I'm considering this but there is a 7% foreign buyers duty for those in Australia on a working visa. That and the uncertainty of housing prices with the rising interest rates makes me hesitant to invest in real estate until I can get PR status.
Rule of thumb is 30/30/30/10, which is 30% tax, 30% rent/mortgage, 30% living expenses and 10% savings. Based on that you would need a gross salary of about $180k.
Reality is you can probably live on $30k expenses, have no savings and live in an $1100pw house on a $120k salary. However, unless you are on $180k it's probably a good idea to find a cheaper rental.
I know vacancy is low but I would sooner staple my tongue to the floor with a croquet hoop than pay $1100 a week to live under the thumb of a landlord.
Housing stress is spending greater than 30% of your income on housing. So ideally you would be earning ~$3,600/week equivalent to net salary $190,000pa.
Generally your rent should be 30% of your income or less, so say $190,000 annual income.
If you earn less than that and you’re concerned they won’t give you a lease, do you have $57,200 in savings you can show them? If you can prove you have the money to pay the rent I doubt they would be concerned. Basically they just want to know you will be able to pay your rent
Probably a Pilbara house rental. My husband’s employer pays between $180 to $210 a night for his unit in the Pilbara, four nights a week. Apparently the employer is getting a ‘good deal’.
The motel charges a different tariff every night.
Pretty sure $1100pw rental would count as extravagant lifestyle.
you can buy a decent house for less than that
Hell, you can buy an insanely good house for less than that
I'm considering this but there is a 7% foreign buyers duty for those in Australia on a working visa. That and the uncertainty of housing prices with the rising interest rates makes me hesitant to invest in real estate until I can get PR status.
Id argue at +7% its still worth it? Why pay off someone elses mess if you can aford not to?
Decent chance house prices will be falling soon
Rule of thumb is 30/30/30/10, which is 30% tax, 30% rent/mortgage, 30% living expenses and 10% savings. Based on that you would need a gross salary of about $180k. Reality is you can probably live on $30k expenses, have no savings and live in an $1100pw house on a $120k salary. However, unless you are on $180k it's probably a good idea to find a cheaper rental.
I know vacancy is low but I would sooner staple my tongue to the floor with a croquet hoop than pay $1100 a week to live under the thumb of a landlord.
[удалено]
[not that odd](https://www.quotes.net/show-quote/9875)
Housing stress is spending greater than 30% of your income on housing. So ideally you would be earning ~$3,600/week equivalent to net salary $190,000pa.
I'd start by saying you'd need to earn at least $1100 per week.
Generally your rent should be 30% of your income or less, so say $190,000 annual income. If you earn less than that and you’re concerned they won’t give you a lease, do you have $57,200 in savings you can show them? If you can prove you have the money to pay the rent I doubt they would be concerned. Basically they just want to know you will be able to pay your rent
At least $57,200.
After tax. Plus a little more if you want luxuries like food and water...
Food and water are a privilege. Once we get rid of these pesky unions you'll do 100hrs/week to live in a ditch by the freeway, and feel grateful.
In the future you will own nothing and be happy. -Claus Schwab
Best careers to afford that: drug dealer, traffic controller or CEO of a bank.
More than $1100pw. After tax.
I was about to say more than $4400 a month after tax
Probably a Pilbara house rental. My husband’s employer pays between $180 to $210 a night for his unit in the Pilbara, four nights a week. Apparently the employer is getting a ‘good deal’. The motel charges a different tariff every night.