flag of convenience Posted March 11, 2016 Share Posted March 11, 2016 My SIL owns two rental properties in the south of England. She also lets the tenants hang pictures and one of the tenants asked if she could paint a couple of rooms so SIL paid for the paint etc and let her do what she wanted. Same here but across The Channel. One apartment the tenant has even installed own kitchen, which he will likely remove on vacating. Quote Link to comment Share on other sites More sharing options...
paisleylass Posted March 11, 2016 Share Posted March 11, 2016 (edited) For the sake of peace, it's the multi-property portfolio schemes and the tax breaks that upset me. Lenders can do what they like to some extent, but the ATO needs to rein in negative gearing. Regulations in Australia make it more attractive to be a landlord, in terms of making tenants accountable for damage, neglect and non-payment. I fully agree with that, and wish we'd had so much protection when we were reluctant UK landlords. Edited March 11, 2016 by paisleylass Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted March 11, 2016 Share Posted March 11, 2016 My plan is to have loads of holidays later There is often never a later. We have loads of holidays now and have done so over the past dozen or more years. Four months off as an example next year. Rule is don't wait too long. Quote Link to comment Share on other sites More sharing options...
Guest Posted March 11, 2016 Share Posted March 11, 2016 SE QLD is like being on holiday all the time :wink: Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted March 11, 2016 Share Posted March 11, 2016 I know about negative gearing but flags claim that he is subsidizing the purchase is based solely on the assumption that negative gearing will actually be used and that is so so wrong of an across the board assumption. I pay tax on one of my properties, my other property is a short term investment until I move in it as my retirement home, my tax breaks on this are less than the tax I pay on the other. And I will be liable to capitol gains tax when I sell the former investment property, the tax break I ill get on that will be solely that I will not be in the workforce when that sells. No it doesn't majority of those with multiple NG properties bare minted and not something I wish to subsidise. Other countries do fine without NG as an incentive. It is not about you but an inept tax policy that does little for the nation besides eating up unproductive money. In fact it does a lot of harm and should be scrapped. Quote Link to comment Share on other sites More sharing options...
paisleylass Posted March 11, 2016 Share Posted March 11, 2016 There is often never a later. We have loads of holidays now and have done so over the past dozen or more years. Four months off as an example next year. Rule is don't wait too long. That's a great point, and been a theme with us to some extent since we suddenly lost my younger brother. Life's too short. However! My aim is to make home life *like* a holiday, hence the separate fund for luxury(ish) home improvements. Even here at the rental, I love the pool so much that it's taken the edge off holidays! Except in winter :cute: Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted March 11, 2016 Share Posted March 11, 2016 Sorry my mistake, I must not know what I am talking about as my sacrifices could not have been great enough!PS. It's Millstones by the way, milestones tell you where to go! You may explain the enormity of your sacrifices in a time of easy debt and rising prices. A stroke of luck which may well enrich some but enslave a far greater number. Remember one can just 'walk away' in Australia. PS Forget the language lesson as don't expect you know many. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted March 11, 2016 Share Posted March 11, 2016 That's a great point, and been a theme with us to some extent since we suddenly lost my younger brother. Life's too short. However! My aim is to make home life *like* a holiday, hence the separate fund for luxury(ish) home improvements. Even here at the rental, I love the pool so much that it's taken the edge off holidays! Except in winter :cute: Life is short and not only death but illness or incapacity can strike those around at anytime. Always do these things when fit and in reasonable health. I can do it posh or rough it as a backpacker as well as having done a number of cruisers. Every cruise we have been on there has been at least one death. The most was four. Best advice I think, is don't say when I retire I'll do such and such. Hence the garbage around housing and going into massive debt to banks, which will likely influence a lot of life outcomes, travel being one, astounds me why so many are so willing to put themselves in such situations. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted March 11, 2016 Share Posted March 11, 2016 It is just jealousy Keith. As soon as they pay off their own home they would do the same thing as you in a flash. Not sure who'd be jealous. Of course those with massive mortgages feel stumped but then again those with wildly inflated housing in Sydney and all other points for that matter will likely feel gutted come the correction. Only a few win the game of money for nothing. Probably one so many houses in Perth are on the market in recent times. Cashing in on the astronomical prices while the sun still shines. Quote Link to comment Share on other sites More sharing options...
paisleylass Posted March 11, 2016 Share Posted March 11, 2016 Life is short and not only death but illness or incapacity can strike those around at anytime. Always do these things when fit and in reasonable health. I can do it posh or rough it as a backpacker as well as having done a number of cruisers. Every cruise we have been on there has been at least one death. The most was four. Best advice I think, is don't say when I retire I'll do such and such. Hence the garbage around housing and going into massive debt to banks, which will likely influence a lot of life outcomes, travel being one, astounds me why so many are so willing to put themselves in such situations. I'll be honest, we will limit our borrowing to what we think we can afford (far less than online calculators say!), and overpay as much as possible. Make hay while the sun shines. I never think of retirement, I had a massive health scare in my early 20s and feel lucky to have reached 40s and be in pretty good health. However am looking forward to early access to long service leave, we get 70% after 7 years, woo hoo! Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted March 11, 2016 Share Posted March 11, 2016 How would you be subsidise the purchase flag? I subsidise your quest for home ownership and to make gains having an investment property through NG. Quote Link to comment Share on other sites More sharing options...
starlight7 Posted March 11, 2016 Share Posted March 11, 2016 median prices for Melbourne suburbs http://www.reiv.com.au/property-data/median-prices/median-house-prices Still going up - especially outer areas. Can't remember a time in the last 40+ years that they went down but sometimes they stand still. Always a good investment Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted March 11, 2016 Share Posted March 11, 2016 I'll be honest, we will limit our borrowing to what we think we can afford (far less than online calculators say!), and overpay as much as possible. Make hay while the sun shines. I never think of retirement, I had a massive health scare in my early 20s and feel lucky to have reached 40s and be in pretty good health. However am looking forward to early access to long service leave, we get 70% after 7 years, woo hoo! Long service leave is a great asset for those working in Australia. I do wonder how long it will be maintained. Good policy going under what on line calculators tell you. Remember a house is never yours until the bank loan has been paid. Come unemployment/illness/divorce it is very easy to lose everything. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted March 11, 2016 Share Posted March 11, 2016 median prices for Melbourne suburbshttp://www.reiv.com.au/property-data/median-prices/median-house-prices Still going up - especially outer areas. Can't remember a time in the last 40+ years that they went down but sometimes they stand still. Always a good investment The believers will never lose the faith regardless of the obvious insanity and ill affordability. It is known as the Aussie religion. I'm afraid while blind faith does have a place in the scheme of things it is can be a hindrance to overall good sense. Melbourne will likely have more to run though with it being the growth state but it will come. Prices have never been so out of whack with wages and outer suburbs for now ..but really who would live in such a place without the necessity? Quote Link to comment Share on other sites More sharing options...
paisleylass Posted March 11, 2016 Share Posted March 11, 2016 Long service leave is a great asset for those working in Australia. I do wonder how long it will be maintained. Good policy going under what on line calculators tell you. Remember a house is never yours until the bank loan has been paid. Come unemployment/illness/divorce it is very easy to lose everything. We're sticking with the UK rule of thumb with the multiplier! We seem to be eligible for more because we have no children and no car (work vehicle only), which is great if job security is realistic, but we have both seen scary dismissals and redundancies. Given Australia's fragile economy and crazy political whims, it'd be good to make sure one of our (equal sized) salaries pay the mortgage and bills, with a modest food budget also! Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted March 11, 2016 Share Posted March 11, 2016 I classed myself as a have not once but now, by the power of personal sacrifices and some prudent decisions, I am a have, so I now become a baddie for being one of the haves, so would every other have not also be a baddie when they become a haves because they and I have helped put the price of housing up? I don't class you as anything. I just don't think the market and time you invested had anything to do with anything than the possible good fortune you participated. It could have gone the other way, easily without government and RBA intervention and you'd be drumming to a very different tune. What is shockingly bad is nothing your little contribution made but the overall disaster that has become Australian housing, not to say the impact on Australian life, family, present and future. Not to say the obsessiveness around the matter as like I say impact on the casualness on life in general. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted March 11, 2016 Share Posted March 11, 2016 We're sticking with the UK rule of thumb with the multiplier! We seem to be eligible for more because we have no children and no car (work vehicle only), which is great if job security is realistic, but we have both seen scary dismissals and redundancies. Given Australia's fragile economy and crazy political whims, it'd be good to make sure one of our (equal sized) salaries pay the mortgage and bills, with a modest food budget also! Just remember Baked Beans tend to be double the price of UK over here as well. Quote Link to comment Share on other sites More sharing options...
Parley Posted March 11, 2016 Share Posted March 11, 2016 Honestly you do talk a lot of cobblers most of the time Flag. Has any of your predictions ever come true ? I doubt it. Quote Link to comment Share on other sites More sharing options...
paisleylass Posted March 11, 2016 Share Posted March 11, 2016 Just remember Baked Beans tend to be double the price of UK over here as well. We'll just go to Aldi!! Quote Link to comment Share on other sites More sharing options...
paisleylass Posted March 11, 2016 Share Posted March 11, 2016 Parley is the Trump to flag's Sanders! :cute: Quote Link to comment Share on other sites More sharing options...
Guest Posted March 11, 2016 Share Posted March 11, 2016 Just remember Baked Beans tend to be double the price of UK over here as well. They are like $1. Isn't that the same. Probably cheaper when you factor wages Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted March 11, 2016 Share Posted March 11, 2016 Do you really need to create another thread on the same topic ? You already have one going on the housing bubble. Pretty serious matter I'd have thought. I mean the loss of The Great Australian Dream, and slide into inequality and generally lower living standards is something that should be shouted from the roof tops. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted March 11, 2016 Share Posted March 11, 2016 There is an interesting plus side though as mentioned in the article: young people these days seem to do a lot more travelling, for a lot longer, than when we were their age. If you don't (or in their case, can't) get tied down with a mortgage etc, you have a lot more freedom to travel and visit and live in many different countries and places. I recall far more Brit's are on the road over the past decade but Aussies were always thick on the ground in Europe and Asia in decades past. As were Germans and French etc. Not forgetting the old Hippy Trail of course, where some claim over a million covered from 1966 to 1979. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted March 11, 2016 Share Posted March 11, 2016 He'll need to learn how to moderate himself first before he starts on the rest of us. :wacko: He'll give himself hic cups with the turning in circles before collapsing in a unsightly pile, attempting such a feat. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted March 11, 2016 Share Posted March 11, 2016 I'd bet that if this was a thread about how wonderful life was in Downunderland, there would have been no whinging. Bet your bottom dollar on that. Those past arrived settled when times were good and prices cheap,would be part of the cheer squad applauding the Wonder of being Down Under. Quote Link to comment Share on other sites More sharing options...
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