澳洲Australia property FHO's need to workaholics to pay


在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m


Check out this West Australian story Couple Pay High Price For Dream

To own a home they need to be workaholics. How many FHO's can actually find long work hours and how many years can they sustain long working weeks?
How many decide share accomodation or stay at home is better?

Port Kennedy pair Matt Beezley and Chloe Everington claim the constant discussion about housing affordability had scared them into early action.

“I know people in their 30s who are living with their parents because they can’t afford to move out,” Mr Beezley said. “We don’t want to be like that.”

Ms Everington, 20, said there was a lot of anxiety about housing affordability among her friends.

She said many believed winning lotto was necessary to get on the property ladder.

“There’s no going out, no shopping,” Ms Everington, a hairdressing apprentice, said. “It sucks.”  

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j said: ↑
To own a home they need to be workaholics.Click to expand...
No, to pay off an affordable home in 5 years to upgrade to a dream home, they need to be workaholics. And good on them, this is a choice they are making instead of bitching and moaning saying it can't be done. I wonder what their 30 year old friends expectations are (the dream home first? :rolleyes: ), if they had bought 10 years ago at age 21 like this couple they'd be laughing, instead they are "beebopping" through life.  

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Biggles said: ↑
if they had bought 10 years ago at age 21 like this couple they'd be laughing, instead they are "beebopping" through life.Click to expand...
Zing!

(obligatory message to meet minimum character requirement)  

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yay - another D&G article from j, most likely with no follow up or responses.

i've worked 60-80 hour weeks for the past 4 years, with 3 kids in tow.

who's got that signature that says

"most people don't recognise opportunity, because it's dressed in overalls and looks like work"....?  

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j said: ↑
To own a home they need to be workaholics.Click to expand...
My take on the article was "The risk of buying a house and land package is that you need tobe workaholics to afford it.... "

The Y-man  

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"There's no going out, no shopping," Ms Everington, a hairdressing apprentice, said. "It sucks."

Or they could have just went for the $210K unit initially instead of the $340K house. Then Mr Beezley might not have to work up to 75 hours to pay it off.

Good on them more trying to get a head start. But if this story is supposed to be about people having to be workaholics just to may the mortgage, then that is rubbish.

And what is this guy going to do when he can no longer get 75hrs work per week. Whinge that he can't pay his loan, and complain that the banks gave him too much money.  

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I agree with the article. If you want a home, most mere mortals on a normal salary would have to work full time, just like they always have..

Not much has changed in the last 1000 years or so.

Alot criticise John Taps here but I've noticed that he is not biased to one side of any article he finds and posts here, he just posts whatever he finds.  

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investor2009 said: ↑
Alot criticise John Taps here but I've noticed that he is not biased to one side of any article he finds and posts here, he just posts whatever he finds.Click to expand...
He seems only to post very negative articles though......  

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bluestorm said: ↑
"There's no going out, no shopping," Ms Everington, a hairdressing apprentice, said. "It sucks."Click to expand...
This popped out at me, as a first year apprentice I earnt $240 a week - Full time! If this were the case, then yes, you'd have to work quite a lot of overtime to get a small loan.

It's good they're not bitching and moaning like their 30 year old friends probably are.

EDIT - Dream homes are usually out of reach of many people first up, so it's not that a home is out of reach - it's the massive, pretty, executive house is out of reach..  

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Aaron Sice said: ↑
yay - another D&G article from j, most likely with no follow up or responses.Click to expand...
j
I analyse articles differently than you and interpret what is written in a different way to, horse for courses...


340K - 20% deposit = 272K
272K x 7% interest = $19040 yearly repayments
19040 / 52 weeks = $366 weekly repayments
$366 / 2 = $183 each per week.

Or if they had no deposit $228 per week each.

Good on them, they have worked it out and are going for it.

NOTE - the male in the story is working 75 hours a week to pay off his home (most likely in a shorter time frame than the standard 25 - 30 years). If he is working 75 hours - minimum is he is bringing in $62,400

When people build a new house the house is generally worth more once built, as they have produced a new product. So their equity will have increased 10% I would reckon. 340K + 10% = 374K.


Regards
Sheryn  

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Same old, same old. People choose to prioritise other things first (like going out and shopping) or they want the "dream" home and aren't willing to settle for anything less.

I cann't afford a four bedroom home, let alone a 'dream' home, but I do have a reasonable 3bed PPOR that will suffice until we can upgrade (kids share bedrooms, just like I did growing up): and I do have another little 3bed as an investment (I cann't even afford to live in that one - not at the rent we are going to be charging!!

I still go shopping - but it's mostly window shopping. With kids, I don't get the oppertunity to "go out" much anyway.  

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I see where you're coming from but I've read a few positive articles throughout the forums posted by him also.

wylie said: ↑
He seems only to post very negative articles though......Click to expand...
 

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rugrat said: ↑
(kids share bedrooms, just like I did growing up)Click to expand...
My middle child is a non-sleeping screamer who needs considerably less sleep than her brother and sister and gets woken up extremely easily by noise. If she was any other kind of child she could share a room. I wonder what people did with kids like that in years past? Probably put them in the cellar or something. We did put the girls in a room together once, the next morning the toddler was fine and the older child (who needs more sleep) was a sleep deprived wreck and spent the entire day complaining about how horrible the night was. The young madam was 2 years old before she stopped going to bed after midnight. My first at the same age was happily sleeping 14 hours a night and nothing could wake her up :mad:

Remind me to never have 3 kids with that one in the house. Oh, wait. Dammit.

*goes back to waiting for our nice new 4br house to arrive*

It was supposed to be here by the time the baby was 6 months old! Aaargh!  

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Don't know if my priorities are skewed, but I can't say I've every wanted a "dream home". A home is a home. My "dream home" is a happy home.

People have warped priorities when they want to work 75hr/week to pay off a house, rather than enjoying life and live more modestly. Where the "dream home" turns into a nightmare with bickering about finances, paying off the mortgage, and counting every penny.

Invest for the future, but also live and enjoy today, I say. It's just a house.  

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We work from home doing pretty much whatever we want most of the time, we have 40% of the value of the new house in the bank and the other 60% should come when we sell up. The new house is no 'dream home', it is going to be very nice and will suit us until we have a teenager in the house (who will have violent objections to living so close to two toddlers) but most importantly it will have a very, very low debt, allowing us to continue farting around at home doing pretty much whatever we want :D

Life is good. It would be better with a bigger house and car (to comply with stupid government car seat laws, otherwise we wouldn't need a new car at all), but those will come soon enough. Hopefully before the baby grows out of the current car seat ...

Give me 3 or 4 years and my dream house will involve 3 bathrooms and 3 living areas. One each for self & partner, the little kids, and for the teenager to sneak boyfriends into without waking the toddlers up. I'd also take a 3br house with a Rapunzel style tower on it to keep her away from said boyfriends.  

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investor2009 said: ↑
I agree with the article. If you want a home, most mere mortals on a normal salary would have to work full time, just like they always have..

Not much has changed in the last 1000 years or so.

Alot criticise John Taps here but I've noticed that he is not biased to one side of any article he finds and posts here, he just posts whatever he finds.Click to expand...
He is completely biased and 99% of his posts reflect this. He just throws the odd positive bit of news in to get moderators off his scent. I'm assuming his luck would be starting to run out.  

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Sheryn said: ↑
When people build a new house the house is generally worth more once built, as they have produced a new product. So their equity will have increased 10% I would reckon. 340K + 10% = 374K.Click to expand...
I dont agree with this at all - some can be built with a 30% margin in it, some with none, and some with -ve or so -ve they dont finish.

A lot of projects dont complete because the end value is less than cost, so generally i wouldnt think novie FHO buying a H&L would get this benefit.  

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...

Any case...I digress.....couple of points that the story misses:

1. Why did they buy a new House and Land? They have done their dough if they did...new hosues in outer suburbs typically take a couple of years to increase in value.

2. Their assumptions that the Perth market is going anywhere maybe unfounded based on where Perth is in the property cycle.

3. Their friends who rent might have the last laugh...particularly if they picked up an older house for say under $300k in same area.

These sort of articles rely on playing on the hysteria of uneducated "Bogans". True house prices go up over the longer term....but currently in Perth ...one could say there is not boom...maybe even a slump.

The other thing if they are serious about getting ahread why not rent a modest house...enjoy life - i.e. shopping, work less....and a property and rent it out. It will be still cheaper than paying a mortgage on your own house

Don't if this couple is particularly smart......sometimes taking action without the facts or being educated could be the worst thing you do.

j said: ↑
Check out this West Australian story Couple Pay High Price For Dream

To own a home they need to be workaholics. How many FHO's can actually find long work hours and how many years can they sustain long working weeks?
How many decide share accomodation or stay at home is better?

Port Kennedy pair Matt Beezley and Chloe Everington claim the constant discussion about housing affordability had scared them into early action.

“I know people in their 30s who are living with their parents because they can’t afford to move out,” Mr Beezley said. “We don’t want to be like that.”

Ms Everington, 20, said there was a lot of anxiety about housing affordability among her friends.

She said many believed winning lotto was necessary to get on the property ladder.

“There’s no going out, no shopping,” Ms Everington, a hairdressing apprentice, said. “It sucks.”Click to expand...
 

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NEWSFLASH - Young Couple Works Hard To Get Ahead!  

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VYBerlinaV8 said: ↑
NEWSFLASH - Young Couple Works Hard To Get Ahead!Click to expand...
Nice angle Berlina but we all know good news stories don't sell newspapers :)

These stories, rolled out often and predictably whenever times are tough (ie: rising IR's, shaky economy, pre-election time) get boring. We all know how hard it is to save for a deposit, go without, work longer hours, cut back on shopping for things we don't need and compromise in order to reach a particular goal. It's not rocket science- it's just plain hard work. I remember a sister of a friend of mine having a strict savings plan in place for 36 mths to save their first home deposit. Her and her husband had a definite budget, a motivational chart on the fridge and gave up smoking to achieve their goals. It took discipline and restraint, but they ended up buying their first place (2 bed unit in Sydney's north-west) 3 years later, and as a teenager I can still recall the excitement and pride when my friend and I went to visit their first home.

They now live in a lovely house in Sydney's northern beaches (their 4th PPOR in 25 yrs) and certainly wouldn't be there if they hadn't made sacrifices earlier on.  

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