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Old 29th January 2014, 11:14     #38601
xor
 
Quote:
I'm hesitant to even consider a mortgage, I'll probably buy my house in cash cause you know, fuck paying more than you have to through interest.
I don't think it works that way.
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Old 29th January 2014, 12:11     #38602
aR Que
 
I'm with you on the 'fuck debt*' thing. Only ever paid cash**, but floating 200+ in capital for a house, duuuuude. Would the amount you could save even keep up with inflation? let alone the cost of renting. Could well end up being 'more expensive' to try and save that $... if you know what i mean?

You can get pretty clever about minimizing the interest by #1 limiting the amount you borrow and #2 splitting up your mortgage like a fucking ninja amogst different terms and floating maximising lump sum payements (the amount you'd be saving as a capital for the totality of your hosue purchase).

...
...
But i love making overly complicated spreadsheets.




*before my ex raped my accounts.

**Got a CC because one time, in the ole' outback i underestimated the amount of fuel i'd need and the price it'd cost, long story short, things were getting pretty skinny.
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Old 29th January 2014, 12:36     #38603
Nothing
 
So lets assume a $400k home with a 20% deposit. Then your mortgage will be $320k. As a single person you probably pay about $200/w rent if you're living in a major city. 320k * .05 / 52 = $307.69 in weekly interest. Thus, even for an average size mortgage, it is still cheaper to save up the money than it is to pay off a mortgage. The cost of interest is greater than the cost of renting. And as far as I'm aware 5% is lower interest than the bank would be likely to give. So it might be faster to take the $107 weekly difference and chuck it into savings. Especially when you take into account that if you have a large sum of money in savings the bank will pay you interest on it. Of course, that equation changes if you are a couple and you're accordingly paying more rent. Also, with a bigger deposit interest repayments will get smaller. There does come a point at which, once your deposit is big enough, your interest payments are smaller than your rent. And then you may as well get a mortgage.
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Old 29th January 2014, 15:04     #38604
Trigger
Laserman
 
Quote:
Originally Posted by aR Que
I'm with you on the 'fuck debt*' thing. Only ever paid cash**, but floating 200+ in capital for a house, duuuuude. Would the amount you could save even keep up with inflation? let alone the cost of renting. Could well end up being 'more expensive' to try and save that $... if you know what i mean?
eh no big deal, already got over $130k in cash and that's after i bought some land (in cash)
not even mad

will probably consider buying a house when i got over a mill, until then renting a massive house in the centre of the city for fuck all monies seems like a much better deal... save infinite time and money on not having to commute, don't have to worry about maintenance, rates, blah blah...

20+ year mortgages and the absurd interest you pay seems like a stupid idea... giving the bank an extra 100k just cause you suck at saving money? no thx
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Last edited by Trigger : 29th January 2014 at 15:08.
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Old 29th January 2014, 15:45     #38605
aR Que
 
Glad it's working for you, champ.




mmmm, delicious capital gains.
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Old 29th January 2014, 17:42     #38606
Savage
 
Right up until a new CGT hits you in the feels, which Murphy's Law dictates will be implemented the day after you invest in your first property
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Old 29th January 2014, 18:35     #38607
Trigger
Laserman
 
it's cool bro cause then you can offset it with your losses and win at everything forever
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Old 29th January 2014, 18:37     #38608
crocos
 
Quote:
Originally Posted by [Malks] Pixie
I'm kind of resigned to the fact that even if I did want to get a mortgage or something now I probably wouldn't be able.

Pixie
I disagree: Banks look for negative indicators; we have no positive lending indicators available in this country (yet) with respect to credit bureau services.

If you've got a decent deposit, you may be pleasantly surprised.
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Old 29th January 2014, 19:52     #38609
[Malks] Pixie
 
Quote:
Originally Posted by crocos
If you've got a decent deposit, you may be pleasantly surprised.
Ahhh well there's my issue - any capital I did have has been eaten up after my partner got made redundant and I went back to uni. Plus I've never been highly paid in my employed roles - I've had some nice windfalls from various independent contracts.

Prior to her redundancy my partner would have been sweet to the banks ($90K+ salary and almost no debt) but 20 months unemployed has destroyed that.

Pixie
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Old 29th January 2014, 20:03     #38610
xor
 
Quote:
Originally Posted by Savage
Right up until a new CGT hits you in the feels, which Murphy's Law dictates will be implemented the day after you invest in your first property
If CGT ever did get implemented how would it be applied? From the time legislation is passed? retrospectively? How would you measure it against a house that was purchased for 10K 30years ago?

Accountants will ensure that those with a lot of equity don't get fucked by the taxman
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Old 29th January 2014, 22:41     #38611
Pimp-X
Drunken Annoying
Superhero Bastard
 
Cool

I dunno. I'm just some idiot.

All I's knows is, I own a lot and pay very little. Probably made this happen by being drunk at the time. Go figure. I'm useless.
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Old 30th January 2014, 00:17     #38612
Ab
A mariachi ogre snorkel
 
Quote:
Originally Posted by Pimp-X
I dunno. I'm just some idiot.

All I's knows is, I own a lot and pay very little. Probably made this happen by being drunk at the time. Go figure. I'm useless.
I am a humble student at the feet of the master. But this is the fucking way to do it.
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Old 30th January 2014, 08:04     #38613
chubby
 
wow.
breaking bad visits northland.
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Old 30th January 2014, 12:57     #38614
Savage
 
Quote:
Originally Posted by xor
If CGT ever did get implemented how would it be applied? From the time legislation is passed? retrospectively? How would you measure it against a house that was purchased for 10K 30years ago?

Accountants will ensure that those with a lot of equity don't get fucked by the taxman
I have absolutely no idea ... I am neither lawyer nor home owner, just an interested/curious reader about such things. I imagine it would be from the time legislation is passed if/when it gets introduced.
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Old 30th January 2014, 13:35     #38615
Ab
A mariachi ogre snorkel
 
For great CGT discussion, I recommend to you all this thread.
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Old 31st January 2014, 17:03     #38616
CCS
Stunt Pants
 
AAAHAHAHAHAHA Lotto you fucked up your form email! HAAAHAHAHAHA YOU FUCKING HEBES!

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I just want to understand this, sir. Every time a rug is micturated upon in this fair city, I have to compensate the owner?
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Old 31st January 2014, 20:42     #38617
Lightspeed
 
That's mad loot.
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Old 3rd February 2014, 08:46     #38618
Redneck
 
Philip Seymour Hoffman found dead

http://www.bbc.co.uk/news/world-us-canada-26009575
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Old 3rd February 2014, 11:06     #38619
CCS
Stunt Pants
 
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I just want to understand this, sir. Every time a rug is micturated upon in this fair city, I have to compensate the owner?
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Old 3rd February 2014, 14:18     #38620
fixed_truth
 
Heroin. That's sad. He was pretty talented too.
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Old 3rd February 2014, 14:23     #38621
Ab
A mariachi ogre snorkel
 
Luckily the Daily Telegraph (aka News Limited aka Rupert Murdoch aka Fox News Down Under) has some insightful commentary

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Old 3rd February 2014, 15:08     #38622
Ab
A mariachi ogre snorkel
 
omg, the Broncos are getting slaughtered out there, FOR THE LOVE OF GOD JUST END IT.
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Old 3rd February 2014, 16:41     #38623
StN
I have detailed files
 
The photo on the front page of Stuff this morning weirded me out. Poor young girl had bone cancer, and a love of running. Best option for porosthesis was a rotationsplasty procedure.

Do a GIS.
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Old 4th February 2014, 18:34     #38624
crocos
 
Fuckit.

I just lost The Game.
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Old 4th February 2014, 19:07     #38625
Spoon1
Mmm... Sacrilicious
 
Quote:
Originally Posted by crocos
Fuckit.

I just lost The Game.
??

You masturbated first?
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Old 4th February 2014, 19:38     #38626
Deadmeat
 
I assumed he was last and had to eat the biscuit.
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Old 4th February 2014, 20:14     #38627
crocos
 
http://en.wikipedia.org/wiki/The_Game_(mind_game)
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Old 5th February 2014, 12:18     #38628
xor
 
Cunning linguist crocos watching the game of kicks

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Old 6th February 2014, 20:17     #38629
Ab
A mariachi ogre snorkel
 
Wacked

*running footsteps approach*

"Dad! Dad! Dad! Smell this!"

*small hand is waved*

"What's th--"

"That's my VAGINA!"

*running footsteps recede*

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Old 6th February 2014, 20:52     #38630
fixed_truth
 
__________________
Protecting your peace is way more important than proving your point. Some people aren't open to cultivating their views. Just let them be wrong.
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Old 7th February 2014, 09:05     #38631
Cyberbob
 
Fact: You probably have an above-average number of arms.
__________________
ɹǝʌo sᴉ ǝɯɐƃ ʎɥʇ
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Old 7th February 2014, 10:54     #38632
aR Que
 
ahhh rounding, the amount of drama i've seen that cause.
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Old 7th February 2014, 11:00     #38633
Waldo
Pornstar
 
Quote:
Originally Posted by crocos
Fuckit.

I just lost The Game.

dammit there goes my record..

I just lost the game
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Its Business time
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Old 7th February 2014, 13:21     #38634
Nothing
 
The game? srsly? Most retarded waste of time ever.
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Old 7th February 2014, 13:57     #38635
Lightspeed
 
Some people need Jesus, others The Game. *shrug*
__________________
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Old 7th February 2014, 14:22     #38636
Nothing
 
I'd be surprised if they're mutually exclusive categories.
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Old 8th February 2014, 02:53     #38637
Nothing
 
Got new headphones a while back. I thought the surround probably wouldn't be that great in 7.1 headphones. But these G35's keep making me literally look over my shoulder. Impressed.
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Old 8th February 2014, 08:08     #38638
pxpx
 
G35s are great headsets, if not a little bulky.

I picked up a pair of G930s yesterday, would recommend you sell those G35s and upgrade! Wireless <3

The 7.1 surround is awesome for DayZ situational awareness.
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Old 8th February 2014, 11:59     #38639
DrTiTus
HENCE WHY FOREVER ALONE
 
Is there any lag with the wireless?

I got some cheap DSE wireless ones and there's a few ms delay that's really noticeable when you're doing music stuff.
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Finger rolling rhythm, ride the horse one hand...
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Old 8th February 2014, 12:14     #38640
StN
I have detailed files
 
Renting vs home ownership

Renters don't have to sort out cunting tree stumps in the blazing sun.
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