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23-04-2015, 11:58 AM | #1 | ||
FF.Com.Au Hardcore
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Land will always go up, I remember blocks selling for 75K that are now worth half a million, but back then 75K was a lot of money.
My parents bought a house and land package for 65K back in '82, and they only just managed to raise the deposit and were struggling to buy the house, they really wanted the house up the road for 70K but the bank wouldn't give them the money, both parents worked and had a good jobs. Was not easy, was the same when I bought my first small three bedder, was 170K back then and me and missus were struggling, working overtime and and not going on holidays for years on end, it was hard. No different now for new home buyers, it has always been hard, but today people expect too much and want to buy the best in the best location, and if it's not handed over on a silver platter with minimal effort it's all not fair. May be buy a more modest house for your first house in a more modest location, rather than the McMansion near the city, and you will be able to afford it.
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23-04-2015, 11:53 AM | #2 | ||
FF.Com.Au Hardcore
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Same thing happening here in Sydney.
Places that you wouldn't bloody go without a gun are raking in 600, 700K+. Just amazing.
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23-04-2015, 12:00 PM | #3 | ||
Thailand Specials
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A bit of stats (lol) compiled about Melbourne:
http://upload.wikimedia.org/wikipedi...ousing2013.JPG Check out 1995 to 2013, thats a big increase. Is it we want too much or has house prices genuinely increased vs our wages? I'm putting money on the latter, but I'm not interested in buying around Melbourne so it doesn't really effect me so much but its still risen within a 100km circle of Melbourne really. |
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23-04-2015, 12:09 PM | #4 | |||
FF.Com.Au Hardcore
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Quote:
The house was a tiny three bedroom, with bedrooms the size of my current walk in wardrobe and a lounge the size of my current bedroom. There was no garage and no air conditioning. Both parents had to work to meet the repayments. These days people want four bedrooms, walk in robes, theatre rooms, climate control, big screen TV's in every room, surround sound, three computers, I pads, latest mobile phones, three car garage, internet, wifi, pay TV, brand new luxury cars, over seas holidays etc etc when first starting out and then complain about the coast. May be buy a modest 3 bedder and drive a 20 year old car like I did back in the day and they would not have any problems making repayments.
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23-04-2015, 12:51 PM | #5 | ||
Pity the fool
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Staying within your means and starting with a more modest place instead of a McMansion would be a good start. I bought my first house in 2008 and it was a 3brm duplex half with a single carport, no aircon, no ensuites or any of that, made some improvements to the place to add value to it and when we were ready to move onward and upward, the equity that was released when we sold the place we used as a deposit for our new, nicer and larger house.
Be prepared to make some sacrifices to your lifestyle so you can get your foot in the door of the housing market, be reasonable about what you can afford versus what you'd like, and you're half way there.
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23-04-2015, 12:13 PM | #6 | ||
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Man threads like this make me want to get out of the city and have a fresh start in the middle of nowhere.
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23-04-2015, 12:18 PM | #7 | |||
FF.Com.Au Hardcore
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Quote:
So much better for the kids as well, they have the best life out in the bush, and miss out on nothing, unlike city kids who seem to grow up indoors playing video games, instead of being out and about every day.
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The Daily Driver : '98 EL Falcon, 5 Speed , 3.45 lsd The Week End Bruiser : FPV BF GT 40th Anniversary, 6 Speed Manual, 6/4 Brembo and lots of Herrod goodies Project 1 : '75 XB GS 351 Ute, Toploader, 9" with 3.5's Project 2 : '74 XB GS Big Block Coupe, Toploader, 9" with 4.11's In Storage : '74 XB GS 351 Fairmont Sedan XB Falcon Owners Group Mike's Man Cave |
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23-04-2015, 12:50 PM | #8 | |||
FF.Com.Au Hardcore
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Quote:
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23-04-2015, 02:50 PM | #9 | |||
FF.Com.Au Hardcore
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Quote:
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23-04-2015, 03:04 PM | #10 | ||
Thailand Specials
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23-04-2015, 03:32 PM | #11 | ||
Loving my '335' kW!
Join Date: May 2008
Location: Gold Coast, Queensland
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I must be too naive, I honestly thought he was working in an ice works!
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23-04-2015, 07:51 PM | #12 | |||
If it ain't broke........
Join Date: Dec 2007
Location: Sunshine Coast Qld
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Quote:
http://www.fordforums.com.au/showthread.php?t=11433565
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Visitors welcome Relatives by appointment only |
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24-04-2015, 05:56 PM | #13 | ||
Performance moderator
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Where can have a REAL garage !!!
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Real cars are not driven by front wheels,real cars lift them!!... BABYS ARE BOTTLE FED, REAL MEN GET BLOWN. Don't be afraid to try something new. Remember, amateurs built the Ark...Professionals built the Titanic! Dart 330ci block turbo black pearl EBXR8 482 rwkw.. Daily driver GTE FG.. Projects http://www.fordforums.com.au/showthread.php?t=107711 http://www.fordforums.com.au/showthr...8+turbo&page=4 |
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23-04-2015, 12:21 PM | #14 | ||
FG G6ET
Join Date: Dec 2006
Location: Wesside
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I live in Melton (It's nothing like its reputation) and you cannot beat it for affordability, even Bacchus Marsh is similar. I grew up here and built my first house here. Sure there are ********* but you can get them anywhere.
Just under an hour from the city, decent train service, Freeway right into the CBD and $400K will get you something very nice! Hell $300k will get you something nice!
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23-04-2015, 12:23 PM | #15 | ||
FF.Com.Au Hardcore
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Currently I am looking to buy a house. I have no problems in paying back the loan; my income is more than enough. The biggest problem I am having is getting the loan in the first place due to the deposit. I roughly need to save minimum $30000 for the deposit.
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23-04-2015, 01:35 PM | #16 | |||
Banned
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Quote:
They say they can easily afford the payments but dont have the deposit? But the bank manager will say if you dont have the discipline to get together a deposit, how can you maintain the payments thereafter??? |
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23-04-2015, 01:39 PM | #17 | ||
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My advice is buy thinking ahead..
years ago I bought a house that was surplus to my needs, was difficult to buy... it was an investment property, it was rare to have a house of this size available for rent. yes i charged more and it didnt go one week without being rented over many years. I now live in it with a young family. If I bought a showbox to start with we would be looking to upsize now.. Ive saved on the transaction costs and hassle of moving. buy a bit bigger than you think you need. |
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23-04-2015, 02:40 PM | #18 | |||
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Quote:
$1800 a month rent, it gets you a basic house in a basic suburb, around 30 plus mins from the City. I know there is cheaper places available, but looking at moving further out would cost me a whole lot more travel time to and from work, also the cost more to live out further. More living expenses. |
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23-04-2015, 05:15 PM | #19 | |||
Banned
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Quote:
Guess what, the bank also wants you to eventually pay off some principle as well.. that will turn it into $3500+ per month. If interest rates shift upward 0.25% it will increase repayments $150 per month, will tip most people out if the $2500interest hasnt already. |
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23-04-2015, 03:05 PM | #20 | |||
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Quote:
The way the bank see it if you can't save for a deposit then you cant really afford the loan or don't have the discipline to pay off a loan. Pretty much agree with this.
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The Daily Driver : '98 EL Falcon, 5 Speed , 3.45 lsd The Week End Bruiser : FPV BF GT 40th Anniversary, 6 Speed Manual, 6/4 Brembo and lots of Herrod goodies Project 1 : '75 XB GS 351 Ute, Toploader, 9" with 3.5's Project 2 : '74 XB GS Big Block Coupe, Toploader, 9" with 4.11's In Storage : '74 XB GS 351 Fairmont Sedan XB Falcon Owners Group Mike's Man Cave |
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23-04-2015, 03:25 PM | #21 | ||||
FF.Com.Au Hardcore
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Wife got a job working in a Cotton Gin, no experience ever, starting wage for inexperienced worker was over $1500 in the hand per week, for unskilled labour, more experienced staff and supervisors money was well above that and included a house to live in. (seasonal work only) She now works in the local school, earning good money. Quote:
People need to get out of the mind set of waiting for things to happen and need to make them happen. Everyone is different, I would not live in a Capital city if someone offered me double my wage and a free house in the CBD, could not do it, I no longer go to the cities as it depresses me, and I genuinely feel sorry for people and especially kids growing up there, was there too long and wasted too much of my life sitting in bumper to bumper in traffic for hours every day. I wish, but not smart enough for that, I sucked at chemistry
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The Daily Driver : '98 EL Falcon, 5 Speed , 3.45 lsd The Week End Bruiser : FPV BF GT 40th Anniversary, 6 Speed Manual, 6/4 Brembo and lots of Herrod goodies Project 1 : '75 XB GS 351 Ute, Toploader, 9" with 3.5's Project 2 : '74 XB GS Big Block Coupe, Toploader, 9" with 4.11's In Storage : '74 XB GS 351 Fairmont Sedan XB Falcon Owners Group Mike's Man Cave |
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23-04-2015, 04:11 PM | #22 | |||
FF.Com.Au Hardcore
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Quote:
Basically I have been working with a broker to get a home loan, She has been guiding me on what I need to do. She has said you can get around everything apart from the deposit. |
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23-04-2015, 06:26 PM | #23 | |||
FF.Com.Au Hardcore
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Location: Miranda, NSW
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I think if you're main objective in life is to own a property and the cost of one in any of the cities is out of reach then, provided you can get a job, living in the country is probably the only solution. Yes, people say houses are cheaper there and you can live on less income, but the cost of rent and/or servicing a mortgage is not the only expense in life, so you still need income to pay bills, eat, buy petrol etc and to do that you most probably need a job. Once you have your country property you then gotta be happy living there. Some like it some don't. While I find the busyness of Sydney a pain in the butt at times, the country for me is a bit too far the other way. Plus the lack of jobs in certain fields of employment may make living there out of the question. If I couldn't afford to buy in the city I'd probably rent all my life a city dweller and perhaps buy an investment property in the country as an investment. That's exactly what I did in my early 20's not being able to afford a joint in Sydney I bought an investment property in a small coastal town.
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23-04-2015, 07:51 PM | #24 | ||
FF.Com.Au Hardcore
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Yep you gotta live where the work is, regional towns are cheap for a reason, there is no work there (supply and demand, and all that).
I've looked into regional living every now and then, but my line of work it's near impossible. I'm not prepared to have an Engineering degree and go fruit picking. Of course construction work is available in small towns but not for a Project Manager. Totally agree though 1 hour from Sydney CBD and a smaller property it's affordable, you just need to commute. 3rd world problems really, buying iphones, ipads, imac, new car does not leave enough for the mortgage... |
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23-04-2015, 12:41 PM | #25 | ||
Isn't it obvious?
Join Date: Nov 2009
Location: in a world of idiots
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So house prices have gone thru the roof nationally?
Rubbish Only certain. Areas would have. Plenty of good houses on decent land about. If people want to pay 400 grand for a block that's 300to 400sqm well then you've got more money than sense
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23-04-2015, 12:50 PM | #26 | |||
Thailand Specials
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The government should give incentives to business to have their offices based in the regions IMO, everyone wants their office to be based in CBD where parking and driving is a pain in the ***. You've got decent train services out to Geelong, Bendigo, Ballarat for example, maybe Government should start offering incentives for people to base their offices in those regions. Hume City Council is offering deals and discounts to business to open in its region (even though its part of Melbourne but its the right step) and more incentives to hire locals as well. |
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23-04-2015, 01:43 PM | #27 | |||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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Quote:
Think first home buyers grant, roof insulation, government stimulus cheques etc. Great in theory, used and abused in reality. The incentive is that rents and property is cheaper. When I used to do my M5 cashback claim via mail I loved the fact I was sending the paperwork to Dubbo. I have heard of people working in the CBD into the evening and the company pays for their cab home because they don't have parking and feel their staff are not safe on buses / trains at midnight... Tell me that doesn't cost a mint.
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___________________________ I've been around the world a couple of times or maybe more....... |
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23-04-2015, 02:28 PM | #28 | |||
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23-04-2015, 01:59 PM | #29 | |||
FF.Com.Au Hardcore
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Quote:
Or they may want to live in a particular area and that's the going rate. Not everyone wants to move further away from city,jobs etc. Like the old saying goes "you get what you pay for"
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23-04-2015, 01:54 PM | #30 | ||
Regular Member
Join Date: Jun 2013
Location: Mornington peninsula.
Posts: 456
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Selling a house without paying stamp duty fees & other taxes associated with selling can be a god send. after selling the house we had in stonnington we owned for around 40 years we bought our other house.
New house we got, we also didnt pay stamp duty or other associated taxes because i was on disability pension at the time so i was except & mum & dad are pensioners they too were except from paying as was our first time claiming tax free. We bought it together 3 of us & saved mega bucks propably into mid 30 grand with both houses from not paying taxes. This is helpful when wanting upgrade house. But provided the house you sell was first purchased prior to 1983 i believe properties / houses bought before that year are stamp duty tax except. And you maybe eligible for exception from paying stamp duty when buying a house if you're on centerlink payments. Worth asking
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