The view of the bridge at nights gonna be amazing . Im trying to pick the spot; Horawh heights? Mornington hill? Either way a nice area.

10 years isn't the rest of my life... Rather have a new house that i can do whatever i want to than rent

That is one of the most ridiculous posts I've ever read.....your still going to have to "use money I have to get" to pay the rent (or be kicked out) and all you are doing is paying off someone else's mortgage.

There is good and bad debt, a mortgage is a good debt. I bought my first house 10+ years ago and have moved once, I took the mortgage over the max period and i've just watched my equity in my house grow and grow to quite a substantial figure (admitedly on paper)....the easiest money you'll ever make.

As opposed to some mates that had the same attitude as you back then and now have changed thier minds, but have left it too late and now cant get into the market (where they want to live).

Congratulations Elm.

Yeah...no.

Pay the bank and actually OWN something, or pay the landlord and have NOTHING.

I'm glad i'm paying the bank tbh.

How embarrassing it must feel to be you right now.

Rent = paying for something that isn't yours.
Mortgage - essentially the same as rent except in the end you own it.

Hrmm, such a tough decision, pay for something and not get it, or pay for something and make money.
I dunno, I think I'll just continue making somebodies life easier while making mine harder.
/sarcasm off.

Buying a house, (if you are smart) works out to be one of the best investments a person will ever make, if you pick your area right you always make money on it, and you can eventually use the house as equity to draw a second mortgage for an investment property. (Presuming you can't just pay for it outright)

Well spotted Tydus, Mornington Heights actually.

And...

It's all ours! We move in end of November. Valuation approved, bank loan approved, all good!

Congrats, housewarming at yours?

Nice

wow congratulations.
looks like a nice place!

my family just bought a new house too, moving nov 17th.
we've been renting this house for 17 years (3-4 months after i was born) and we finally own a place. feels amazing..
too bad we have 17 years of stuff to pack/throw out!
that's the fun part
in fact i have a skip bin sitting in my driveway that we hired 2 days ago. it's full already hahaha!

Crazy, go past this house all the time on the bus.

Congrats, it's still a good time to buy with interest rates still kinda low though that'll change over time.

It's not necessarily a bad thing to rent, IF you used the money you'd have left over (from not paying a mortgage), to invest in some other areas. But property is pretty much a safe long term investment and if you fsck up your other investments then you're screwed. Personally I like to own my own house (building right now actually) as I want the freedom to do what I want with my own property and not piss fart around with landlords. My work is currently paying for my rent...and its still a pain in the arse dealing with real estate companies. The sooner my house is finished the better.

At one stage i'd moved houses 4 times in 3 years. I cut alot of the junk out... Probably got another move coming up soon, so i'll ditch the junk again.

Can't understand why people hoard stuff

Haha, I'm the same... On my third house in 2 years, and will be moving again early next year. Yet each time I move I've seemed to have tripled my belongings

It works out quite well if you are dead by (or soon after) retirement age.

Well my house settles on Tuesday - excited, but hating the last hic up. Need to get another $5k to cover LMI. Oh the joy of it all.