We pay $3100 per month plus an extra $50 per week to make up for the shortage between mortgage and rent for our investment property.
We could do it on one wage but it would be extremely tight so I would be looking to take a year off when we have a baby and then go back to work part time.
It was important to us to stay in the area we were used to as our family and friends are here and I didn't want to be isolated from them. Plus we love living here. It sure is $$ though. We don't even have a proper house. Just a 3bdrm unit. : /
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Results 21 to 30 of 43
12-07-2012 12:21 #21
12-07-2012 12:41 #22
We pay $2800 per month on the mortgage for the house we live in (4bed, 2.5bath, nice area, 35ish kms from the centre of Sydney so in the burbs). We owe about $430k, it's worth about $550k. The payments for our investment are about $2k per month but thats all covered by rent (it's a 2bed house plus granny flat).
We don't pay a cent more than we have to, that money is better off sitting in the offset account - saves on interest just as it would if we paid more on the mortgage but the money is accessible if we need it. We never intend to pay off the investment, we'll leverage it as the value goes up and the extra rent money we'll get as rent prices rise is better in our pocket than the banks!
12-07-2012 12:52 #23
About $1700 a month for a house that cost $290,000.
12-07-2012 12:56 #24
We pay $1700 a month. But we moved into an old house an hour away from work so that I don't have to work when the baby's born. I think it's worth the extra travel time. We do have a full 1/4 acre block though.
12-07-2012 12:58 #25Senior Member
- Join Date
- Jun 2011
$600 a week
12-07-2012 14:16 #26
We just bought another house we are planning to renovate so ATM we pay $600 per week on each loan.... Eeeek!
12-07-2012 14:25 #27
About $2100 a month. We built our house for about $320,000.
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12-07-2012 14:49 #28
We pay just under $2000 four our 4 bedder, but its 45-50 mins out of melb CBD- close to our work and friends but :-)
We also pay $1500 a month for our investment prop- mainly that is covered by rent though. I am taking a year off for #2 soon and we will be able to make it work, but after 12 months I want to try and find a p/t job to bring in $500 a week perhaps for the mortgage.
12-07-2012 14:51 #29
$1140 a month for a 4 bedroom (5 kids) but we live in the sticks.
12-07-2012 15:13 #30
I live in Auckland, Nz at mo. Our mortgage is $700 a week for a three bedroom house on 460sqm site in nice area. It's pricey here!!!! For the same mortgage amount we are building a 4room much bigger nicer house in townsville on a 972sqm section in a new estate! go figure
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