The off topic thread 5.0

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Zidane98

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Dec 22, 2009
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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 :D:D:D


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

Zidane98

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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

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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.
 

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SM

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Aug 3, 2008
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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.
 

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Cruyff14

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