Thursday, August 31, 2006

Low Rent Living

Moving into a new country and a new city one of the first decisions that you need to make is renting a house. This rant is my experience with dealing with Indian students only!

When I moved into Adelaide almost 18 months back I started living with a couple of Indian students. In the next two months I met many people, saw their houses and at the end decided to rent a subsidized university accomodation in an 'Ok' suburb.

My wife was happy with my decision and after a year, we moved a leg up into a slightly bigger house but still a low rent subsidized housing but now in a better suburb (whatever that means).

Our campus was located in the city to enable part-timers to come from work to school. Some of the students decided to stay near to the City (the CBD) which would enable them to access the university easily and use the Uni provided transport.

This meant paying higher rent every week for 100 weeks.

My simple calculation was that, house rent was a fixed expense. And due to the lease contracts you are stuck with them for atleast a year. This meant that the rent should be the least you can possible manage. Just this decision will save me more than $6000 compared to some of my friends in the 2 years. This is including the move to the new house.

As a student that's a decent sized money, enough to pay three courses or financed our Car, our melbourne and brisbane trip and still save!

In this year we have been meeting many couples who have settled down here. They have started to look for houses to buy. Interestingly the most important decision forpeople who are working for atleast 2 years (in Australia from overseas) is to buy a home, take a mortgage and pay it for 20 years.

Not that owning a home is a bad thing, especially now with the housing market tanking in Australia, it could be a good buy too. However, is this better than low-rent living.

Low-rent living provides options to save, have flexibility, not get stuck with a job you don't like, start a business with the money you saved, invest in stock markets and just plain peace of mind.

Next year when I finish my education, we will not buy a house. We rather start a business!

This rant of mine has been inspired by this post on low-rent living on the Chief Happiness Officer blog.

13 Comments:

Blogger Ram Dhan Yadav said...

Suhit,

Good to see your post. By buying a house, you will be able to accumulate equity which you can cash out to start your business. The situations in Australia could be different, but I would suggest not to look at buying a house as a liability. My 0.02 cents.

31 August, 2006 12:27  
Blogger Vishal Sharma said...

I will suggest you to buy a house, because
you could use 30% equity value worth of yr mortgage to get a decent loan to set up yr business. Without that you might not get a decent upfront money and dont forget that the money in repayments (EMI) can be used any time if u need money.

Vishal

08 September, 2006 14:07  
Blogger AspirantHunt said...

Hello,

We have launched AspirantHunt, a platform for connecting MBA aspirants with admission committees of business schools looking for the right fit for their schools.

AspirantHunt helps in finding business schools that meet the needs of MBA aspirants. Register in less than a minute, fill your details, GMAT scores etc and you are ready to get hunted by the B-Schools looking out here for potential candidates.

You can also hear about the chances of getting into the b-schools you have dreamt for from our experts free of cost.

Please have a look into it
http://www.aspiranthunt.com

If you like this service then May I ask you to put a link to AspirantHunt on your blog.


Wish you all the best
AspirantHunt Team
AspirantHunt - Connecting MBA Aspirants to the Best Business Schools

05 August, 2007 19:06  
Blogger samlyons23 said...

I've been renting for a few years now, but my landlord has run into some financial difficulty and has decided to use a sell and rent back scheme. I'm sure that I have some rights as a tenant, so I was wondering what the laws are with regards using one of these schemes and selling with a sitting tenant?

25 July, 2008 01:25  
Anonymous wow gold kaufen said...

What if you are thinking to Buy WOW Gold from Germany? You are ready to spend money to buy wow Gold but you are not sure where to Buy Wow Gold. You can type wow gold kaufen in Google and you can see second site . Randy run .de you can purchase from there easily.

24 July, 2009 20:57  
Blogger aiai said...

For a pair of sleek gloves that would look great with your suit, pick up the Ross Gloves Italian Sheepskin Gloves with Cashmere lining. These gloves are perfect for those who live in metropolitan areas
spyder skiwhere the temperatures drop in the winter because these gloves are lined with extra warm and soft cashmere for that added layer of spyderwarmth and insulation. The premium Italian lambskin will mold to your hands in a close fit and the slim lines of this glove are convenient enough to slip into your pockets when not neededspyder jacket.

For a great pair of gloves that will keep up with you on the slopes even spyder ski wearin the harshest of temperatures, pick up the Burton' Gore-Tex Under Gloves for $64.95. The Thermacore insulation on these ski jacketgloves will keep your fingers warm even when the freezing wind and slate beats down on you. spyderThe DryRide Ultrashell combined with the Gore-Tex Insert ensures that nothing will get your fingers wet. spyderThe hidden heater and vent pocket stashes extra warmth on the cold days and dumps spyder jacketsexcess heat in the spring. spyder ski wearIf you are worried about your goggles getting steamed up, these gloves help solve that problem with the soft chamois goggle wipe which will keep your vision clear.

12 June, 2010 11:28  
Blogger yingying said...

Do you have a lot of trouble styling your hair? You may want to consider getting a GHD hair straightener. The GHD company includes many features in their product line which makes a GHD hair straightener superior to others on the market.
pink ghdIt has a variety of different types and colors that are popular with girls and women. GHD IV Salon StylerThese types range are Pink GHD,GHD IV Salon Styler , Rare GHD and Purple GHD. The limited edition Pink GHD is a great gift for any young teenager for your Christmas and New Year’s gift.GHD IV Salon Styler has new features such as safety cut-off,dual-voltage,shiver protection and a DVD demonstration.
Rare ghdA wild leopard design Rare GHD with ultimate surface for the static free sheen has improved temperature control,new sleep mode,universal voltage and advanced ceramic heaters. purple ghdThe Purple GHD is the best choice for mother’s Day.

17 June, 2010 22:58  
Blogger Davenz said...

I like this blog!

Regards

custom doors

05 August, 2010 02:49  
Blogger barbara said...

I appreciate it very much, at least I know from it someone is reading the contents.
Work From Home Businesses In Australia

18 September, 2010 20:58  
Blogger zXc said...

Gucci black bag
order burberry check tote
order bottega
buy anya hindmarch
purchase dolce & gabbana bag
purchase miu miu red wallet
buy valentino beige snakeskin
Another significant matter that makes cocker wearable nonsuch is when they are made of virgin innate material. Organic coddle outfits are extremely recommended by near experts as they are rubber and balmy on infants' fragile pelt. They are constitutional as they were crafted with 100% lifelike material that comes from plants grownup without victimization any pesticides, antibiotics, and over-the-counter chemical-based solutions.
2. Consider the sizing of habiliment. Sizes of cosset apparel deviate unlike manufacturers that differentiate on babe enclothe. When purchasing, prefer a sizing that is larger than his/her baby age. This would besides pee-pee sensation if hither's a lot of wear the mom has standard from former guests. This plainly substance yours leave decidedly get ill-used as babe couldn't suffer too many larger sizes of clothes given during the baby shower.
buy chanel bronze
order marc jacobs
buy salvatore ferragamos
buy mulberry grey hobo
purchase balenciaga purple
buy jimmy choo

18 October, 2010 01:08  
Blogger barbara said...

It’s very good post! Congratulations! I really enjoyed to reading your blog. Thanks for share all this information.
helen protasova

11 November, 2010 21:38  
Blogger prem said...

we have designed a site for the MBA aspirants... It contain all the required information an aspirant needs....

01 December, 2010 17:52  
Anonymous Sarah Jo said...

It’s very good post! Congratulations! Thanks for share all this information. I really enjoyed to reading your blog.

30 December, 2010 01:32  

Post a Comment

<< Home