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  1. #31
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    Default Anyone else a pauper?

    DP and I are late 20's and don't own a house. We are saving for one (we have $17 000) but will need to buy a car first as ours keeps having issues. We made the decision that I would return to work after #1 and after this baby too so we could continue saving for a house.

    I am still paying off HECS and DP paid off business loans in 2014.

    We will probably pay for a wedding before a house too.
    Last edited by Mamasupial; 15-05-2016 at 14:34.

  2. #32
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    I agree 30 is young . I think in Sydney the average first home owner is 32

  3. #33
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    Quote Originally Posted by HillDweller View Post
    Combined $160k is "lower wages"??? We earn combined $150k (with me working 4 days a week and DH 5), have a $475k mortgage and save thousands of dollars a month while not watching what we spend at all. We're in Perth and live almost an hour from the city.
    Compared to what we could earn if we did what we do in Sydney and Melbourne. Generally SA pays lower that Eastern states not that we are low income earners! Sorry if that came across wrong. I meant we could get more money but would have a higher mortgage. So it kinda evens out. That said we definitely do not save thousands a month. With childcare, insurances, utilities - we're going really well if we save $1500. Apologies again!

  4. #34
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    Living like a pauper to pay off the house. I save 75% of my income.

    For what it's worth I only moved to Australia in 2011, the dollar was sky high and everything so expensive! I started renting in Sydney. I remember leafing through a property investor magazine one day and saw that houses in Medina, Western Australia, we're going for 250k, 30 mins from the cbd. I was like that's my chance I applied for a job in Perth, got it, bought a 3/1 in Kwinana on one income with a 50k deposit and fhb grant and just like everyone else said lived like in exile for two years. Then I finally had equity under my belt.

    When I met DH he had nothing to his name but at least no debt. I have since upgraded houses and save like mad but it's all good really. I'm on the "mister money moustache" blog almost daily.

    The way I see it is: every dollar I put into my mortgage principal is a dollar I will never ever have to spend again. That keeps me going, living like a pauper by choice.
    Last edited by NORgirl; 15-05-2016 at 16:46.

  5. #35
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    Yes definitely.
    We are in a rent to buy situation as we had no backing to get a mortgage or deposit so couldn't afford that so when my Nan passed away she gave me some money and then my parents helped to buy a house which in is in their name and we pay them rent each week we have about 8 more yrs then it will be ours.
    But ours is only a unit the cheapest in our area and we live paycheck to a week before paycheck it's hard but have food on the table a roof over our heads and my son has all his needs.


 

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