Thanks biginjapan. Clear now I definitely won't be making (substantial) money off the place if I intend to live in it. The 3:1 ratio sounds good.
A place to live, stability and as a long-term investment. Plus the rent in Syd is sky-high - i'd figure $350 a week would be wasted money.
?Maybe a shitty studio apartment in the city for $175K might be more appropriate.
Quote: (10-14-2012 02:43 PM)ElJefe Wrote:
Also: why do you want to purchase? What do you hope to get by buying that you won't get through renting?
A place to live, stability and as a long-term investment. Plus the rent in Syd is sky-high - i'd figure $350 a week would be wasted money.
?Maybe a shitty studio apartment in the city for $175K might be more appropriate.
If you're not growing, you're dying.