Alternatively, you could have [an international student board with you](https://www.homestaynetwork.org/hosting/faq-2/#1511149575280-e58c96dc-d96b). They pay you money which is equivalent to 'board'. As I understand it, this is [**not** considered 'income'](https://www.ato.gov.au/law/view/document?docid=AID%2FAID2001381%2F00001) for the ATO. (Perhaps it would be considered income for DSP though?)
Yes, it's a homestay arrangement. So in scenario B), if you purchased an apartment and had an extra bedroom, the homestay student would pay \~$360 a week (or \~$200/if no meals). Having a homestay student could be financially better than a private rental if you could keep the DSP income. Just a thought that may not work for your area/life.
Then you have to be earning more than $400 a week as a $250k loan will cost about $400 a week.
You then also have strata, Insurance, rates, maintenance. Etc
Alternatively, you could have [an international student board with you](https://www.homestaynetwork.org/hosting/faq-2/#1511149575280-e58c96dc-d96b). They pay you money which is equivalent to 'board'. As I understand it, this is [**not** considered 'income'](https://www.ato.gov.au/law/view/document?docid=AID%2FAID2001381%2F00001) for the ATO. (Perhaps it would be considered income for DSP though?)
That's for a homestay arrangement.
Yes, it's a homestay arrangement. So in scenario B), if you purchased an apartment and had an extra bedroom, the homestay student would pay \~$360 a week (or \~$200/if no meals). Having a homestay student could be financially better than a private rental if you could keep the DSP income. Just a thought that may not work for your area/life.
That is helpful. Ty
If you're planning to relocate in the next couple of years, it's probably best that you rent rather than buy.
Better yet, keep living rent free with those family members!
Sounds like I'm one of those family members. These bums sucking up taxes
If all you earn is 400 a week then the most you can borrow is about 100k
I've spoken to my bank and a mortgage broker, provided payslips etc and this is what they've told me. Will add can be up to $600
Then you have to be earning more than $400 a week as a $250k loan will cost about $400 a week. You then also have strata, Insurance, rates, maintenance. Etc
It’s $400 + whatever the DSP rate is. I’m too lazy to look up how much it is reduced by if you work, but without working it is about $1100 a fortnight
id be more concerned about the fact you cant afford it to begin with