Hi Lupis,

There is a lot to think about when you look at R/E right now...

Have you considered the implications of buying an investment property rather than a principle place of residence ?

Basically when you sell the Investment Property, you have to pay capital gains tax on it.. (50% of the net profits are added to your income tax for that year).

When you sell a principle place of residence, you don't have to pay any CGT.

Before you decide to buy... why not check out the bears opinion of R/E on this website.

http://forum.globalhousepricecrash.com/index.php?s=9ee042d999d5671557430141ecdd79 8b&showforum=9

Warning... the general theme is that R/E is about to go down in value.. and it might be quite a while before it goes back up... it *might* be a good time to be cashed up in a year or two *IF* they are right.

Regards,
rastus

I hope you don't believe what you see on tv? Or what the government tells us. Because if you do you be shafted for sure. Do a little primary research online and look at the US market, look at the UK now. Were just behind them and within a few years you will see reductions of 20~30% OR MORE here.

If you buy now, and are pulling your hair out in a few years time, remember. I told you so.

Good luck fellow aussie.

Hi Guys,

Sorry to intrude on this conversation but I'm seeking advice and you seem to be the people to ask.

I am from the UK and planning to spend 6 months in Aus on a working holiday. I have decided to come to Melbourne because I have heard alot of good things about it over Sydney.

I am seeking some advice and contacts on how to go about doing this. Where are the good (an cheap as possible) areas to live, it doesnt need to be anything too flash because I just want to dump me stuff there and will spend most of my time travelling, working and playing cricket with any luck.

Is the city easy to get to and about without a car?

I also need to sort out some work but thats for a different forum I guess.

Thanks

Hello there, since you are not a native to the area I can make some suggestions as to where the nightlife/action is around the town. If you want to be walking distance to the city, the two best suburbs to do this from are most likely East Melbourne or South Yarra. They are not the cheapest suburbs by any means, but the convenience factor is there .. it should be possible to rent for about $350 for a 2 br unit there. If you are on a strict budget though, the best value can be found in Richmond. However, it comes with a totally different community to it, be prepared for that difference. North of the city offers convenience but lacks the transport facilities, so hence the suburbs mentioned. All suburbs mentioned have good public transport thru bus tram and train facilities.

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Hi Lupis
I want to say that you don't need to take tension, you just need to think about your needs. Then you will take a right decision. In your situation I will prefer to invest money in real estate. As your parents also said that its good way to earn money. Hope you like my suggestion.



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