How Do You Want To Live In The Future? To Be Fully Human

alternative future living

If you’re thinking about buying renting or moving house over the next 10 years, wait – let me run you through a few different options because you are in a unique time of your life right now to think.

How do I really really want to spend my time and money on putting the roof over my head here? Boy, you’re a man-child. Here in Australia we’ve fallen into a trap thinking that there’s only really two options that we have in terms of housing.

We can either buy a house or rent the house or apartment, and we really need to think outside of the box, because right now here in Sydney the price of housing is about eight hundred and fifty thousand dollars on average.

Which means that people are engaging in 30-year mortgages that cost them about fifty percent of their income or more. They’re working 20 to 30 hours of their week just to service their loans. This leaves very little.

Less for their relationship, for travel, for adventures, for doing the things that they’re really passionate about, so I want to run you through ten different options to find housing in Sydney or to travel around the world.

It’s really up to you. 10 years of your life. So here’s ten different options starting with the most affordable. Considering things like cost per week, the percentage of your waking hours that you’ll need to service the cost of that.

Assuming that you’re getting paid around $25 an hour, considering that this is over the next 10 years, so it’s not forever and finally considering the pros and cons of each different way of living.

How to live in a motorhome – Van Life!

rv living for an alternative habitat

All right so this is totally crazy. Not that many people do it but some people do and they live fantastic lives. They travel around the world in their own mobile home and what becomes their home is really their village, or the countryside, or the beach, or the city, that they visit.

The home becomes the entire world pretty much. Now what does this cost? Well most people start off in a budget of $20,000. That means that they can buy a van for about 10,000 and after that they only really have to pay for parking, which usually people pay in a combination of free or paid parking.

So let’s factor on paying parking for three days a week. So that costs around $79 per week to service your initial loan and also for parking. That’s created four hours per week only or four percent of your waking hours assuming that you would actually sleep eight hours a day.

That’s really affordable and the return on investment is about five thousand dollars at the end of ten years if you choose to sell your vehicle. What are the pros?

Adventure and freedom!

It’s a lovely way to get around the world or around your country and so many people are doing it nowadays it’s unbelievable.

The cons are cold winters, van maintenance, less privacy use, having to use public transport and potentially challenges if you’re looking to raise a family in a stable environment. There are some people who raise their families and travel around for years with kids but it’s not really for the faint-hearted.

What are tiny houses?

Option number two tiny houses. Okay, so this is my choice on how I’d like to go about things, so I’m a little bit biased maybe. But what we’re talking about about with tiny houses is counting houses on wheels, or ones that are not founded on a solid foundation.

The great thing about tiny houses is that are transportable to different places so you can rank our plans or we can own your own. It’s really up to you. This is definitely the cheapest way to own your own home and design the home exactly the way you want it.

tiny houses are an example of alternative living

Tiny house cost of living

All right the cost. I factor on an average of about $60,000 to get to your own professionally built tiny home you can do it for less or you can do for more, it’s up to you.

Let’s say you get that on a combination of loans and savings. That will cost you (assuming that you also pay for a little bit of rents for the land that you pass your time home on) $94 per week to service the rents and the loan.

That’s four to five hours per week or five percent of your waking hours. What are the pros? Firstly, affordable housing – housing affordability is a huge issue as we’ll get into a little bit later on. Tiny homes are really a great solution to not only cutting down your cost of living but cutting down the amount of time that you spend on your living expenses.

The minimilism of tiny house living

So living in a tiny home forces you to live minimally, which could be a good thing or a bad thing, it’s really up to you. Location and flexibility – the ability to move your house according to where you want to live and where you have to live, which might be due to work or a maybe a good choice.

What are the cons? You have less space for stuff, so if you’re a hoarder or collector, the best way to go for you also it’s a relatively new concept so rental availability is rather limited here in Australia at this point in time.Things like getting bank loans might be really difficult to get.

Tiny house laws

So right now a tiny house is defined as on wheels or that’s not cited permanently. If you don’t apply for planning permission you can only really live in it legally for about 90 days every year now.

That’s obviously if someone complains. So you know you can get all over it. Maybe that’s what I’m doing. Personally, don’t tell anyone. There is a risk that you might not be able to live as permanently as most people do in normal sounded permanent homes.

What is life like as a backpacker?

Alright so back to adventuring. Now this isn’t for the faint-hearted or for everyone, but hey if you’re young or maybe even if you’re old, go traveling, it’s a lovely thing to do.

You’ll have experiences that you won’t be able to get in normal century life and hey we’re just talking about ten years, so go for it. One thing to bear in mind when we’re backpacking is that you can choose to backpack literally and go from hostel to hostel, if you want, or you can choose to rent out in the apartments in somewhere inexpensive in the world for less than you would be paying in Sydney for sure.

The global average for accommodation is $25 per night, 175 dollars per week, so that equates to at $25 an hour. 8:00 to 9:00 working hours per week to service or eight percent of your waking hours.

The pros: you get venture and freedom. You get memories and experiences that you will not forget and you have no weight, as in the positions that you honor. Those that you carry in your backpack or suitcase, or whatever, it is the cons.

Well there’s no return on investment really. What you pay an accommodation is a one-way street. Also minimal privacy potentially, especially if it’s staying in places like hostels to stay on the cheap.

Finally you could have pretty limited income on the road unless you’re lucky enough to have set up some kind of massive income or local business from where you’re actually from to service or or pay for the cost of you traveling around.

If you choose to live and work then you could end up earning much, much less than most other people number.

Share housing.

All right so most people think about share housing as something that you do only when you’re young but you can do it when you’re much older, and I know a lot of people who are doing this really, really successfully later on in their life.

The costs of renting an apartment or house in Sidney per room is about two hundred and fifty dollars per week on average and that will equate to about eleven to twelve hours of work per week or eleven percent of your waking hours.

What are the cons? Good housemates. If you have good housemates, you have a good time simple as that. Also, access to affordable housing in desirable places, so sharing house might mean that you’re able to afford to live in a really, really nice part of Sydney in a way that most people who are renting or buying their own house or apartment can’t achieve.

What are the cons? Bad housemates. Also, there’s no return on investment when you’re renting, so unlike buying a tiny house or any other home purchasing options, you really don’t get back your money.

You only pay the money for when you’re renting and it pretty much just disappears at that point.

How to live in a camper year round

So back to travelling. This is one of those out there ideas. Maybe it’s not for everyone but, hey, a lot of people do it and they have a great time doing it.

They have the freedom to be able to travel around the country or around the world in their own RV or Caravan.

What of the cost?

Eighty thousand dollars would buy you a decent caravan or RV nowadays. All right, so it’s quite a lot quite a lot, not a small amount and factoring also that you’re likely to pay something in regards to citing.

So I’m factoring on seventy five dollars per week on citing, assuming that you’re free camping some of that time per week. The cost per week is four hundred and twenty six dollars on average and that’s about 19 to 20 hours of your work per week or 18 percent of your waking hours, so we’re getting up there.

But the great thing about a caravan is that it is an asset. You can resell it after your 10 years or whatever it is you want to use it for and caravans usually attract about a forty thousand dollar return on investment at this point in time.

By the way, that’s the same that goes for tiny houses. Well, you’re looking at getting about fifty percent back of the initial amount that you paid.

Social housing

All right so this definitely isn’t an option for everyone. Social housing is reserved for people who are on low incomes and have some kind of social disadvantage but if you haven’t looked at it then maybe look into it. It might suit your situation.

At this point in time in Sydney the average rental for a one-bedroom apartment or a studio or a bed sit is four hundred ninety five dollars per week and that’s for your own place.

That equates to around twenty two to twenty three of your working hours per week or twenty one percent of your waking hours ,potentially offset by government benefits of course.

All right what are the pros? Well, you pay lower than the average rental in Sydney and you get social support services usually surrounding you. Also, having your own apartment means pretty much the ultimate in privacy.

You get your own space all to yourself. No housemates, no anything like that. What are the cons? Well it’s not for everyone, absolutely not for everyone. Living in social housing means that you’re likely to live in a place very ‘square’ aesthetically speaking.

It’s less nice looking maybe, just my opinion, but I’ve worked in social housing for over 10 years and I personally believe that the quality of social housing in Australia is not really up to standard. It pretty much equates to cheap apartment living in Sydney or around the country which usually means not very high quality, so bear that in mind.

Alright number seven renting an apartment in Sydney. Let’s get straight to the point – we all know what this is all about, let’s be honest. There are huge variances in costs in renting places in Sydney so this is my attempt at going right at the average.

Alright, the average rental costs in Sydney is $700 per week that equates to about 32 work or 29% of your waking hours. Now 32 hours per week of work, assuming that you work a full-time role of 40 hours per week, that’s a huge chunk of your money going towards housing.

So this is where I’d like people to really, really think about what they’re doing here. Renting in Sydney is freaking expensive, all right.

What are the pros?

The desirability – if you can afford to live in a great place, maybe paying more than $700 per week, then you could live in a fantastic part of Sydney and by living in a normal rental property you have the option of earning more than a lot of the other options discussed earlier in this video.

Potentially you can reduce the amount of time that you spend paying for your rent by earning higher income than $25 an hour but that might not be possible for everyone.

What are the cons?

Short term leases. Now I’ve heard about a lot of people getting kicked out of their house because the rent price has gone up and they can’t afford to pay the rent anymore. So at the end of a six months or one year lease they’re out of there.

They have to find some where else so that’s no really stability in my point of view. Also, increasing rent prices. Rent prices are going up all the time and land owners want you to pay, so if you can’t stand it you’re out of luck.

High cost of living. Again, going back to having to work around 32 hours, sometimes more, sometimes less, to just rent your own apartment – to me that is absolutely ridiculous money and it is one that you won’t get any return on investment for.

Moving right along, number 8 is building your own permanent, professionally-built eco house. This idea is a little bit out there. Not too many people think about it but it is an option.

Eco housing is becoming more more popular over time and there is a growing industry here in Australia to build things like treehouses and earth ships and container home prefabricated homes, etc.

Either way this is a more affordable way to build your own house whatever cost. $600,000 would probably be a good starting point to build your own house and sited on your own land that you own, so you’re going to have to get a 30-year mortgage here.

At this point in time, that’s like four point five five percent, so you’ll end up paying about 714 dollars per week to service that. That’s thirty three working hours per week or twenty nine waking hours.

Now the great thing about owning your own home is that you get a huge return on investment potential at the end of ten years or whatever it is you choose to sell it. My calculation is that you’ll get one point three million dollars back after ten years, if you pay six hundred thousand dollars for a house at this point in time.

What are the pros? Eco, luxury – you could be living in a beautiful ,architect-designed home for yourself. Eco housing means lower running costs over the lifetime of that house, meaning lower energy bills, lower gas bills, etcetera.

What are the cons? Well, building and financing eco homes is not as easy as normal homes. At this point in time we’re talking about issues of planning permission and getting home loans. There are also a few eco inconveniences.

For example you might need to reduce the amount of energy that you consume in terms of electrical power, so if you’re a tech geek or somebody who likes their gadgets and big TVs, etc, then you might be out of luck.

This is the first option we’re talking about that gives you a massive mortgage. All right, now let’s not take this lightly. A big thirty-year mortgage that you have to spend 714 dollars on per week to service, that’s a lot of money. Just like apartment rental, you could be spending a huge huge chunk of your waking hours towards servicing the loan.

This really raises the question ‘is buying a home or even renting an option only for the rich’?

Buying an apartment.

We’re back to normal. Now, this and the next option are your usual ways of securing your own home through buying. The cost? Seven hundred thousand dollars would get you an average apartment here in Sydney. Plus strata fees of course.

So at a 30-year mortgage at four point five five percent, that will set you back about eight hundred dollars per week or thirty six work hours or 32 waking hours per week.

Let’s be honest, that’s a shitload of time and money. The great thing is that your ROI will be about 1.4 million dollars at the end of ten years.

Alright, what are the pros? You get your own place.

What are the cons? You lose your life! In all honesty, renting, oh sorry, buying an apartment in Sydney is really, really expensive. You’re getting two long-term debts and you’ll get strata fees.

Finally, building or buying your own house at a cost of eight hundred and fifty thousand dollars on average in Sydney. That will set you back 1019 dollars per week. That’s 46 work hours or 41 waking hours now 46 work hours, so if you work a normal full-time job at 40 hours, that’s more than you would normally earn.

So think about that for a sec. The silver lining on this though is that at the end of ten years your return on investment will potentially be, if housing prices increase at eight point three percent per year, about 1.8 million dollars.

What are the pros? Well, you get to have a home that you can call your own and that’s what we’ve all been brought up to. You potentially also get lots and lots of space and you get that reputation for being a home owner and very importantly you get the stability of owning your own home.

What are the cons? Well plenty of bills and ultimately the bank owns your house, not you, until you pay it all off. It’s expensive. You get into a long-term mortgage and you’ll have no time or very little time. Your four weeks of annual leave for travel, adventure, family, friends and relationships, and all those nice things.

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