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  1. #1
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    Default For those of you who bought houses for 450k up?

    How did you do it? Had an interesting conversation witha friend who basically said she will never afford a house in syd. Ever no matter what she does she just won't. She said her choice was to either have children or work for the rest of her life and pay off a house.
    So I'm wondering how did you guys do it?
    Med price for a house is over half a million and we aren't talking anything more then a 3 bedda. So I'm not referring to large homes here.
    Rent for a house is at least $450 a week if you don't want it to have holes in the roof.
    So enlighten me?

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    DH and I were both working full time (both professionals), had no kids and still couldn't afford it really. We bought our house for $465K about 4 years ago and the only way we did it was by borrowing $340K from my extremely generous parents, and are paying them back interest free. We are even struggling a bit with that now that I'm not working for a while.

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    Janesmum123  (10-12-2011)

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    We saved every cent we could and worked really hard - long hours, stressful jobs, in professional expat jobs for over 10 years to buy our house outright. ... Now we are sitting pretty.

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    DH bought a house with a reasonably small mortgage when he was around 20 and we have worked our way up from that with profits from buying and selling.

    ETA: There is more to it than that, so if you want to know more I'm happy to discuss via pm as DH has asked that I dont discuss our financial details on a public forum
    Last edited by Guest1234; 10-12-2011 at 15:09.

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    The only way we could afford it is was because we had been on the property ladder for a few years before the prices started going crazy. We bought our first house (6kms from central Brisbane for $89000 and sold it for $400000 ten years later. If we were just starting now there is NO WAY we could afford our house( 1/2 million +) and we are on very good professional wages.

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    That's what I mean it's a bit crazy that 2 people working can't afford a house.

    Bell bug- that's fine I don't expect people to share all their financials on the net. Was just asking in a round about way.

    I mean I know I will never afford a house but hearing that from her was a bit strange because she has a good job and so does her husband.

    It's all a bit sad really.

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    DH is on a nice coushy 6 figure salary, we have no other debts.

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    We are on 6 figure combined salary and I work very part time, there is no way we can afford 450-500k+ until I work full time and can contribute 50k more a year than I currently do!

    I was having this discussion with my DH the other day, we have modest mortgage and earn good $$ yet some weeks still struggle, how the frick is Joe Blow meant to get ahead these days without sacraficing significantly in some area!

    I think on the other hand our generation want the 'final' type house first up where as in our parents days they bought small and sold up to bigger as the market improved - we lived in numerous homes as kids, each getting nice and bigger.

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    Nope most people just want an old 3 bedda they can do up. Nothing fancy. The most basic house you can get really. Well people I know anyway.
    And not even in a "good area".

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    I think also the bills this generation has are much bigger. Health insurance, well every insurance there is. Phone/mobile/Internet etc.


 

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