Our application was accepted for the penthouse in the trendy South Yarra building. We figured out the total annual rent and I want to curl up in a ball and cry.
You cannot write off mortgage interest on your taxes in Australia. Also, we're told it will continue to be even more of a buyers' market in the next year, so it is better to wait to buy another house. In the mean time, we'll enjoy our sky rise view and swimming pool sized hot tub.
We were concerned that rentals are very competitive, though look at us here only 5 days and all squared away - how fortunate!
It was a "be careful what you wish for day" however. We went to an inspection (that means open house) for a beautiful townhouse this afternoon and I remember blurting "I like this TWICE as much as the (sky rise apartment)". We came home and made a spreadsheet. The scores for all the variables were almost the same and meanwhile, phone calls are coming through from the utilities companies ready to set us up for the first place. Gracious. Tom told them to call back, that we hadn't decided, which they did. There are services here that handle all your utilities for you at once. I can't imagine why they don't have in the US.
It came down to the fact that we could buy a regular old townhouse one day, but we probably won't buy a penthouse in a giant skyscraper ever. Hello, property value of stick built vs. adding association fees?!!! So this home will be our eccentric splurge and it is an amazing (conspicuous consumptiony?) view after all. I wonder if they give you a Louis Vuitton purse with a small dog in it when you move in or if I'll be the only girl without acrylic fingernails?
The last tenant was evicted and we agreed to do all the cleaning if they would let us move in early.
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