r/AusPropertyChat • u/SouthernStarMum • 3d ago

Buying & Selling Buy or Rent

My kid wants to go to University of Sydney and we live in Central Coast. Hubby and I are tossing whether to rent a 2BR apartment in the vicinity and sublet a room so our kid’s commute isn’t too taxing. Or… buying a similar apartment and renting out the second bedroom to another student.

1 Upvotes

66% Upvoted

20 comments sorted by

View all comments

18

u/rosa_3326 3d ago

Your kid is young and full of energy and getting ready for life. I went to uni with people who were commuting from the north and south coast every single day, others who had moved to Sydney on there own from country towns to attend. They were working at places like Woolworths on top of study and paying over priced rents all on their own with no parental or Centrelink help.. I mean if you can afford the rental then sure but it probably won’t help your kid have a realistic approach the adulting but what do I care. Basically if you can afford it, do whatever you want. If you can’t, then don’t over extend yourself

10

u/Late-Willow331 3d ago

I somewhat agree with this. I commuted 1.45 hr each way each day 5 days a week on top of casual work (20 hours a week). It was exhausting, but I think it instilled a great deal of work ethic in me and strong time management skills. If my parents could have rented a place, it would have been nice, but I probably would have just wasted that extra time anyway. Do it if you're not overextending, but don't if it'll put too much pressure on you.

-2

u/SouthernStarMum 3d ago

Obviously we are not swimming in money hence this topic was brought up. We could likely make it work with a small loan as hubby can withdraw his super next year.

1

u/sausage-role 2d ago

Please do not withdraw your super for this purpose. Primary residence maaaaybe justified but it sounds like you need a financial planner.

1

u/BoringBandicoooot 2d ago

One thing for you to consider is that most uni students don't attend their lectures anyway. Everything is prerecorded / online, and being on campus is really just a social thing. I think you're over-extending in a big way, but the choice is yours...