Xr6t And A Mortgage?

[zx6rblue]

Mortgage and car loan combined and own the little ladys WRX. Living a comfy lifestyle at the moment(no kids) but that will changes soon I bet.

[qik1]

Bought my house when I was 21, bought my T when I was 23, got married when I was 24 & 25 in abit over a week. Both the house & car are on the mortgage. Nothin too serious as I bought at the right time & I live in a small town. To do all the mad mods I have I had to give up abit. Buggar all drinking & no partying. I have a normal job just do a fair bit of overtime. My family is loaded but I havent ever asked or taken a cent off them since I left home.

Edited 28/10/08 10:07 AM by qik1

[tig]

Only started buying myself decent cars in my late 30s (now 47) started buying property when I was 20 Own my house, have a few rentals + developement site for units in queensland which will be started mid 09. Gotta get the important stuff done first so you can enjoy yourself a bit later on I reckon. Lease my T ute plus my other vehicles for business so at least its tax deductible.

[dezzaxr6t]

Paying mortgage and separte car loan for T but playing on getting refinance on the home to put the car in it so we can start a Family soon.

[jetute]

be interesting to see how honest people are..... many here are in their early twenties and post that they have a 300+K mortgage and own at least a car or two outright..... how many of these own it outright because they put into their mortgage??????

I cant see too many people in their early twenties saving more then $50K to buy a couple of cars outright and then saving at least a 10- 20% ($30-60K) deposit for a home.... seems very excessive (not to say it cant be done) for someone in their early twenties... especially if they went through uni and got out when they were in their early twenties.

to those that have..... well done

Edited 28/10/08 10:14 AM by jetute

[Buf-Phoon]

to pocket $50k you will need to earn over $70k PA. Good money IMO.Crime must pay for the under 21s

[tig]

Jet, if you've got the drive or ambition it can be done. I was working 4pm - 6.00 am shifts six days a week as a boilermaker/pressurewelder and worked 9 hrs on sundays. + after my 14 hr shift I worked as a casual cleaner in a factory over the road for 3 hrs and did that for a few years. Found when you have a goal and you start getting money in the bank you get on a roll which makes it seem worthwhile although a bit tired. that's how I saved the money for my first block of land in Kellyville in n/west sydney. Paid 42,000 in cash for the land (1982) and borrowed for the house only.

Cheers

[wados]

have a loan for the house but own both mine and the wifes car, this is my second XR6 had to sell the first one to buy the house as the first car was on a 3 year lease and was costing to much in repayments a month. Took 2 years after building the house to get my car that I have now.

Was well worth it. although I drove a ford courier for 2 years

[jetute]

Tig.......oh I totally understand that it can be done but it sure would not be easy while doing uni as I found out..... I worked three jobs to go through uni... I worked at a paint store saturday, sunday and monday from 8am till 5pm.... then each day (7 days a week with the exception of a few friday nights that I partied) at 7pm I worked at a bottle shop till 11pm..... during the week I painted in the family business when ever I could..... and did uni full time.

Now, after all my expenses, uni fees, text books, fuel, car payments for my rust bucket, parking etc etc... there was not much to save from, maybe a couple of hundred here and there..... I worked hard and no way in the world could I of saved $50k to buy a car.

Like I said, well done to those that could... I know that I couldnt.

Edited 28/10/08 10:38 AM by jetute

[Buf-Phoon]

Buying in NW Sydney ie Kellyville , given the NSW govt has canned the rail link is a good call ? My GF owns a home there, and the prices have gone south to say the least. Beaumont Hills is the premier area in the Kellyville area agreed.

There is a house around the corner that has 5 beds , 3 bathtrooms and has been just sold after being on the market for 4 months, for less than $500k, views of the Blue Mountains as well.

I see your equity in flames, sorry to say. The Kellyville area has the highest levels of foreclosures in the country. No suprise there.

I am waiting with the cheque book in hand for another bargain. Good for some it would seem

Do not sell ATM, or you will be rogered large. Personally you should be sweet given your low cost of entry