We are currently saving for a house but honestly it feels like a loooong way off
+ Reply to Thread
Results 31 to 40 of 79
10-05-2016 16:44 #31
The Following User Says Thank You to SummerFun For This Useful Post:
10-05-2016 16:49 #32
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
10-05-2016 16:58 #33
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
10-05-2016 17:02 #34
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)
10-05-2016 17:04 #35
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)
10-05-2016 17:13 #36Senior Member
- Join Date
- Jul 2015
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
10-05-2016 17:20 #37
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
10-05-2016 17:27 #38Senior Member
- Join Date
- Sep 2014
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.
10-05-2016 18:07 #39
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.
10-05-2016 18:32 #40
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.
By ClaireAbs in forum Family FinancesReplies: 4Last Post: 18-02-2016, 14:55
By Blossom74 in forum General ChatReplies: 55Last Post: 12-02-2016, 11:35
By maternidade in forum House & GardensReplies: 21Last Post: 22-05-2015, 14:20
TPS Health Physiotherapy and PilatesTPS Health Physiotherapy and Pilates has three clinics located at Morningside, Redlands and Lutwyche. We offer pre and ...
LATESTWhat is a blessing way? How is it different to a baby shower?7 ways to break the ‘mumnotony’ at homeGuide to government family benefit payments
POPULARWhen can I start giving chores to my children?New baby nursery checklist – a guide to newborn essentialsWhat to pack for labour and hospital – a checklist
FORUMS - chatting now ...
Help with baby names please!Choosing Baby Names
Did you drink any alcohol during pregnancy?Pregnancy Health Issues
3 year old with mouth ulcersGeneral Child Health Issues
Financial advisor or accountant?Family Finances
IVF babies due June/July/August 2017pregnancy and babies through IVF
Has anybody's family member or friend set up as a registered carer?Childcare Options
How long would you leave your 8 (almost 9) year old at home alone?General Parenting Tips, Advice & Chat