money money money 635 cost of living & mortgage costs, rental cap, fixed rate cliff, getting out of debt + more
Aug 28, 2023
The podcast discusses topics such as cutting down on lifestyle luxuries to take on a mortgage, rental freeze, fuel apps, capital gains tax for investors, steps to getting out of debt, the fixed rate cliff, finding a bathroom leak in a property being sold, and selling a property to family for the remainder of the mortgage.
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Weigh Lifestyle Versus Homeownership
- Decide whether owning a home is more valuable than current lifestyle luxuries before buying.
- Do the numbers: if small lifestyle cuts make a mortgage affordable, consider buying to lock accommodation costs.
Personal Rent Frustration Example
- Glenn recounts hating renting due to unresponsive property managers and maintenance issues.
- He uses his own rent doubling example to illustrate why stability from owning matters to some people.
One-Bedroom Asset Limitations
- One-bedroom apartments can be poor wealth engines because oversupply keeps both rents and prices stagnant.
- Asset type matters: apartments offer lifestyle convenience but limited capital-growth compared with houses.