Wednesday, April 11, 2012

Sacrifices and Savings

A few weeks ago when we were in Melbourne we had decided on an area that we would like to live.
But since then we have done a complete 360 and have decided on something very very different.

We have decided to make a bit of a sacrifice living wise and have chosen to live out North a bit and closer to my parents. We have decided to do this to save some money for a good 6 months so that we can buy another house and still be able to keep our terrace in Sydney.

So out to 'the burbs' we go... Renting a brand new 3 br house for $320 a week! 
It seems to be the nicest of the new estates in the area. It's called Laurimar Estate. The house is surrounded by parkland and there is a small 'town centre' with a Woolies, a few small cafes, takeaways etc... and it's all within comfortable walking distance (and walking around my beautiful Balmain I'm plenty used to it!)

It's not exactly where we want to be, but we will be around $2000 a month in front of where we currently are with our expenses and that's a huge saving! And then the tax breaks will add up even more!

Here is Erin and Abi as we were going go to look at the house.  Suiting 'the burbs' lifestyle???

Ever made a sacrifice like this? How did it turn out for you?


  1. Hubby and I were always doing this. It works out for us. The only problem is, we shouldn't of come back to Sydney.

    We were saving so much being out of Sydney, and living in lovely homes, not now :(

  2. My partner and I are considering it.. A move to Canberra so he can get a good paying public service job and we can save for a much wanted house in Sydney. We currently live in the Inner West and rent is so high! We'll be saving another 5 years or so before we can buy something 'decent' in Sydney whereas we could afford something we want in Canberra now.

  3. I have a few friends in that area and they all love it. There is a decent shopping centre nearby (Plenty Valley) and it really isn't too far from the city and inner suburbs. Good luck with the move!

  4. Rhiannon, I totally understand! We are getting CRAZY rent for our little 2 br terrace! We may even consider buying again in Inner West and renting in Melb, but more where we want to be later on. Both the rental return and the potential to gain great equity in property in the inner West is fantastic!
    TJ my parents are close too, they have a beautiful 'farm' in Whittlesea so I know the area quite well!
    Thanks for the vote of confidence Leah!

  5. Sounds like its all going great guns for you guys. I don't think you're sacrificing but rather setting yourselves up for even greater things :)

  6. We bought a small apartment (which was reasonably priced) & will be a good rental if we decide to keep it, or we will make a profit if we sell it for something we do like. I don't really like apartment living but I'm so close to work & if I tough it out a bit longer we can look at getting a house in an area I do want to live!

  7. Sammie, congrats on finding a new home to live in.

    I know what you mean about sacrifices and savings. I feel like I've been doing this since I can remember. MrBB and I originally bought an apartment in inner west Sydney. A house was too expensive for us. The plan was to upgrade to a house later, instead we ended up buying another unit (also in the inner west), just when we thought we could afford to buy a house, we realised we'd need to have my parents close because of the kids and because I made a deal to buy my parents a place near us so they could sell their place and have money to enjoy their retirement, but at the moment we're still saving for a deposit. So with all this, we ended up near the sticks, 30kms away from Sydney centre. We do own our house outright now as we moved the equity we built in our units to it. But now we have 2 mortages on those 2 inner sydney units (you are so right. The rental returns we get on them is ridiculously crazy!). Once the time comes, getting used to 3 mortgages will be hard. But I know that at least my parents will be happy, and we will be on our way to making sure our retirement plans come to fruition.

    I wish you and your family all the best! Your sacrifices and savings now will undoubtedly bear a lot of happiness later on :)

  8. Um yes! Currently Living in the middle of the desert 1400km from family & friends! Hope that if we spend a few years up here and do the hard yards now it will take the pressure off later on. Definitely feels like a sacrifice. Good luck with the move, sounds like you've made a smart decision xx

  9. Sounds like a very smart move. I not a big fan of the suburbs (I grew up in the burbs!) but I've been thinking about 'sacrifices and savings' too and where we want to live eventually. The great Aussie dream!!

  10. My god, $320 a week! I almost fainted from jealousy. It does sound like a great area! Every suburb has pluses and minuses.

    But, like Sass, I grew up in a suburban town and never again! Perhaps when I'm willing to commit to making my own coffee and working from home.

  11. Wow, good on your for making biting the bullet and making such a bold decision. I hope all goes well for you and your family...
    Ronnie xo
    p.s. I found your blog via Lila's blog!


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