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29th January 2014, 11:14 | #38601 | |
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Quote:
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29th January 2014, 12:11 | #38602 |
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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. |
29th January 2014, 12:36 | #38603 |
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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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29th January 2014, 15:04 | #38604 | |
Laserman
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Quote:
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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Are you slow? The alleged lie that you might have heard, me saying, allagedly moments ago... That's a parasite that lives in my neck. Last edited by Trigger : 29th January 2014 at 15:08. |
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29th January 2014, 15:45 | #38605 |
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Glad it's working for you, champ.
mmmm, delicious capital gains. |
29th January 2014, 17:42 | #38606 |
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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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29th January 2014, 18:37 | #38608 | |
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Quote:
If you've got a decent deposit, you may be pleasantly surprised.
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Ξ √ Ω L U T ↑ ☼ N وكل يوم كنت تعيش في العبودية |
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29th January 2014, 19:52 | #38609 | |
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Quote:
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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Civilised is as civilised does and civilised people walk among us. |
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29th January 2014, 20:03 | #38610 | |
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Accountants will ensure that those with a lot of equity don't get fucked by the taxman |
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29th January 2014, 22:41 | #38611 |
Drunken Annoying
Superhero Bastard |
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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If there is one movement I could get behind in this world, it would be the discrimination and abuse of fucking idiots. |
30th January 2014, 00:17 | #38612 | |
A mariachi ogre snorkel
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Quote:
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30th January 2014, 08:04 | #38613 |
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wow.
breaking bad visits northland.
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"Take four red capsules, in ten minutes-take two more. Help is on the way." |
30th January 2014, 12:57 | #38614 | |
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Quote:
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30th January 2014, 13:35 | #38615 |
A mariachi ogre snorkel
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For great CGT discussion, I recommend to you all this thread.
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31st January 2014, 17:03 | #38616 |
Stunt Pants
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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? |
31st January 2014, 20:42 | #38617 |
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That's mad loot.
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Stay shook. No sook. |
3rd February 2014, 08:46 | #38618 |
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3rd February 2014, 11:06 | #38619 |
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? |
3rd February 2014, 14:18 | #38620 |
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Heroin. That's sad. He was pretty talented too.
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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. |
3rd February 2014, 14:23 | #38621 |
A mariachi ogre snorkel
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Luckily the Daily Telegraph (aka News Limited aka Rupert Murdoch aka Fox News Down Under) has some insightful commentary
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3rd February 2014, 15:08 | #38622 |
A mariachi ogre snorkel
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omg, the Broncos are getting slaughtered out there, FOR THE LOVE OF GOD JUST END IT.
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4th February 2014, 18:34 | #38624 |
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Fuckit.
I just lost The Game.
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Ξ √ Ω L U T ↑ ☼ N وكل يوم كنت تعيش في العبودية |
4th February 2014, 19:07 | #38625 | |
Mmm... Sacrilicious
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Quote:
You masturbated first? |
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4th February 2014, 19:38 | #38626 |
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I assumed he was last and had to eat the biscuit.
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4th February 2014, 20:14 | #38627 |
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__________________
Ξ √ Ω L U T ↑ ☼ N وكل يوم كنت تعيش في العبودية |
5th February 2014, 12:18 | #38628 |
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crocos watching the game of kicks
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6th February 2014, 20:17 | #38629 |
A mariachi ogre snorkel
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*running footsteps approach*
"Dad! Dad! Dad! Smell this!" *small hand is waved* "What's th--" "That's my VAGINA!" *running footsteps recede* |
6th February 2014, 20:52 | #38630 |
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__________________
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. |
7th February 2014, 09:05 | #38631 |
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Fact: You probably have an above-average number of arms.
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ɹǝʌo sᴉ ǝɯɐƃ ʎɥʇ |
7th February 2014, 10:54 | #38632 |
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ahhh rounding, the amount of drama i've seen that cause.
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7th February 2014, 11:00 | #38633 | |
Pornstar
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dammit there goes my record.. I just lost the game
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Its Business time |
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7th February 2014, 13:21 | #38634 |
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The game? srsly? Most retarded waste of time ever.
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7th February 2014, 13:57 | #38635 |
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Some people need Jesus, others The Game. *shrug*
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Stay shook. No sook. |
7th February 2014, 14:22 | #38636 |
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I'd be surprised if they're mutually exclusive categories.
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8th February 2014, 02:53 | #38637 |
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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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8th February 2014, 08:08 | #38638 |
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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. |
8th February 2014, 11:59 | #38639 |
HENCE WHY FOREVER ALONE
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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... |
8th February 2014, 12:14 | #38640 |
I have detailed files
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Renting vs home ownership
Renters don't have to sort out cunting tree stumps in the blazing sun.
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