Thinking about just renting a unit instead of owning- anyone else doing this ?

[randomx]

Gday all.

As int he title yeah , thinking about just renting instead.

Thing is, ex w and l had huge properties and always reno's at that , l was sort of obsessed earlier in with property and the small acreage lifestyle but l think l  wore that out and def' over did it. l also rented out my little country cabin 15 yrs too but now l just want that gone as well if l can sell it bc renting it out has just been a constant stressor anyway and these days l'm just sick of property, full stop.

l was seeing someone for awhile back though and she just rented a unit so we'd either stay at hers or mine. Thing was , staying at hers, l mean l'm use to small acreage and lots of outside- and all the work our places always needed so l was expecting her place to be torture but l got a real surprise. lt was damn nice staying at there, really damn nice. After all the crap l'm use to with houses and properties it was just so nice to just be able to live and relax and just do what you want for once. Longest we spent at hers was usually about 2mth stints a time so l don't have yrs of it to go by but really begun loving whatever time we did spend at hers.

l'm at cross roads atm. Got rid of my last house and l'm just staying over at my cabin myself right now deciding what l wanna do about housing. Was thinking of getting a block in a better spot and building something but just of late l'm thinking ldk if l even want to anymore. Being at the cabin has just been more property work again, it's on half a hect'.

Same time yeah been tossing up everything a yr or 2 now and always remembering how nice the unit living was. My work was also pretty physical stuff and l've been building things since kinder garden too ha ha, feel like l'm sick of all that too and just wanna enjoy myself for once.

 

Anyone just renting instead these days or just in a unit of some description, what do you think ? l'm feeling if it had a bit of a garage case l felt like tinkering and somewhere to put my kayak to hell with everything else right now that'd do me.

 

 

 

Edited Monday at 08:29 AM by randomx

[onetrack]

Renting always put you at a disadvantage, because the landlord/landlady can die, sell up, or just toss you out, because they "want to redevelop". Nothing says "secure" like owning your own home.

 

Pick a place that is low maintenance and doesn't encompass a big area or lots of rooms, which most people don't need, and never use, anyway.

 

Around my neck of the woods (inner-city Perth), we have 30's, 40's and 50's houses that are quite often heritage listed or have other restrictions on them, and most purchasers move in here because we have one of the "old, leafy, quiet, sought-after suburbs", and because they have money to extend, modernise and revamp the properties.

 

As a result, every second house around here is anywhere from 5 to 8 bedrooms, have massive rear extensions, second stories added, swimming pools installed - and most of those houses are occupied by just TWO people!! 

I guess these owners must pay out constantly for house maintenance and cleaning, because I sure wouldn't want to be doing all that work by myself!

 

We live in a house built in 1957, it had 2 bedrooms and sleepout originally, then the previous owner (and original builder) turned the sleepout into a third bedroom with a modest brick extension. 

We put in a new kitchen in 2005, and a new bathroom the year before last, and that might be the last renovations we do - although SWMBO talks about re-doing the kitchen again.

 

We don't really want to move, because this spot is very central, very quiet, no crime, the rates are relatively modest, and everything we look at elsewhere is either going to cost us a lot more, or we get jammed into a tiny block in a new housing estate. The last is something neither of us want, we're on a little under 600 sq m, have lots of nice big trees and a well-established garden, and we don't have neighbours arguing just 3 metres away.

Plus, our house has nice big rooms and high ceilings, larger than the standard of the time, because the original owner was a builder. 

 

I would never ever move to a rented property simply because of the insecurity angle. I like knowing that I can decide when and how I move, not having it forced on me at a bad time.

[Jerry_Atrick]

I am not in a unit or "renting", but to get this house over the line, I have borrowed and am paying it back - so akin to paying rent. 

As someone who seems to have have more than one property on the go, it seems you would have a better insight than most. 

 

When I was a young lad in Australia, my idea of building wealth was to rent a unit to live in abd buy rental houses. Renting would mean that any improvements or repairs would be tax deductible, negative gearing means you have better cash flow, and capital gains allowances have always been sweet from a tax perspective (except for a short period). Although the newspapers are reporting a property market hiuccup in Sydney and Melbourne, the poroperty market has been quite robust for a long time and offers both good yields and captial gains. Alas, first flying, and then women scuppered my plans.

 

Froma pure lifestyle perspective, I, too, am over big properties, renos, and lots of maintenance. I may not be so over it under different circumstances, but unless you are flipping for profit and making good money out of it, it is either a passion/hobby, or it saps a lot of other things, like flying. When I have sold this beast, it will be back to Aus, and a 3 - 4 br, max 1/4 acre block - maybe two acres in a rural setting for self-sufficiency. But it has to be low maintenance. 

 

As @onetrack says, renting is less secure and, well, the rental market has gone ballistic lately, so you are competing with a lot of people - less so in rural and regional areas. From your post, it sounds like it is the maintenance and effort that is the issue - not the renting v owning thing. 

[randomx]

So your not in Oz now Jerry or ? Nice to hear you'd like to come back though if not anyway.

But nah , all that was back with ex w , and on borrowed money to so we never came out with much after breaking up, don't ask just how it was. l only have this one 1/2 hect' place now,since l got rid of my house but l don't like the town at all here. Lovely property and l could even build on this as the property itself is so damn nice though but so far to a good town though, 50k, 20 and 30k to smaller shit ones. This town where the property is only has a pub.

Seems l'm here now l could do that but thinking l couldn't be stuffed getting a whole nother place though and building on that.

Edited Monday at 08:51 AM by randomx

[Jerry_Atrick]

Yeah - been holed up in the UK for the last 29 years (minus two and a half where my partner and I were in Aus). Was hoping to be back about 7 years ago, but between one thing and another, not sure where the time went. 

 

If you're not happy where you are, moving is probably the best thing. I lived in a 3br unit with my father for the last three years of high school. It worked OK; very low maintenance, body corporate was uite well run (only 6 units on the block). That is probably the issue with units and flats - if youhave a crap body corporate it could cost you and you get nothing for it. 

 

 

[randomx]

Uk eh , always thought it one of my fav countries or even the fav' but hear it's gone down hill lately , God knows.

But yeah thanks for the thoughts, bloody depressed where l am would be more like it. l've only been here 2mths though and will be for a few more at least l'd say but hoping something nice comes of it or l even start liking it. The property is gorgeous, street too. Really nice to come home to but once your back a few days town itself starts getting to me again so not really expecting much. l'll give it a bit more time though and no choice right now anyway so shall see how things go.

Yeah have heard about those bloody body corp things. That's why l thought of just renting, found one l liked and could afford to buy, need to borrow a bit but the bloody body corp costs were 16k a yr, l mean just wtf ? So looked at a few others and they were anything from 5-6k to even 20k, they can shove that.

Edited Monday at 10:09 AM by randomx

[Jerry_Atrick]

It was about 43 years ago, but we were paying, as I recall, about $1,200 year or thereabouts to the body corporate. 

 

 

Edited Monday at 10:32 AM by Jerry_Atrick

[randomx]

Gees man, light yrs away wow eh, but you remember that.

Lot of money actually back then though. Such a different world now eh.

[Jerry_Atrick]

1 hour ago, randomx said:

Gees man, light yrs away wow eh,

Don't remind me! 😉

 

[randomx]

12 hours ago, onetrack said:

Renting always put you at a disadvantage, because the landlord/landlady can die, sell up, or just toss you out, because they "want to redevelop". Nothing says "secure" like owning your own home.

 

Pick a place that is low maintenance and doesn't encompass a big area or lots of rooms, which most people don't need, and never use, anyway.

 

 

Yeah thx for that . Problem is it's pretty hard picking and choosing much over here atm tell you what, prices are insane and there's very little if any at an affordable price let alone it be something l'd want. Saw one l know of now but once again it'd be a reno job and it's on an ac , it is on the edge of a great little town though and only 25mins to the main town.

That place is a great but great spot to and great price bc it needs the work but l just couldn't be bothered with yet another big place and a reno at that.l'd still need to borrow a bit.

Didn't really want another mortgage either but l spose you have a big point there to in that it would only mean same as paying a rent anyway l guess and probably less at that, plus no one can kick you out yeah, bloody big points. Something l'll have to think about.

Your area sounds lovely .