So after paying off our old house for years after we lost money in it's sale, DF and I are finally in a position to start looking in our new location.
This has been bolstered by the fact we (Well, I) have just found out I am getting an excellent tax return due to working a very small part of last financial year but paying full tax. Also major banks announced yesterday that a 5 year fixed rate at the moment is 4.99%. We want to jump on that as soon as we can.
We worked out if we spend around $280 000 we will be paying slightly less per fortnight than we pay in rent for where we currently are. The house of course will be crappier, but you can't have it all, right?!
Anyway, since it's been 9 years since we bought a house, and in that time the good ole GFC happened... Neither us know exactly how much deposit we would need... I bought our last house with a $4000 deposit! It's crazy, I know! It was a 97% loan but I can tell you it was very, very, cheap compared to prices these days!
If anyone cares to share what percentage deposit they paid or know is the 'going' rate it would be really helpful, or any knowledge on the subject really!