Stay - Buy - Rent (Poll)

[enigma51]

shit forgot to say what i was going to.You know if you me meet someone she will probley be flating so you can go to her place for a shag so no worrys

Yip was waiting for someone to say that

[Maha]

Thought you might enjoy that..............
Might look on trade me for that elusive blue spandex suit so i can do away with undies all together......................
Could either rent or buy................

[Grahameeboy]

I don't have any undies to Iron.....

[Maha]

I don't have any undies to Iron.....

You look like boxer man.......... thoses fuckers would melt........

[SpeedyGirl]

Depending on your relationship with your parents, stay there and save. Most women love that guys have 'family' ties and as long as you are independant (and don't call your mother 5 times a day) then she should have no problem with you living at home, actually she should encourage it (more money to spend on her and the RING )

Coming from renting since I was 16 and having a load of flatmates, Stay where you are till you can put more into a house and have the option of NO flatmates (and more space for those bikes )

Just my 2c

[Colapop]

Your sister should get rid of him! He sounds like a lazy fucker!

IMHO he he is.... but then I don't f*ck him!

[NC]

I reckon buy a house and get flatmates. If you get someone that's an arse and wrecks it... (I'm sure you'll be a good judge of what they are like.) There is always myself to do most of the work. I am semi quailfied to do that And I'm always keen to do the renivations, if it needs it

[Motu]

If you can get any sort of mortgage go for it - the only mortgage I've ever had I had to lie and cheat for....the times I didn't lie and cheat I was turned down.

[madboy]

Stonechucker - how you doing?!

I don't like other people, so I'd buy and suffer poverty. But I'd still buy at least a 3-bedroom as 1) IMHO they're easier to sell, and 2) you can get a flatmate or 2 in if the going gets really tough.

I bought 3 years ago. My mate went to china 3 years ago. He has a job that pays living allowances etc, so he gets to save HEAPS. He's saved NZD$100k in 3 years. My house value has gone up by $100k in 3 years. I have a house. He has a healthy bank balance. Neither of us are unhappy about our situations.

When I first bought I had NO spare money, I used to buy/sell shit cars on the side to get a spare few hundred here and there for the goodies like daughters birthday, xmas, car blowing up etc. I bought in a lower class suburb than what I woulda liked, but at the time I bought I was a solo-parent so couldn't afford another $100k+ debt to live in a flasher area. My partner and I have now been together for over two years. Between her moving in, and me having over $16k in payrises, the mortgage payments are nothing now.

The equity in the house is more than enough to finance any new bike/car even flasher house in flasher suburb now. But I've gotten used to where we are so don't see any point in taking or more debt for the sake of it.

In hindsight I now wish I hadn't drank/drove/f***ed all that money away for all those years and bought a house 10 years ago. I'd be friggin loaded now, probably driving/riding the cars/bikes I still dream about now. But I know that in ten years time - I will be there.

Sorry to dribble on about me. I'm just sharing my experience so you know can understand my point which is short term pain for long term gain. Buy the house. If you like people, get flatmates. If you don't, don't. If you run out of money, move back home and tenant the house. If you go overseas, tenant the house. It's an asset that will only appreciate.

[Skunk]

I bought 3 years ago. My mate went to china 3 years ago. He has a job that pays living allowances etc, so he gets to save HEAPS. He's saved NZD$100k in 3 years. My house value has gone up by $100k in 3 years. I have a house. He has a healthy bank balance.

My view exactly. I brought up the hill a bit from you 14 years ago. Never regretted it. Rent to me is a waste - paying someone elses mortgage.

If you want a house Dave - go get one. Someone will always want to rent (to subsidise the mortgage costs) where you are, whether it be because of the cost of the rent or it's close to where they work, whatever.

Or buy a house and rent it out completely and stay at home. Nearly did that myself but didn't want renters like some I've seen in *MY* house.

[StoneChucker]

Thanks everyone, I appreciate all the suggestions. It seems the thing to do is buy a house, and THEN choose what to do. Either live at home and rent it out completely, or live in it and rent out spare rooms, and even a great idea I got from someone wise is to live/rent in it for 5 years, then use the now bigger equity in the house to buy 1 or 2 more houses, and rent those out... Assuming all goes well there (that includes using a rental management agency), after 5, 10 or 15 years you should be well set up

Now my only problem is, thats a great long term solution (and what I've decided I'm going to do), but what happens if I get "hit by a bus" next year. It would've been a better idea to blow my money on fast cars, good alcohol and cheap hookers, no wait, cheap alcohol and good hookers, agh whatever

[geoffm]

You have to be pretty settled to buy a house - renting you can up and move with 3 weeks notice.
OTOH, owning a house means you can do what you want with it - want to set up a workshop in the basement, or add on another room, or build shed? No worries (apart from $$$). This is a big advantage of owning - there is no way a landlord would let me do the workshop thing like I have set up at home.
If you know you want to stay for a while, and can afford the mortgage, rates and insurance, then do it.
Geoff

[Shadows]

Buy as sooon as you can. Don't get flatmates. You'll only want to bury them in the back yard.

[madboy]

Well Stonechucker, if you want to start talking about using equity to start a property empire... that's a whole different ballgame. Certainly one I don't discourage attendence at. An easy way of making serious long term financial gain. But "what if I get run over by a bus?"... don't worry about it. Life is full of what if's. Why do I come to work when I could sit at home, lie to WINZ and get the DPB. At least then if I got hit by a bus I would have spent all that time with my kid instead of at work?! And I'd never get on a bike cos it increases the risk of getting hit by the proverbial bus.