jasonjeroo: renters are actually living quite cheap at the...

jasonjeroo: renters are actually living quite cheap at the moment.
Warnie: compared to what?

Compared to buying.

Here's the figures for the unit I'm renting in Brighton:

Rent
$13,520pa / 52 = $260pw

Buy
$330,000 + $13,000 (stamp duty) x 6.75% = $23,152 (IO)
1% maintenance/strata/council/levies/sinking fund/water = $3,300
Total = $26,452 / 52 = $509pw


Hmmm $260pw with no capital loss risk or $509pw with capital loss risk...hard choice.