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  1. #21
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    Over $500k and I'm in Sydney and would say most people borrow more than they are really comfortable with. I have plenty of friends who had to return full time after kids because of mortgages and they were really unhappy about it. Having children wasn't a consideration when they first borrowed $500k+

  2. #22
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    Anything more than one income needed to pay it off.

    We originally had a $300k mortgage and now down to $230k after 3yrs.

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  4. #23
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    I would consider a mortgage over $600k large.

  5. #24
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    Quote Originally Posted by Rose&Aurelia View Post
    Anything more than one income needed to pay it off.
    .
    This.

  6. #25
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    I built a house when I was 21. I could afford the repayments fine as I bought in a cheap area. I didn't really understand finances then and I remember when I realised that although I was paying $800 each month it was only reducing by a tiny amount. I knew about interest but I honestly had no idea you paid so much in interest.

    I would consider above 500k large. God I can't even imagine the interest each month on anything bigger than that.

  7. #26
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    Wow.
    We consider $330k-$350k to be a large mortgage, but that's on one wage. We don't have one atm but looking at that amount to jump up.

  8. #27
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    Our mortgage when we took it out was 960,000!
    We've taken a bit off but it's still massive

  9. #28
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    Quote Originally Posted by SpecialK View Post
    Our mortgage when we took it out was 960,000!
    We've taken a bit off but it's still massive
    Wow! Do you live in sydney?? I'm assuming you must have pretty good jobs!

    I was thinking more than one wage to pay off would be large too

  10. #29
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    Sydney is a rip off, so basically everything in our area is over $1M at the moment, we are lucky we bought 2 years ago (and owned a unit before that) so we got in before the prices went up, although at the time we thought THAT was a rip off too! 😂

    We just manage ours with 1 wage and 2 kids. It's about $400k-$500k and we have paid off a heap already. Our repayments are set really high, interest and principle to try and get mortgage free asap.

    This is a *big* mortgage for us.

  11. #30
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    Quote Originally Posted by hoping28 View Post
    this is my dream house here, but way out of price range! Will have to try and win lotto....
    I see it everyday when driving DS to daycare and i fall in <3 with it more

    http://www.kalgoorlierealestate.com....wa-11065118486
    Wow! You get SO much more for your money in WA!! That's less than our mortgage and a crap load bigger with a pool!!

    I keep telling DH I want to move out of Sydney


 

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