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  1. #21
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    I'm a long term renter, so yeah, pauper town!

    I won't elaborate much, but I feel like we haven't had enough income to sustain our lifestyle/financial obligations since we had DS. We've certainly lost the ability to save money, as paying the bills takes priority.

    I'm hoping to turn things around next year when DS starts school. It'll enable DH to seek full time work (he cares for DS during the day and works casually). I'll also be free of paying preschool fees which are a financial stretch this year ($165 a week), and my car loan will be paid off.

    Realistically we won't be entering the property market any time soon. It's still a goal of ours though, one I hope we achieve in time.

  2. #22
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    Long term renters here too, I wouldn't say we are paupers but as we live in south Sydney, we've been priced out of the market by investors (don't get me started on the subject of NG) it's not like we haven't got a good deposit, we have but the loan repayments would be more than our rent and I'm not prepared to either go back to work full time or move way out west. Unfortunately we didn't sell our house quick enough in the uk to get in here before the prices sky rocketed. It make me sick to be honest.

  3. #23
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    Quote Originally Posted by deku View Post
    Who will probably never own their own home?

    What's your story?

    DH and I will have spent almost our entire 20s being students*, paying central Sydney rent. And throw in an unplanned pregnancy and two interstate moves leaves us with minimal savings at 30 and little hope of ever buying a house.

    Reading the threads about home ownership is somewhat depressing. Well done to all of those who do of course, it just makes me regret my life choices somewhat :-p

    Those of you who haven't or currently can't buy your own home, do you think that'll ever change?

    *Science undergrads, so huge contact hours and workload leaving little time for paid work, I know lots of other people managed to save while at uni. And postgrad studies with now few career prospects, because science has rapidly declined in Australia.
    Sorry to go off topic but it makes me sad / mad to think young science graduates feel like paupers just because they are renting. Home ownership has not made me happy for 1. I miss renting. I certainly don't feel wealthy when mortgage and house maintenance swallows up so much income and time. Gee it's so effing boring thinking about housing and home improvement etc... You are so young. If people need to start planning for home ownership in their early 20's then education and family will have to go out the window. Something will have to change. Maybe more people renting and better protection like in parts of Europe where long term leases mean security for renters. But I reckon it's more likely the bubble will burst. Then you will be glad to be a renter! Some people in Ireland really hit hard times when buying off plan apartments on 100% mortgages only for the value to drop like a stone and them lose their job. I don't think that extreme crash will happen here but something needs to change. Easy for me to say on the other side but try and enjoy the freedom of renting. Hopefully you'll both find good jobs and can save for a deposit eventually or just for the future and keep renting. The world needs scientists!!!

  4. The Following 4 Users Say Thank You to Freyamum For This Useful Post:

    babyno1onboard  (11-05-2016),deku  (15-05-2016),monnie24  (12-05-2016),Stretched  (11-05-2016)

  5. #24
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    Yep long term renter here too. Privately renting for 6 years since finishing uni. Unfortunately in our situation it is just how the cookie has crumbled! Uni, redundancy, wedding, travel, babies and starting a small business has impacted upon our ability to save. I'm sure along with way we could have made a few better decisions, but we prioritised travel and having babies while we were young. Looking to the future we will only be able to save a deposit if I get a full time job (unlikely, limited jobs) or DH's picks up. I have 3 close friends recently who bought houses and while I was a bit envious, I'm actually not envious of their debt position!

  6. #25
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    Problem where we live is that even if you have got a decent income and a deposit, prices are so obscene, the mortgage required is just unaffordable! Its so depressing, we've been waiting for the bubble to burst but it doesn't look like that will ever happen, the gap between those with and those without is just getting bigger thanks to current government 😏

  7. #26
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    The city vs wage conundrum is just that. We live in SA so own a 1000sqm block 20 mins from city and it cost us $440k 5 years ago. It's not new but renoed and very livable. But our wages are lower. We earn combined $160k (me part time). We could both earn heaps more interstate. Our bills and food is the same as the big cities. But our mortgage is lower. I'm not sure we're better off as we earn less. We do save but it's for my next lot of maternity leave. Anyway we are happy. I do wish I had nicer things but I'd rather have little people than nice things. It's a worthwhile trade off.

  8. #27
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    Quote Originally Posted by WinterJade View Post
    The city vs wage conundrum is just that. We live in SA so own a 1000sqm block 20 mins from city and it cost us $440k 5 years ago. It's not new but renoed and very livable. But our wages are lower. We earn combined $160k (me part time). We could both earn heaps more interstate. Our bills and food is the same as the big cities. But our mortgage is lower. I'm not sure we're better off as we earn less. We do save but it's for my next lot of maternity leave. Anyway we are happy. I do wish I had nicer things but I'd rather have little people than nice things. It's a worthwhile trade off.
    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.

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  10. #28
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    rainbow road is offline look at the stars, look how they shine for you
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    Yes, currently. But we are looking at moving out of Sydney to get onto the property ladder and slowly build up some wealth (with my in laws being guarantor on a loan for us) . Having said that, we live comfortably on about $80k gross but would love to have a financial footprint at some stage.

  11. #29
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    Yes we are in this category. We have moved both internationally and interstate in the last five years, had three babies (so three drops in income thanks to maternity leave) and as I am the higher earner that has had a huge impact. We also have had a series of misfortunes, such as cars breaking down with massive repair bills or people crashing into our car and driving off. So whenever we start to build up some savings they are obliterated by bad luck.

    I am 33, DH is 43 this month.
    I so wish we could afford our own lovely home just to make it our own.
    Our combined income this financial year has been $70k due to mat leave for part of the year, and DH is a relatively low earner. I am going back to work part time in July when baby #3 is 7 months. I really do not want to leave her in family day care for three days a week but DH's wage just cannot support us on its own. Plus we need to save money for a house, and my best friends wedding in the UK next year.

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    Me (39 at the time) and hubby (49) discussing marriage:

    DH: So we are in agreeance that we aren't having any children? You know I've had a vasectomy."

    Me: Yep, no worries.

    *Gets married, saves home deposit over the coming year*

    Me: I want a baby....

    DH: OK.

    Say goodbye to home deposit, spend all savings and then some on IVF....

    We won't be owning our own home any time soon, lol. Combined income of around $75K, car loan, IVF, child support...

    Nope. Not gonna happen


 

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