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  1. #31
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    We are currently saving for a house but honestly it feels like a loooong way off

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    babyno1onboard  (10-05-2016)

  3. #32
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    Saved! Took us about a year. We had about $60k saved and purchased our first home for $405,000. Currently renovating and it will end up as an investment property and we will build our own home

  4. #33
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    I was lucky to get in with what was essentially a no deposit package and was able to build our house on my own. I was in the situation where I was basically living expense free with dh in his own unit (prior to us being engaged/married) so I could show a huge income with no expenses to qualify. 7yrs later, it's worked to our favour

  5. #34
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    Default How did you get the money to buy your first house?

    After we got all our study over with and were settled in our jobs we saved
    $62,000 plus 7k from first home owners grant- over around 5 years.
    So had a 69k deposit.
    In that time we rented a 2 bed unit (no kids yet)

  6. #35
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    Saved, I bought my first unit for $55,000 when I was 21 ( in 1992!) it took me 3 years to save and I lived with my parents until then, sold it for double and used that to buy a house , I worked all through my 20,s and started my business in my 30,s , it's easier to save without kids!( didn't have DS until 39)

  7. #36
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    I saved the deposit, built and held the property for 5 years, paid $70,000 off the property and made around $150,000 on it, while there used the equity to build another investment and made another $100,000 on that one, since then have bought with my partner and have paid equity off this property and kept the other as an investment with $200,000 equity and will sell that when the market improves. Real estate has made me $260,000 and saved about $70,000 over the years by paying down loans and savings

  8. #37
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    Saved. We had the most minimal deposit. Our ability to service our loan is greater than the amount we had as a deposit.

    We were able to defer our stamp duty otherwise we would have had to save for another 3-4 years beforr having enough to buy

  9. #38
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    We saved for a year and were able to have $50k deposit (I had 46 hubby had 4K haha) plus $17k for first home owners. Bought our first home for $360k and had made some renovations since then.

    We bought back in 2009 when house prices in Melbourne were actually not too bad, very lucky that we bought back then.

  10. #39
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    First home buyers grant + mortgage. No savings needed. But that was 11 years ago and things have obviously changed since then.

    We sold the first house and used the profit for a deposit on the second house.

    Then to buy the third house we used the equity in the second house.

  11. #40
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    I got married to someone with a house.... 😂

    DH got first home owners grant, saved a heap of money and got his parents to go guarantor. Sold that house a few years later - making enough money to serve as a decent deposit for our current home.

    Having parents go guarantor (where possible) can save huge $ over the life of the home loan.

  12. The Following 2 Users Say Thank You to sunnygirl79 For This Useful Post:

    turquoisecoast  (10-05-2016),WinterJade  (10-05-2016)


 
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