No wonder it’s so hard to pay that mortgage!!

October 5th, 2009

Well, it’s official – Australia is now the least affordable place to buy a property when adjusted for median incomes in see-saw-dollarsthe world –  No wonder times feel so tough! Sydney, Melbourne, Brisbane, Adelaide and Perth all appeared amongst the world’s most expensive cities to buy property, and fluctuating interest rates are hurting people too says a new report out of the US. (Full article can be seen here care of The Age)

Many people are struggling to keep their houses, and entering the property market is out of reach of many Aussies these days.  If you own your own home, you know just how much a quarter percent fluctuation in the interest rate can hit you, so both saving a little here and there, and also maximising your house’s inherent income producing potential (yes – your house can make you cash, see how on this video) has never been more important.

We at SpaceOut get asked regularly “Is it realisitic to rent out spare space in my home” and the answer is of course yes it is and people all over the country are already doing it! Click on the Search for space link at the top of this page and see how people are doing it, and get in early in your neibourhood. Offsetting interest rate changes through your house is not only rewarding, but can make all the difference in tough times.

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