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However, we have all accidently deleted the [ or ] at either end of the quote ... just a case of checking after you hit post, and going in for an edit if it's wrong. Bit like the spelling thing.[/QUOTE
but then it would look like this, so you would still know it was a quote
, ie the whole "thing".
It took me a while to even learn how to quote. I felt quite clever and special when I did learn it
I think Lizzie meant the, ie the whole "thing".
It took me a while to even learn how to quote. I felt quite clever and special when I did learn it
For the sake of going "off topic" - I still haven't worked out how to bring several quotes from several different posts onto the one reply.
Nah - don't bother trying to teach me!
the button next to quote (in the posts)Nah - don't bother trying to teach me!
This is what I am thinking. She is currently renting a 3 bedroom place and renting two of the bedrooms to one of her friends and a friend of a friend, so she is used to the idea of sharing a house and actually I think prefers it.
From what I have read her options are:
1) Rent and live of the interest. I dont like this one as it seems to be a waist of a good opportunity. ie ending up with nothing seems pretty sad after getting the money.
2) Buy a townhouse in Deewhy, rent out a room and then go onto the pension. Is it better to get a loan and pay it off or buy the house in full?
or 3) She was is also thinking of moving to Wollongong where my sister lives... But doesn't want to move down straight away. Maybe she could buy a house down there, rent it, then move down if or when she wants while still renting up in Dee Why, that way she can stay in dee why while building up some assets.
Also Kathryn and Bigtone I came on here for advice from experts, not uninformative opinions, this is my mum we are talking about!
This is what I am thinking. She is currently renting a 3 bedroom place and renting two of the bedrooms to one of her friends and a friend of a friend, so she is used to the idea of sharing a house and actually I think prefers it.
From what I have read her options are:
1) Rent and live of the interest. I dont like this one as it seems to be a waist of a good opportunity. ie ending up with nothing seems pretty sad after getting the money.
2) Buy a townhouse in Deewhy, rent out a room and then go onto the pension. Is it better to get a loan and pay it off or buy the house in full?
or 3) She was is also thinking of moving to Wollongong where my sister lives... But doesn't want to move down straight away. Maybe she could buy a house down there, rent it, then move down if or when she wants while still renting up in Dee Why, that way she can stay in dee why while building up some assets.
Also Kathryn and Bigtone I came on here for advice from experts, not uninformative opinions, this is my mum we are talking about!
yeah $1m is nice but not really enough to keep her in the style accustomed do, i suggest hiding the $1m in a bank account somewhere is someone else's name then marry and take down another sucker for at least $2m this time.
then her never going to work again lifestyle can be maintained until the grave.
Righto you lot, back OT
Hi Steve,
I would favour buying a place in the Gong if Mum is prepared to live there. It is true she could rent it out in the meantime but what happens if sister moves or gets divorced as well.
If she is happy sharing a house then perhaps she could buy in Dee Why and rent rooms, it does work on 2 levels, firstly she gets some income to pay the maintenance costs and secondly she has company should anything go wrong.
I am fairly sure that the rent received would be taken into account when pension time rolls round so she may not get a full pension.
In the meantime I do think that she would be mentally and physically healthier if she had a job, life is pretty boring and unhealthy just loafing around.
Nice to see you being involved in your Mums life
Also the reason I would prefer my mum didn't rent is:
1) If she rents and still has a large chunk of money in the bank when pension time comes she might not be eligible for the pension, as aposed to if she put her money into a PPOR.
2) If she wanted to move she could sell in 10 or 20 years with some extra cash, or rent it out and rent a smaller place in Sydney or Wollongong. While still going forwards rather than backwards.
Please let me know if im on the wrong track as I am new to this. Cheers
Have you checked on the assets limits to be able to qualify for the pension? easily found on the centrelink webste.
I checked the centrelink website and to get the full pension the limit of assets must be less than $686,000 with an income less than $150 per week.
But this does not include your principal home. "the value of any real estate, including holiday homes, you own (this does not include your principal home)"
So I think buying an investment home wouldn't be the best option, but to by a home and live in it. This brings me back to the point that I believe the money would be better sitting in a home rather than a bank.