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it's basically about the property not making you a profit, or much of one, so the loss reduces income which reduces tax payable......meanwhile the property gains value.
Sailed SS Australis out of Southampton 1977.Arrived October in Adelaide via Melbourne 1977.Liverpool/London 1987 - 1992
Adelaide 1992 to eternity:)and one day you'll wake up and stop counting how long you've been here.
[quote=Deb17;43380]I would love to buy a place, like most people given the choice, but whereas in the UK rental costs were often more expensive than a mortgage, over here it is the opposite. For most families, renting is a more affordable option, although the quality of the properties available can be erratic and I have noticed rental prices have risen a lot in the last two years as landlords rush to make their fast bucks at our expense. I am quite bitter about landlords, now in the position of having to move for a third time, since the lovely house we have lived in for a year has been sold to a private buyer. More packing, moving and rent bond costs![/quote
OMG you have had to move 3 times i dont know if i could cope with the emotional strain of that with the kids. something else to really consider.
it is something i have seen a lot of come to think of it when you look at realestate they mention that they have a 'good tennant willing to stay' - i am sorry you are having to move on again but i appreciate the post as it is all helping very much with my thought process
So whats to stop Tracey buying a house and renting it out to me???
We can save ourselves a fortune.
Just wanna say about our experience since landing here in adelaide. after the OAA for 6 weeks we got a funished rental in happyvalley which we had for 6 months .The rental was $240 per wk for a lovely 3 bed house garage ect.We decided to buy a small 2 bed unit in reynella as theres only 2 of us and we are finding we are paying an extra $400 per month on extra bills/morage ect for alot less house.We have only been here for 3 months and thinking of selling up and going back renting