will a lockdown be likely

hi everyone.

wondered what is the chance of a lockdown in south australia or certain restrictions closing accomodation places.

wondering because the property that am living at isnt very big and at a stage of wanting own space to have privacy to do things and to isolate separate.

the reason for having a question and that lockdowns and restrictions are hard especially for me is that because of the property not being big enough to have privacy and wanting own space and cabins and apartments are about as close as am going to get to own space and it could be 10 years before am able to do anything about it.

when lockdowns and restrictions come that could close down the only option at moment to have your own space might get shut down again and you never know when itll happen and for how long.

what options is there that wont possibly have to close at any time and is unknown when it can re open, just dont want to rent and pay heaps and wondered what options there are that wont have to close at anytime without renting.

what are clues that its time for your own house and what could you do to hang on until you can buy and not pay for rent when you cant do the things that you want to do without asking and not knowing if youll have to shift

 

No one can see the future but unless a new and even deadlier variant hits I would predict almost zero chance. We’re all ready to move on.

 

Try offsetting your risk with Centrebet, Waterhouse or one of the specialist betting agencies - you may get reasonable odds to cover the risks.

(Not financial advice, see a professional or an SP bookie).

 

Reason why lockdown is hard is because don’t have own space yet

 

It's your life no one else's, stop waiting for clues/someone on a forum to tell you what you should do.
You know what you want to do better than anyone else.
Take control.

 

At moment am doing everything possible and can’t do anymore than am already doing and don’t want to rent and not be able to do the things you want to do to place and pay as much so am waiting until am able to buy

therefore wondered what cheap options there are that doesn’t have to close at anytime for a unknown time

 

When the pain of renting outweighs the pain of pulling the trigger on a mortgage.

 

Buy a roadhouse in a remote area servicing an important freight route.

 

Yup. I rented for 15 years. Loved it. Massive tax benefits, improved serviceability, incredible location, and if you can nail things in the walls and do a lot of what people say you can't do in rentals. I mean if it's benefited me to the tune of say $500k (in improved serviceability, cap gains, tax benefits) then why would I worry about losing my $2k in bond when I move out?

But then the landlord started becoming a ****, so I thought ok the time has come, I'll buy a PPOR.

Renting is great. The term "rent money is dead money" is just stupid. But when the benefits are no longer there, it's time to change strategy.

 

Just want to own so you don’t have to ask permission to do something

what are clues that it’s time to move into own place and what else can you do to hang on until you can buy and what other cheap options are there that won’t possibly close at any time.

the reasons why lockdowns and some restrictions are hard is because am at a stage of wanting own space and property is small and live with other people and yards not big enough and there’s no privacy and can’t yet afford own space and waiting until am able to buy.

Am at a stage of needing own space and the closest that am going to get is accomodation places and that usually closes during shutdown and trying to do best with what have got at moment.

That’s reason why lockdowns and isolating is hard because am at stage of needing own space and live with others and property isn’t big enough and it may be 10 years before am able to do anything about it because of wanting to buy and buying takes time for everyone

 

Post of the day!
I always thought I was the only one in Australia who dared to think as wildly out of the box as yourself.

 

If you are house sharing move to a different/less populated share house would be the most obvious.

Failing that, get your own place which for the same price will be a 'less desirable property' than where you are now. Upto you to balance the priorities.

 

What is a way to have a professional office setup for minimum cost until you can buy your own place.

waiting until there’s 20% minimum for a deposit, you will get away with 10% sometimes even 5% on certain condition but it’s best to try come up with 20% deposit as you’ll avoid the lmi plus you’ll have a better chance of being approved as it’ll show banks you can save.

also it is possible to run a house on centrelink alone but you don’t have a quality of life as there’s little left by time you work out your bills.

what cheap accomodation options are there that won’t possibly have to close at anytime with coronavirus that are cheaper than trying to take on a big loan before you’re ready.

how do you get cheaper accomodation that’s as comfortable as a cabin and apartment that doesn’t take hours to setup if you don’t have a van and usually can get change out of $50 a night on a site

 

If place was big enough it wouldn’t matter if it took 15 years to do something

 

Nails in the walls will never be picked up through an inspection. I've also painted my entire apartment - if it's gone from dirty white to clean white, they just assume you cleaned really well.

You can install stuff, nail, cut, glue etc, as long as it's not a huge reno.

Should you ask for permission? Technically yes, but very few landlords would approve. Will you lose your bond? Probably. But as I said, it's about opportunity cost. Say rentvesting allows you to borrow enough to buy another house that you otherwise couldn't have, and that doubles from 500k to $1m. Are you really going to worry about losing your bond? Now say all the tax benefits have also earned you another 100k over 10 years. I could pay for a full strip down renovation and still end up financially ahead. It's just a matter of perspective.

 

Unfortunately, it sounds like you're expecting people to have a crystal ball and a whole heap of 'magic solutions', when there actually aren't any. The reality is that nobody knows what's just around the corner (in terms of events and timelines), and everybody makes decisions based on the knowledge that they have available at that time, and within their financial means.

There's no magic 'right time' to buy, and for many people, it's a matter of waiting until they have the funds available. As we already know, many people who, only a short time ago, had planned/hoped to recently buy their own place are currently not able to do so. Does this mean that they will never be able to? Who knows! I hope not, for their sakes. But, like dealing with most problems, often the solutions aren't available to us just because we want them to be.

It sounds like you're struggling with a lot happening in your life right now, and I'm sorry to hear that. I know a lot of people struggled with being confined and lockdowns over the past two years. However, nobody on an investment forum (or anywhere on the planet, for that matter) has a magic wand to help you sort out your struggles and concerns, and nobody has any idea where they/their community/the country/our planet will be at any point in the future. Sometimes, life just sucks. Sometimes it doesn't. I hope you manage to find a solution/response that makes you happy.

 

Also place am working at is for sale and when it sells and the current owners are out then will be moving on to something else as by then done it about 15 years and after 15 years in the food industry that’s fast paced and barely a break am just feeling tired and feel it’s time to get out.

also if new owners want to keep you how do you professionally say no or say you’ve moved on now or ask if you can work more in the secondhand side as the place also sells secondhand stuff and it can be just as busy.

also if it does come to staying how long should you stay with new owners as been with old ones at same place for about 15 years and would have thought there would be a minimum ideal time to stay at a work place to not appear a job hopper.

Also if it comes to staying how do you professionally leave when you’ve found something else or have consistent work with your business.

as you’s all know renting is these days as expensive as it is to buy plus you may have to move at anytime and you can’t really do the things you want to do and because of being at that stage the lockdown and isolation is harder as current property isn’t big enough and the only option at moment may close at anytime and trying to do what older generations did and try and do your best with what you have until you get what you want

if you had your own space isolating and lockdown would only just be a bit inconvenient compared to now