby works I do school run, etc, but weekends are way better. Iwas so worried about meeting friends but have made heaps . It's so easy to meet people here as so many are in the same situation & everyone is so friendly. I'd say go for it , I'm so pleased we did & 18 month in are building our own home. Link to comment Share on other sites More sharing options...
Keith and Linda Posted August 27, 2014 Share Posted August 27, 2014 If a house is purely a means of profit and not a place of pride in the space you live, then so be it. So you change tack yet again flag! so it's no longer the family home passed on to your children but now just about investment property, but profit an investment property is subject to tax (in Aus) Link to comment Share on other sites More sharing options...
Keith and Linda Posted August 27, 2014 Share Posted August 27, 2014 Better off renting at the moment. You should possibly be able to get reduced rent. What is wrong with renting is the lack of tenants rights in Australia. I feel that needs to be modified in order to suit today's economic climate. Going into massive debt over real estate is little short of crazy. More financial advice!! but have I got this right...............you have gone on about the massive profits made on houses, but now its the massive debts:confused: Link to comment Share on other sites More sharing options...
Guest rikimilton Posted August 28, 2014 Share Posted August 28, 2014 Most people who come to Australia, make a success of it, but you need to think positively. So you change tack yet again flag! so it's no longer the family home passed on to your children but now just about investment property, but profit an investment property is subject to tax (in Aus), What is wrong with renting is the lack of tenants rights in Australia. Link to comment Share on other sites More sharing options...
jonnyraceway Posted August 28, 2014 Share Posted August 28, 2014 Most people who come to Australia, make a success of it, but you need to think positively. So you change tack yet again flag! so it's no longer the family home passed on to your children but now just about investment property, but profit an investment property is subject to tax (in Aus), What is wrong with renting is the lack of tenants rights in Australia. Flag is just a troll - he will say anything just to stir it up. Shame really as he used to be worth listening to but is rapidly disappearing up his own bottom.. Link to comment Share on other sites More sharing options...
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