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Offline dragonsgirl

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planning a round oz trip
« on: February 03, 2011, 04:28:14 PM »
Just a question for those who have done this I am interested in pros and cons and what you all did with your house.  Did you sell it then start again when you got back or did you rent it out so you had something to come back to.
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Offline Lowlander

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Re: planning a round oz trip
« Reply #1 on: February 03, 2011, 05:58:00 PM »
KEEP IT!!
We met a couple in Esperance in WA that sold up right at the start of the property boom and purchased a caravan... they where spewing.... probably would've made 100 plus grand on their home too..

Rent it out, board up your garage and put furniture etc in it or put it in storage. ALWAYS stay in the property market! ;D
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Offline Kit_e_kat9

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Re: planning a round oz trip
« Reply #2 on: February 03, 2011, 06:51:42 PM »


What Benny said. 

Home owners have an asset that (mostly) improves in value and is somewhere to return to when all places have been visited.  The CT is just like a car ... drive it off the block and start losing $ immediately and you will likely use the profits of the house sale to fund the trip leaving you shorter of $ in the long run.

Kit_e
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Offline JCAT

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Re: planning a round oz trip
« Reply #3 on: February 03, 2011, 10:32:19 PM »
Sold it and then purchased a block of land before we took off.

That way I couldn't be impulsive, keep travelling and keep spending.

We had out grown our 1st house though and were ready to upgrade.

It allowed us to travel without a care in the world, just living off my holiday pay and long service, no bills except for petrol, accomodation and food.

Thinking about doing the same when I hit 20 years and get my next lot of 3 months.
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Offline SteveandViv

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Re: planning a round oz trip
« Reply #4 on: February 03, 2011, 11:40:16 PM »
We kept ours. Stuff under the house locked up plus all the good stuff in storage
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Offline speewa158

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Re: planning a round oz trip
« Reply #5 on: February 04, 2011, 05:46:55 AM »
Keep the house , rent it out , polnk a 20 ft container in the backyard . Shove your gear into this , lock it & insure it to the hilt . Then you have income & assets . then GO Enjoy  :cheers:
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Offline JCOJ

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Re: planning a round oz trip
« Reply #6 on: February 04, 2011, 03:54:24 PM »
As a Real Estate Agent my advice would be...don't sell.  Your house is an appreciating asset over time.  To sell now and buy again later including agents fees and stamp duty will be around $40k.  This, plus the capital gain if you did keep your house, could be up to $100k over 12 months.

Rent it out which will either pay hopefully the majority of your mortgage while you are away or if you are mortagage free, give you an income while you are away.  
« Last Edit: February 04, 2011, 03:56:40 PM by JKohn »
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Offline tonyw

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Re: planning a round oz trip
« Reply #7 on: February 04, 2011, 07:18:59 PM »
Our plans are to rent our house out and store what we havent sold in the garage.

Have a close friend who owns a real estate company and he will be looking after our property.

Capital gains on the property will far outweigh any interests from moneys in the bank and we will still have it when we decide to return.

 8)
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