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Just Put A Deposit On My First Home!


druxr6t

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  • Member For: 15y 10m 22d
  • Gender: Male
  • Location: NSW, Sydney

Thanks guys. I can't wait. It's going to be unreal to move in and actually have my own place, do what I want!

I'm going to miss my xr6t, it's up for sale. If I can't get what I want for her, I'll keep it but looking at getting a ute for about 10k!

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  • Moar Powar Babeh
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  • Member For: 19y 2m 18d
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  • Location: Perth

Congrats mate! :roflmbo:

excellent time to buy at the moment too.

I just sold my last remaining investment house ( i had three at one stage...... :cuddle: bills bills bills.) But investing when i was younger (23years old) allowed my wife and i to build what is pretty much our dream home and will be our family home and im only 29. I got be honest and say i was very lucky that i bought two place about 6months before the property boom took off here in perth. I'd like to say i was smart and invested wisely, truth is i was lucky..... :spoton: I bought a crappy 30year old brick and till 3x1 in an average suburb for $159g in 03 and sold it x-mas eve last year for double that and some change. I lived in it long enough to dodge the capital gain as i got stung bad on the other place i had...... :roflmbo:

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  • Member For: 15y 10m 22d
  • Gender: Male
  • Location: NSW, Sydney

Thanks for your advice mate.

I believe this property has alot of potential and the chance to make a decent profit down the track. Just so many possibilities with this house when it comes to renovating! I think once we have settled in for a few years, we'll look for another property and hopefully work our way up to our built house with some 'luck' :spoton:

Not looking forward to loosing the xr6t, sorta hoping no one comes up with the cash...!

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  • I love gooold member
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  • Member For: 15y 11m 9d
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  • Location: Melbourne (west)

Congrats (to everyone who has taken the plunge!)

A contrary view FWIW: I know plenty of people (mostly clients) who used to subscribe to the "pay it off ASAP" mentality.

Problem is, they lived like tightarses while they were young and now they're not so young, they're not quite as 'able' to spend the money if you know what I mean.

Say the house is worth $1m in 5 years - it's still worth $1m regardless of what you owe on it. So why not live a little?

Especially with low rates, you'll have more disposable income now while you're earning less. In the future you'll (probably) be earning more and so you'll be able to splurge then anyway.

Definitely a 'not for everyone' approach, but just some food for thought.

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  • Moar Powar Babeh
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  • Member For: 19y 2m 18d
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  • Location: Perth

Good point Ron,

My wife has discussed this at length. We could afford to pay the house off quicker but i had my dose of living on baked beans and two minute noodles when i was earning shiit money and paying off the first two. This was also why we decided to sell off the second place. We could afford it, but i meant that we where less socially active and couldn't afford to enjoy ourselves as much (hense why it took me 2 years to justify a set of injectors, fuel pump and tune....and our next cruise will be the first on one of been on for over a year!!)

We now have our (all be it not totally fitted out) family home and are committed to less than half on my income each month on the mortgage. It would be nice to be able to tell be i have a real estate portfolio but i wanna live as well!!

IMHO as long as young (:w00t2:.....im 29.....) home buyers don't over commit and spend 500 or 600k on there first house buying a house (especially in the current slump and cheap rates) aint a bad thing!....... If we get another rate drop or two i'd be locking her in Eddy!

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