Decisions, decisions and decisions!!

[JClarke]

For the fifth time, I have attempted to create a thread on alldeaf.com, and previously failed to post since I have trouble with my internet connection. Hope this works this time! >.<

OK, now since you have noticed what the title says it all. Yes, I am having various options to decide on.. you all remember the other threads, I have made the other few months while I was member here... firstly, was the part I moved out, yes -- that's right, I moved out about 4 months ago now...and the other thread was related to the trip I was planning to visit USA.

To the point, as you know that renting is 'dead money' which is obviously true...you get nothing, just to live in a house that is not yours, my decisions was, do I continue renting (My lease expires in September) for another 6 months? Do I just rent month-to-month while I look for another house to meet my needs (such as big lounge room, 2 bedroom etc etc)? Should I just move back to my parents house and save? Should I just try save and rent at the same time? These decisions are impossible to imply on.

So I have had a dicussion with my parents, my contract with my job is going to run out by november 2008 or March 2009, am not sure though - but currently looking for a permie job at the moment.

At the moment, I am looking for similar position in my department on where I work for 2 years now. I discussed with my parents, that I was thinking of moving back to my parents and save money for few months, it would be a best opportunity for me to stay there while saving money, when the time and money is right (Hopefully next year!) and I shall go house hunting where I would be able to purchase my first home and live there permanently (unless I get married, if I did ) so that way it would be easy to pay off the loan rather than paying the rent aka "dead money"

But in the other options, should I go on holidays before I settle down in my new home? I would want to go on vacation while I'm young! but there is plenty of options I can think of since I am appling for permie positions in my department, so I can have a secure job and a secure future.

Yet again, that permie position can get me a good plan to get a house where I can live in myself, rather than staying with my parents and save in the rich way so my decision is that I would be moving back to my parents house in September and save as much I can, with interest saving in the bank and all, hopefully to get at least 10k into the bank then I can purchase my first home sooner than I thought.

What do you think of my decision, AD'ers?

 

[Phillips]

Wow Cool!! I am agree and move back with parent s house a while.. Save money then best buying a home than rental!!

Good luck

 

[JClarke]

Yep, that's what I thought. Save, save... then bingo, a brand new house.

 

[Cheri]

The decision is yours and only you can make that decision not us, it doesn't matter if we agree or do not agree. It's your life, not ours.

I rent, and I've been renting since the age of 18, I don't care what others would say about it, even if it's a waste of money. I have my reason and my reason is simple, I can't afford the repairs, if needed. I rather to wait on buying a house until marriage.

 

[JClarke]

True, I was just only curious of the perspective from you about my decision, but that's cool

 

[shel90]

If you want to start building a portfolio with investments or assets, saving money to buy a house is a great way to start!

You are right..with rent, it is dead money you get nothing in return.

My friend bought a house when she was 21 years old back in '93 for $70,000 and she sold it in 2005 for $180,000..that's a $100,000 plus profit for her (before taxes, fees and all that) and she used some of it to put in a portfolio with a high interest rate and the rest of it to buy a half million home with a pool and all the works. Smart move..

 

[JClarke]

If you want to start building a portfolio with investments or assets, saving money to buy a house is a great way to start!

You are right..with rent, it is dead money you get nothing in return.

My friend bought a house when she was 21 years old back in '93 for $70,000 and she sold it in 2005 for $180,000..that's a $100,000 plus profit for her (before taxes, fees and all that) and she used some of it to put in a portfolio with a high interest rate and the rest of it to buy a half million home with a pool and all the works. Smart move..

Interesting... I remember someone saying that the person bought a house (3 bedroom house) back in 1990, about 10 to 15 years later, the person finished paying everything off, still have the house, today. These days were cheap, nowdays are so expensive, but purchasing a house is better than nothing.

 

[shel90]

The decision is yours and only you can make that decision not us, it doesn't matter if we agree or do not agree. It's your life, not ours.

I rent, and I've been renting since the age of 18, I don't care what others would say about it, even if it's a waste of money. I have my reason and my reason is simple, I can't afford the repairs, if needed. I rather to wait on buying a house until marriage.

Right, that's one of the reasons I waited so long to buy a house. I knew I couldnt afford the repairs. Now, I have a house...oh boy..the repairs break my bank account each time.

 

[shel90]

Interesting... I remember someone saying that the person bought a house (3 bedroom house) back in 1990, about 10 to 15 years later, the person finished paying everything off, still have the house, today. These days were cheap, nowdays are so expensive, but purchasing a house is better than nothing.

Yea, the 90s were a great time to buy a house. Nowadays, the value of the dollar (in USA) is not as good as it was back in the 90s. I dont know about the Australian monetary value..is it the same too?

 

[JClarke]

If I buy a house, I would consider renovate the house time to time to improve the price when I sell it in 10 years time ... I know how this works

 

[JClarke]

Yea, the 90s were a great time to buy a house. Nowadays, the value of the dollar (in USA) is not as good as it was back in the 90s. I dont know about the Australian monetary value..is it the same too?

They are not many houses under the $100,000 price tag, they are all mostly over the $200,000 price tag..... I think it occurs the same but since it has been affecting our interest rates and the other rates!

 

[shel90]

They are not many houses under the $100,000 price tag, they are all mostly over the $200,000 price tag..... I think it occurs the same but since it has been affecting our interest rates and the other rates!

But are Australian's incomes keeping up with the costs? Here in the USA, the costs of houses are surpassing people's incomes.

 

[NEWIDME]

Hi! Here in the states the real estate market is at an all time low. No one is buying and no one is selling. If it were me faced w/ your decision, I would move back in with my parents and save all I could and not move out until I got a boot in the ass. In my current situation (divorced w/ 2 kids), I would rent. Renting may seem like dead money but there are certain advantages - - one of them being you can move out anytime you want and go somewhere else without the hassle of selling. I really like that. I wish we could move into a house. I dont like living in a condo. yuck! Also I could pick up and move anywhere in the states or out of the USA via my company I work for. Moving with give me tons and tons of dough! anyway, I say move in w/ mom and dad and don't feel bad about it.

 

[JClarke]

But are Australian's incomes keeping up with the costs? Here in the USA, the costs of houses are surpassing people's incomes.

Some of it yes, depending on their jobs such as for me, I work with a high attractive salary

 

[JClarke]

Hi! Here in the states the real estate market is at an all time low. No one is buying and no one is selling. If it were me faced w/ your decision, I would move back in with my parents and save all I could and not move out until I got a boot in the ass. In my current situation (divorced w/ 2 kids), I would rent. Renting may seem like dead money but there are certain advantages - - one of them being you can move out anytime you want and go somewhere else without the hassle of selling. I really like that. I wish we could move into a house. I dont like living in a condo. yuck! Also I could pick up and move anywhere in the states or out of the USA via my company I work for. Moving with give me tons and tons of dough! anyway, I say move in w/ mom and dad and don't feel bad about it.

That is a good option, but living in a madhouse, such it is a big family, I have, I don't mind living back with my parents for few months while I save my ass with some good hard cold cash then kick myself out and live in a comfy home for myself

 

[Secretblend]

That is a good option, but living in a madhouse, such it is a big family, I have, I don't mind living back with my parents for few months while I save my ass with some good hard cold cash then kick myself out and live in a comfy home for myself

What did your parents say about you moving back in?

 

[shel90]

That is a good option, but living in a madhouse, such it is a big family, I have, I don't mind living back with my parents for few months while I save my ass with some good hard cold cash then kick myself out and live in a comfy home for myself

I get the impression that u really want to go with that plan.

Lucky u to have a good salary!

 

[JClarke]

What did your parents say about you moving back in?

They said they don't mind me back for a little while, but they would be happy to help me with the house hunting and discussion with the loaners from the bank assholes

 

[JClarke]

I get the impression that u really want to go with that plan.

Lucky u to have a good salary!

Yeah, just thinking before I can go ahead so I don't have to make a stupid mistake and also, I find the apartment quite small for myself so purchasing a nice 2 bedroom apartment (bigger one though or by single luck, a house) where I can live there for as many years as I like.

 

[Secretblend]

They said they don't mind me back for a little while, but they would be happy to help me with the house hunting and discussion with the loaners from the bank assholes

Sounds like you got the best deal going! My only advice is to make sure you got money set aside for emergencies that goes with house repairs.