A dishevelled, tired-looking wisp of a man shuffles wearily down the dusty main street of a country town, somewhere in western NSW. His $800 suit discoloured and crinkled; his thick-rimmed designer glasses slightly skewed on his crooked nose. He sips at his takeaway coffee and recoils in disgust, shaking his head as he mumbles to himself, “It’s no Lonsdale St Roasters”. For he is no longer a man, but the shell of one. The shell of a man who once frolicked carefree in thriving Braddon, who once gallivanted around inner-city hubs, who once enjoyed #apslyf to the fullest extent. This destitute soul left all that behind to continue working for the Australian Taxation Office, now relocated 800km from the famous home of hipster baristas and tax-payer-funded APS degustation, the Braddon Bubble.
The Nation’s Capital
As fun as it would be watching a preppy Public Servant snarling at his perfectly acceptable morning coffee, the Perspective crew isn’t really on board with Team Decentralisation. They recently announced a policy by which “departments will need to either indicate that they’re suitable to move to the regions or justify why all or part of their operation is unsuitable [to move away from Canberra].” Continue reading
Ed is 15 years old. He is the 3rd of 5 children and still shares a room with his younger brother and sister. Living in a 3 bedroom ex-govvie with 1 bathroom is a bit of a squeeze, he admits, but his parents, Rob and Lydia, have worked extremely hard to get where they are, and he knows it. “We just make it work,” says Rob with a laugh. “The kids are all growing so it’s a bit like the house is getting smaller, but at least they’ve still got the backyard to play footy in.”
Domain.com recently published an article We don’t need so much space that we found quite pertinent to Ed’s situation. We delved deeper in an attempt to find an answer to one of the big questions in Australia at the moment: do we need this much room to live? Continue reading
There are three things that are certain in life in our western society: death, taxes, and rental horror stories. We’ve all heard the nightmarish accounts of what happened to friends of friends, and, if we’re unfortunate enough, we may just have a horror story all of our own.
Jessica has her own torrid tale, and agreed to share it with us in the hope that it might prevent even just one tenant from making the same mistakes she did.
We’re serious romantics here at Perspective. Nothing gives us goosebumps as much as good ol’ Boy meets House. Or Girl meets House. In fact, anytime someone wants to tell us the story of their first home purchase, we cancel all meetings and settle ourselves in with popcorn (although the powers that be have not yet approved the much-asked-for popcorn machine).
This week we caught up with first home buyer, Gabby, who’s story came with its own little twist, and we felt we had to share it. This time, Sister and Sister meet house. Yep, while some people can’t wait for a little space from their siblings, these two have committed to the foreseeable future of clothes swapping, shared meal times and a shared mortgage.
Today they shared how they did it.
We received a hot tip that you and your sister are very young first-home buyers. Is that true?
Yes, I guess so. I’m 23 and my sister, Maddy is 21. We just bought a new townhouse together, off-the-plan. Continue reading
“Seriously hard, looking for a loan is.” Such was the advice our miniature green friend, Master Yoda, gave a young Luke Skywalker, who was trawling through a myriad of Tatooine investment property options. For Skywalker, a freelance Jedi apprentice, a regular fortnightly pay day is in a proverbial galaxy, far, far away, and it turns out that many banks just won’t give him a look in as far as a home loan application goes.
Getting a loan is harder, still, when, like Skywalker, your income is neither steady nor regular, as is the experience of many sole traders. Feeling the pinch are freelancers, artists, self-starting entrepreneurs and anyone game enough to go out on their own and who hasn’t had the terrible misfortune of inheriting a squillion from dear old Great-Aunty Doris.
That’s not to say it’s impossible, but it means jumping through a lot more hoops than your everyday wage slave to persuade a lender to come to the party.
Banks, too, face many hurdles they have to clear to satisfy financial regulators like the Australian Securities and Investment Commission (ASIC) and the Australian Prudential Regulatory Authority (APRA). To avoid a repeat of the US sub-prime mortgage market debacle which ultimately led to the Global Financial Crisis of 2008, where hundreds of thousands of people defaulted on loans they couldn’t afford from banks who doled out loans hand over fist, Australia adopted a strict regulatory environment that has made banks highly wary of who they’ll fund.
The regime puts the onus on banks and other lending institutions to ensure that a borrower is able to service a loan – or face the lawmakers’ wrath.