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How much of your savings would you spend to buy a property?
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TheFinalEpic Offline
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Post: #26
RE: How much of your savings would you spend to buy a property?
(12-24-2014 12:19 PM)kr4t0s Wrote:  Pal, i live in latin america. Please check the mortgage interest rates in brazil, argentina, uruguay, peru, etc, etc... they are sky rocket high. In the developed world is really different!

Apologies, I thought he was talking about properties in Canada! You're not worried about cash-flow though so our advice is continually moot. What can you get for 150-200 grand in the country you reside?

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12-24-2014 01:25 PM
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kr4t0s Offline
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Post: #27
RE: How much of your savings would you spend to buy a property?
(12-24-2014 01:25 PM)TheFinalEpic Wrote:  
(12-24-2014 12:19 PM)kr4t0s Wrote:  Pal, i live in latin america. Please check the mortgage interest rates in brazil, argentina, uruguay, peru, etc, etc... they are sky rocket high. In the developed world is really different!

Apologies, I thought he was talking about properties in Canada! You're not worried about cash-flow though so our advice is continually moot. What can you get for 150-200 grand in the country you reside?

For 150-200k i can get a 1 bedroom apartment in the poshest area of the city.. I'm currently renting a place for myself, but the idea of buying a property is not for me, but for my brother that lives with me. So i have 2 options, to buy the property full cash or to rent another property for my brother. The latter would give me freedom of movement and i would not lose a big chunk of my savings. Under this scenario, renting a second property would be wiser than buying it?
12-24-2014 02:18 PM
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UnW Offline
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Post: #28
RE: How much of your savings would you spend to buy a property?
(12-24-2014 11:31 AM)kr4t0s Wrote:  
(12-24-2014 09:21 AM)UnW Wrote:  If I was back home, I'd have to spend something like 10 times my gross annual income for a property, and take out a substantial home loan to finance it.

The overpriced housing bubble drives out first time buyers into the outskirts of the city, however with massive demand for inner suburban properties there's always relative stability in the renters market so it's easy to rent out rooms or rent out the property and recoup a substantial portion of the monthly loan repayments.

The idea of being tied down with a home loan in a city I don't respect nor have any long term ambitions in is too depressing for me to consider purchasing property in the near future. Mobility is far more appealing at this age.

What's your age UnW?

I'm in my early 20s.
12-25-2014 12:50 AM
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kr4t0s Offline
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Post: #29
RE: How much of your savings would you spend to buy a property?
(12-25-2014 12:50 AM)UnW Wrote:  
(12-24-2014 11:31 AM)kr4t0s Wrote:  
(12-24-2014 09:21 AM)UnW Wrote:  If I was back home, I'd have to spend something like 10 times my gross annual income for a property, and take out a substantial home loan to finance it.

The overpriced housing bubble drives out first time buyers into the outskirts of the city, however with massive demand for inner suburban properties there's always relative stability in the renters market so it's easy to rent out rooms or rent out the property and recoup a substantial portion of the monthly loan repayments.

The idea of being tied down with a home loan in a city I don't respect nor have any long term ambitions in is too depressing for me to consider purchasing property in the near future. Mobility is far more appealing at this age.

What's your age UnW?

I'm in my early 20s.

Are you based now in SEA?? So you would recommend to rent the property instead of buying it?
12-25-2014 06:34 AM
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UnW Offline
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Post: #30
RE: How much of your savings would you spend to buy a property?
(12-25-2014 06:34 AM)kr4t0s Wrote:  
(12-25-2014 12:50 AM)UnW Wrote:  
(12-24-2014 11:31 AM)kr4t0s Wrote:  
(12-24-2014 09:21 AM)UnW Wrote:  If I was back home, I'd have to spend something like 10 times my gross annual income for a property, and take out a substantial home loan to finance it.

The overpriced housing bubble drives out first time buyers into the outskirts of the city, however with massive demand for inner suburban properties there's always relative stability in the renters market so it's easy to rent out rooms or rent out the property and recoup a substantial portion of the monthly loan repayments.

The idea of being tied down with a home loan in a city I don't respect nor have any long term ambitions in is too depressing for me to consider purchasing property in the near future. Mobility is far more appealing at this age.

What's your age UnW?

I'm in my early 20s.

Are you based now in SEA?? So you would recommend to rent the property instead of buying it?
I left Australia not too long ago, based in Taiwan now. At the moment I plan to stay here 1-2 years before deciding the next step.

Its a renters market here. Properties are ridiculously expensive to purchase and rent is reasonably cheap. I think the apartment I stay in now would take 100+ years to pay back the purchase price if I paid it back interest free with my monthly rent.

My initial post however, referred to my experience in Australia.
(This post was last modified: 12-25-2014 06:39 AM by UnW.)
12-25-2014 06:37 AM
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