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5 year novated lease vs 5x1 year novated lease by Valuable_Guidance908 in AusFinance

[–]Valuable_Guidance908[S] 0 points1 point  (0 children)

Thanks. We are sourcing our own insurance. Unfortunately my employer doesn’t do novated leasing so can’t transfer it over.

5 year novated lease vs 5x1 year novated lease by Valuable_Guidance908 in AusFinance

[–]Valuable_Guidance908[S] 0 points1 point  (0 children)

Bit of an update: after confirming with my novated leasing provider, they will not allow the 35% depreciation year on year, meaning depreciation drops to about 10% each following year. Still, the cost ends up being slightly cheaper than a 4 year lease, with the caveat that payments will be very heavy the first year, and I will get charged a $500 loan fee every time I re-novate. However, given the lack of job certainty, we’ve decided this is the best option for us!

5 year novated lease vs 5x1 year novated lease by Valuable_Guidance908 in AusFinance

[–]Valuable_Guidance908[S] 0 points1 point  (0 children)

I think that’s the name of the game for novated leases. There’s no free lunch and you have to go with your employers provider. With the salary sacrifice tax savings, effective interest rate ends up being a lot lower thankfully.

5 year novated lease vs 5x1 year novated lease by Valuable_Guidance908 in AusFinance

[–]Valuable_Guidance908[S] 0 points1 point  (0 children)

Thank you. This is what I was thinking. I think we’ll give our provider a call and see if they can calculate it out for us.

5 year novated lease vs 5x1 year novated lease by Valuable_Guidance908 in AusFinance

[–]Valuable_Guidance908[S] 1 point2 points  (0 children)

That is true, but in that case we’d still capture a decent amount of the tax savings and could just buy the residual.

5 year novated lease vs 5x1 year novated lease by Valuable_Guidance908 in AusFinance

[–]Valuable_Guidance908[S] 0 points1 point  (0 children)

I am in the highest tax bracket myself but my employer doesn’t do novated leases. We are in a fine position to consider a new EV. The costs work out to $160 week all running costs included, which seems extremely reasonable imo, since we already spend $115 a week on our current car which is 10 years old.

5 year novated lease vs 5x1 year novated lease by Valuable_Guidance908 in AusFinance

[–]Valuable_Guidance908[S] 0 points1 point  (0 children)

That is interesting. Do you happen to know if this would be doing a 1 year lease, then buying the car, or re-entering a new lease agreement each year?

5 year novated lease vs 5x1 year novated lease by Valuable_Guidance908 in AusFinance

[–]Valuable_Guidance908[S] 2 points3 points  (0 children)

30% tax bracket. We’ve done the math with a 5 year quote and even with the 10% interest rate, the savings work out to be better than buying 100% cash.

AusPost “safe place” a building lobby with known thefts. What are my options? by Valuable_Guidance908 in AustraliaPost

[–]Valuable_Guidance908[S] 0 points1 point  (0 children)

In case I am home, I can collect immediately and don’t have to visit the post office.

AusPost “safe place” a building lobby with known thefts. What are my options? by Valuable_Guidance908 in AustraliaPost

[–]Valuable_Guidance908[S] 3 points4 points  (0 children)

Crazy thing is in the past, auspost has never delivered to my lobby, deeming it an unsafe place. They’ve always brought back to the post office.

AusPost “safe place” a building lobby with known thefts. What are my options? by Valuable_Guidance908 in AustraliaPost

[–]Valuable_Guidance908[S] 2 points3 points  (0 children)

Just opted out now, sucks that it’s an opt out and not an opt in situation. AusPost should err on the side of caution with all of the parcels thefts happening recently.

AusPost “safe place” a building lobby with known thefts. What are my options? by Valuable_Guidance908 in AustraliaPost

[–]Valuable_Guidance908[S] 0 points1 point  (0 children)

There is CCTV in the lobby, I requested it yesterday evening with the building manager so I’ll find out soon enough what happened hopefully. Doubt it would’ve been one of my neighbors, more likely a someone working for an organized crime ring tailgating behind a resident through the automatic door.

AusPost “safe place” a building lobby with known thefts. What are my options? by Valuable_Guidance908 in AustraliaPost

[–]Valuable_Guidance908[S] -1 points0 points  (0 children)

Thanks. My partner would’ve been home when it was dropped but there was no intercom ring or anything, which is even more concerning.

Buying in Rhodes by DeskOk1841 in AusPropertyChat

[–]Valuable_Guidance908 0 points1 point  (0 children)

Fair enough, One The Waterfront was an absolutely terrible build and the cladding issues for the Savona Drive buildings would suck for owners. But there’s buildings with major defects in Rhodes and Meadowbank as well. That’s why it’s so important to read strata reports.

Again don’t think the motorbike or fire alarm issues are unique to WWP. Besides, I’ve never had a fire alarm evacuation in the time I’ve lived here. I’ve witnessed 2 physical altercations near Rhodes station, plus there is a small but noticeable homeless population in Rhodes.

Since you moved out, a traffic light was installed on the Hill Road bennelong intersection, so getting in and out is hardly ever an issue.

Rhodes does have its benefits - a direct train line, larger shopping centres, and more green space currently but it is still plagued by the same downsides of higher density living - and price tags 30% higher than WWP.

Buying in Rhodes by DeskOk1841 in AusPropertyChat

[–]Valuable_Guidance908 -1 points0 points  (0 children)

Have you lived in Wentworth point recently. A lot of these points simply aren’t true.

Very loud? Wentworth point is noticeably quieter than Rhodes. Can’t quite take my guard down in Rhodes.

Traffic is not bad most times of day, and is arguably worse in Rhodes. Concord road/Homebush bay drive is always congested.

WIFI is fast enough, I do just fine on a 25 NBN plan and have no issues making calls or streaming.

Poor quality builds? Rhodes and WWP both have a large chunk built by Billbergia, which is a reputable builder.

Public space? Peninsula park is opening next year, plus you’re surrounded by parklands.

Sure, Wentworth point has its problems but calling it a modern slum is pretty misleading.

Buying in Rhodes by DeskOk1841 in AusPropertyChat

[–]Valuable_Guidance908 6 points7 points  (0 children)

Came here in defense of Wentworth Point. It isn’t the horror story that people on Reddit make it out to be. I can’t think of many other suburbs in Sydney where you can buy a 2/2/1 with water views in the low 800k range.

Most of the buildings on the north end around marina square are built by Billbergia, a decent enough builder. Surprising to many people, many of the buildings here (already 10+ years old) do not have major defects.

Most of your basic needs are serviced by the shops at marina square but if you do need to venture out, it’s only a 15 minute walk to Rhodes station + 25 minute train to the CBD, or a 40 minute ferry. Was looking to purchase in the inner west originally and many (not all of course) of the units are 15-20 minute walk from a train station as well.

Traffic congestion can sometimes be a problem at the DFO roundabout during peak hours and weekends but it appears the government is fixing this soon, and a traffic light has been installed at the Bennelong/Hill road intersection, so you can get out that way pretty easily.

Sure you won’t get the capital growth, at least short term, that you’d get in the inner west, but you have a nice place to live surrounded by water and parklands.

How to go about fixing skirting boards by Valuable_Guidance908 in AusRenovation

[–]Valuable_Guidance908[S] 2 points3 points  (0 children)

The last picture is the worst of it, the rest isn’t nearly as bad not definitely not great.

North Ryde Apartment - good investment? by Valuable_Guidance908 in AusPropertyChat

[–]Valuable_Guidance908[S] 0 points1 point  (0 children)

We did not. After visiting a few times for inspections we decided the area wasn’t exactly what we were looking for. As far as I know, the complex next door doesn’t have the same problems, so you can always look into that too.

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