The off topic thread 5.0

[Zidane98]

Haha it's all downhill now for him!

I've seen it with my brother though. His partner, whilst a great gal, definitely has been trying to complete the checklist. Sometimes it just doesn't feel like it's organic the way it's happened but you know, each to their own, as long as they are happy.

I've heard the saying wedding/home/baby/dog package many times from wifey


(only just completed the last part after 14 years lol)

 

[Zidane98]

Correct me if I’m wrong here. So if you buy a house for $1m, the government will lend you $250k. If it appreciates by 50% and you sell it for $1.5m, then you have to pay the government back $375k (25% of $1.5m). So of your $500k capital growth, you only get to pocket $125k, and a chunk of that will go towards stamp duty for your next property anyway.

Sounds shithouse tbh.

State Govt receives 25% of the settlement of your home when you sell. And you can't get out of it either, if you stay in the one home for your whole life the government will get their 25% from your estate.

Yes you are correct. The 250k contribution though is interest free though so that's a pretty big thing. LMI also for that sort of loan would be around 25k I believe and that's eliminated also from the government contribution. So still a pretty good deal.

 

[Loonerty]

Correct me if I’m wrong here. So if you buy a house for $1m, the government will lend you $250k. If it appreciates by 50% and you sell it for $1.5m, then you have to pay the government back $375k (25% of $1.5m). So of your $500k capital growth, you only get to pocket $125k, and a chunk of that will go towards stamp duty for your next property anyway.

Sounds shithouse tbh.

But you didn't pay $1m in the first place? Your return is 375k more than what you paid.

 

[Zidane98]

But you didn't pay $1m in the first place? Your return is 375k more than what you paid.

250k of funding interest free over 5 years at normal interest rates is a pretty significant benefit also.

 

[Oshka]

But you didn't pay $1m in the first place? Your return is 375k more than what you paid.

Instead of $500k - LMI - interest paid?

 

[SM]

Correct me if I’m wrong here. So if you buy a house for $1m, the government will lend you $250k. If it appreciates by 50% and you sell it for $1.5m, then you have to pay the government back $375k (25% of $1.5m). So of your $500k capital growth, you only get to pocket $125k, and a chunk of that will go towards stamp duty for your next property anyway.

Sounds shithouse tbh.

That maths doesn't check out. You've paid $750k for a house and walked away after sale with 1.2m.

 

[Loonerty]

Instead of $500k - LMI - interest paid?

Would you not still be able to get those on top of this scheme?

Seems like the idea behind this is to help people buy their homes sooner, not having to save for as long. If you didn't take the scheme, you'd be saving, presumably, 25% longer.

 

[jd2010]

Are there pricing caps on these?

 

[Oshka]

That maths doesn't check out. You've paid $750k for a house and walked away after sale with 1.2m.

Yeah, I cooked it.

 

[SM]

Yeah, I cooked it.

The way you phrased it made sense so I did a double take too haha.

 

[Zidane98]

Are there pricing caps on these?

There are. 750k I believe. Also you are ineligible over income limits.

 

[bok_party]

I've heard the saying wedding/home/baby/dog package many times from wifey


(only just completed the last part after 14 years lol)

Surely a woofer first!

 

[SM]

There are. 750k I believe. Also you are ineligible over income limits.

That's a bit s**t. Dunno why your salary should determine your ability to have 5-10 years of savings behind you.

 

[Cruyff14]

I've heard the saying wedding/home/baby/dog package many times from wifey


(only just completed the last part after 14 years lol)

My Mrs keeps hounding me for a dog.

The answer will remain no.

 

[SM]

My Mrs keeps hounding me for a dog.

The answer will remain no.

Why?

 

[chef]

My Mrs keeps hounding me for a dog.

The answer will remain no.

You bastard.

 

[Cruyff14]

Why?

Because she'll like it for a week and then it will become my responsibility full time.

You bastard.

Hahaha

 

[jd2010]

Cruffy is definitely a cat man

 

[Quivorir]

Cruffy is definitely a cat man

???

 

[chef]

Because she'll like it for a week and then it will become my responsibility full time.

and then you'll become best friends and love it.

Just do it.

 

[Cruyff14]

Cruffy is definitely a cat man

Hahaha nah I am allergic to cats. Mrs doesn't like cats, we'd never get one.

???

This is Art Vandelay_

and then you'll become best friends and love it.

Just do it.

Maybe one day when we have children. Also not a fan of picking up its s**t lol.

 

[Art Vandelay_]

My Mrs keeps hounding me for a dog.

The answer will remain no.

Happy Wife.
Happy Life.

Stupid Cruffy.

This is @Art Vandelay_

Wow. You're dead to me.
How insulting.

 

[Cruyff14]

Happy Wife.
Happy Life.

Stupid Cruffy.

Wow. You're dead to me.
How insulting.

Hahahaha

Hahahahahahahahahahahahhahahahaha

 

[SM]

Because she'll like it for a week and then it will become my responsibility full time.


Hahaha

What's the issue with that? Dogs are great. Also a bit harsh on your wife there lol.

 

[SM]

Hahaha nah I am allergic to cats. Mrs doesn't like cats, we'd never get one.


This is Art Vandelay_


Maybe one day when we have children. Also not a fan of picking up its sh*t lol.

And yet you want kids..