Buying a House question

Neka79 · Post by **Neka79** » Thu Jul 06, 2006 10:32 pm

ok..what u do is go see a bank..any bank...a BIG bank..take with u a nice black suit, and a black beanie...and a gun..a nice black gun...
now...roll beanie over head, but make sure uve previously cut 2 holes so u can see where ur going..otherwise your gunna look awfully silly...

now..once the guys with the mobile disco get there, u wont have to pay rent again for say 5-10years..u wont even have to cook for yourself either...problem solved!!

varden · Post by **varden** » Fri Jul 07, 2006 1:29 am

Damn $300k???

Thats huge for a first home, even between two of ya...guess you'll need to be a dual income household for the next 30 years...

Find an entry level house in a suburb you can live with, get that mortgage down, tidy it up a bit add some value, sell and use the equity to get you into a better house WITHOUT getting a $300k loan.

$300k is a massive commitment and small interest rate rises wil hit bigger loans much harder!

$200k is a better borrowing amount for two incomes to knock down fast....

$100k is even better but those days are long gone....

Jonno · Post by **Jonno** » Fri Jul 07, 2006 8:55 am

Neka79 wrote:ok..what u do is go see a bank..any bank...a BIG bank..take with u a nice black suit, and a black beanie...and a gun..a nice black gun...
now...roll beanie over head, but make sure uve previously cut 2 holes so u can see where ur going..otherwise your gunna look awfully silly...

now..once the guys with the mobile disco get there, u wont have to pay rent again for say 5-10years..u wont even have to cook for yourself either...problem solved!!

u idjiot Neka

but I like yer thinking

.... . . . .

Don't forget about the first home owners grant of $7000 and in Qld you also get a reduction in stamp duty's/taxes, dunno about Vic.

I-K · Post by **I-K** » Fri Jul 07, 2006 8:57 am

varden wrote:Damn $300k???

Thats huge for a first home, even between two of ya...guess you'll need to be a dual income household for the next 30 years...

Find an entry level house in a suburb you can live with,

Down south, that's what 300 large gets you... now that the prices have come down a bit.

Going cheaper, your options are apartments or bombed-out former housing commission properties in an area where every house has an XD Falcon without any wheels on it as a lawn ornament.

Colette · Post by **Colette** » Fri Jul 07, 2006 9:00 am

varden wrote:Damn $300k???

Thats huge for a first home

You obviously haven't lived in Sydney...I'd loved to have bought a house for that price!

red_dave · Post by **red_dave** » Fri Jul 07, 2006 9:10 am

To buy my 2br ground floor apartment would be over $550K

varden · Post by **varden** » Fri Jul 07, 2006 9:50 am

Colette wrote: You obviously haven't lived in Sydney...I'd loved to have bought a house for that price!

Yeah sydney housing prices are absurd, you pay a fortune to rent and you have sell your soul to own and you still have to put up with long commutes to the CBD in rush hour traffic OR standing up in the bus if your lucky enuff to find one that isn't full as it sails past your stop, and possiblility of dodgey neighbours unless your loaded. (i have visited and i didn't rate it)

Fortunately I live in Brisbane where you can still buy a house on land within 15km of the CBD for under $250k

If you look hard enuff.....

hidepenny · Post by **hidepenny** » Fri Jul 07, 2006 10:34 am

me thinking a house ya know...........like the ones with garage.............so i can work on some stuff and even my bike, i mean of course we can go with the apartment option but same situation here, i w'd have to store the bike inside the house and just 1 parking port of 2 cars............

may be a unit is a good idea with individual single garage for us at this stage..........but my dad would love some place to grow plants and fruits..............................

headache..............................

Smitty · Post by **Smitty** » Fri Jul 07, 2006 10:40 am

hidepenny wrote:me thinking a house ya know...........like the ones with garage.............so i can work on some stuff and even my bike, i mean of course we can go with the apartment option but same situation here, i w'd have to store the bike inside the house and just 1 parking port of 2 cars............

may be a unit is a good idea with individual single garage for us at this stage..........but my dad would love some place to grow plants and fruits..............................

headache..............................

hp

if you can..... go the house with the tinshed garage
its yours ..no stuffing around with body corporates and the like
and
a house (generally) appreciates faster than units

hth

cheers

javaman · Post by **javaman** » Fri Jul 07, 2006 10:50 am

hidepenny wrote:me thinking a house ya know...........like the ones with garage.............so i can work on some stuff and even my bike, i mean of course we can go with the apartment option but same situation here, i w'd have to store the bike inside the house and just 1 parking port of 2 cars............

may be a unit is a good idea with individual single garage for us at this stage..........but my dad would love some place to grow plants and fruits..............................

headache..............................

I live in a unit, 3br, a garage, HEAPS of land it's punishing to mow and cost 250-ish. So it's still possible in melbourne if looking hard enough

YAPPA · Post by **YAPPA** » Fri Jul 07, 2006 3:37 pm

red_dave wrote:To buy my 2br ground floor apartment would be over $550K

But that comes with a revolving door, reception area & 2 air conditioned hookers though doesn't it

Duane · Post by **Duane** » Fri Jul 07, 2006 3:54 pm

YAPPA wrote:
red_dave wrote:To buy my 2br ground floor apartment would be over $550K
But that comes with a revolving door, reception area & 2 air conditioned hookers though doesn't it

Man, Get rid of the 2br ground floor apartment, revolving door and reception area, and you might just be able to sell it!!!

mohawk miss · Post by **mohawk miss** » Fri Jul 07, 2006 4:17 pm

We just bought our first house, it has already appreciated $15K

We have an offset loan, that counts the savings in your account as being money towards the loan, thus reducing the interest payable on the total. So if you have a good deposit/some savings, that could be an option. The killer will be mortgage insurance.

Our bikes live in our garage, the cars live in the driveway

Kishy · Post by **Kishy** » Sat Jul 08, 2006 9:43 pm

Banks arent interested in what I'm wearing when I hit em up for
another mortgage. Theyre only interested in assessing the risk
by looking at my income, assets & liabilities.

These days theres always someone out there willing to throw
money at cha.. they got nothing to lose. You fall behind in ya payments
they simply sell ya house & put your ass on the streets.

My first house I built in 2002 simply to get $14k off the Government
getting loan thru my own bank for that. Since then bought another 4 of
the fuckers using Mortgage brokers. Tenants kindly pay the mortgage for
me. Good having strangers pay ya debts.

Once ya got some equity bro, use it wisely to increase ya wealth.. if U
wanna invest in the property market.

Neka79 · Post by **Neka79** » Mon Jul 10, 2006 11:53 pm

Kishy wrote:Banks arent interested in what I'm wearing when I hit em up for
another mortgage. Theyre only interested in assessing the risk
by looking at my income, assets & liabilities.

These days theres always someone out there willing to throw
money at cha.. they got nothing to lose. You fall behind in ya payments
they simply sell ya house & put your ass on the streets.

My first house I built in 2002 simply to get $14k off the Government
getting loan thru my own bank for that. Since then bought another 4 of
the fuckers using Mortgage brokers. Tenants kindly pay the mortgage for
me. Good having strangers pay ya debts.

Once ya got some equity bro, use it wisely to increase ya wealth.. if U
wanna invest in the property market.

wow ..a relevant, usefull, decent, non slagging off reply from kishy...well done mate!!....hehe

hidepenny wrote: .......but my dad would love some place to grow plants and fruits..............................

headache..............................

well theres a way to pay off ur mortgage quicker!!..dunno what ur worrying about....

as for homes here in SA..still some decent priced ones..in fact theres sum mansions in sum towns a few hrs from Ade for like $120k (if u could work from home or sumthin)... there was a nice one at Snowtown, but i think u had to take ur own barrels...