who is buying their 1st home soon (1 Viewer)

[sir-study-alot]

who is keen on buying their 1st home soon . i thought about it today and im going to save for a year and a half then buy a house/unit and rent it out and still live at home .
anyone else got a similar idea ?

 

[Jeee]

how much are you planning on saving?
you're going to have to get a loan

it's good to invest now though, the dollars will come through later on

 

[sir-study-alot]

got like 10g now . but planning to put away 500 a week for two years i hope (gunna be hard at Uni) then hopefully get 1st home buyers grant .
then buy a unit and rent it and pay extra payemtns to pay it off early .
then end

 

[Jeee]

sounds like a plan, gl

 

[emiliieee]

i thought i was the only one who even thought of buying a house/unit.
my friends thought i was weird to even think that

 

[shuttle_bus5]

get 1st home buyers grant .

1st Home buyers grant end's this year im pretty sure? I could be wrong.
And also you had/have to be living in the house/unit to get the grant.

 

[Jeee]

Home owners grant end's this year im pretty sure? I could be wrong.
And also you had/have to be living in the house/unit to get the grant.

For six months at least
so he can be a bit shifty and just direct his mail to the house for six months before leasing it

 

[shuttle_bus5]

For six months at least
so he can be a bit shifty and just direct his mail to the house for six months before leasing it

Have to do more then that bro. They check up on it.

 

[babikakez]

got like 10g now . but planning to put away 500 a week for two years i hope (gunna be hard at Uni) then hopefully get 1st home buyers grant .
then buy a unit and rent it and pay extra payemtns to pay it off early .
then end

how are you going to get 500 a WEEK to put away? thats some nice job you'll have as a uni student.

but good on you for thinking about buying a home.

 

[Jeee]

Have to do more then that bro. They check up on it.

yeah, they check up like once
but even then they tell you beforehand
so you have to have some furniture in there etc

 

[shuttle_bus5]

In my opinion you would be better of buying into shares or managed funds.

 

[-may-cat-]

how are you going to get 500 a WEEK to put away? thats some nice job you'll have as a uni student.

but good on you for thinking about buying a home.

This is what i want to know, where the fuck do i sign up?

 

[untouchablecuz]

i would soon like to (with help from parents) if i get the atar for a certain scholarship

 

[lala2]

I wasn't thinking of doing that for a few years but with the rental prices as they are (both lease and share) it's actually more worth to buy a property. I think it's ridiculous I have to pay $250/week without bills for a room in Dee Why (which is where I'm looking to move for work) when the median unit price is $430k. Assuming I take out a 30 year loan right now (i.e. interest rate 5%p.a.) which covers 80% of the unit's value, I only pay $1,846.67/month or $461.50/week and I get to own the whole unit (eventually). Of course if you're tight for cash definitely rent, but otherwise, I'd go for buying.

 

[shuttle_bus5]

Only problem is with unit's you get very little capital growth

 

[lychnobity]

I'm planning something similar, need to read up on the stock exchange though. Don't even have a decent deposit yet.

 

[ehtefaz.hedayet]

memememe

 

[lala2]

Only problem is with unit's you get very little capital growth

True that. But a house is way out of my league at the moment.

I'm planning something similar, need to read up on the stock exchange though. Don't even have a decent deposit yet.

Me too. $10k, which in any other situation is a nice amount to have saved up, is just not enough for any property in Sydney.

 

[shuttle_bus5]

Stockmarket people!

 

[lala2]

^^I'm an extremely cautious person, not to mention I have no talent in this area. Rather just build it up, slowly and cautiously. Due to sliding interest rates last year, I now have a total of 4 savings accounts.