Browse Forums Home Finance Re: Buy or rent? Place earnings into a house or savings acco 8Feb 08, 2011 9:10 pm Im certainly no expert but will go on my experience. I bought a place on a single parents income paying 3X what I paid in rent but after 5 years my mortgage is 1/3 less on what I would pay- and thats after refinancing a couple of times. I know we had a boom after I bought but with the gorgon mine project and the expansion of FMG happening.... You are in a great position having such a low rent and decent double income coming in (not as much as it should be I know with me being a nurse and my brother being a teacher . I personally would consider continuing to rent as long as you are happy with that, buy a moderate place to rent out, negative gear and pay the difference in what you currently pay in rent which would work out less than what you chuck into your savings account each month. Its a buyers market in WA at the moment. If I were in your position id take advantage of it. Having it in a bank account means yet another tax to be paid. 1-3 looks good but 4 relies on being able to have cheap rent for an extended time. It seems very clear to me that your contract states that a security account does NOT need to be established so the answer to the builder is NO. If in doubt find a contract… 1 8698 Use a product like Equisol's Vitalise to clean the deck then coat with a penetrating timber oil. It will look 10 years younger and add value to your home. Visit for… 1 16136 |