Try this for raising a deposit. Lower your first home purchase expectations to the equivalent of your parents or grandparents. (They're the ones you're complaining about - are they not?) Save like your parents or grandparents did. (How?) No lattes. No new car. No magazines. No new clothes. No outings. No holidays. No luxuries. No gifts. No alcohol. No restaurants. Nothing that isn't absolutely essential for the most basic living. Buy supermarket specials/generic brands. Find all the free entertainment in your area. Bring your own picnic. Visit all the helpful professionals for advice. (Be wary about taking any of it, though). You'd be surprised how quickly a working couple can raise a deposit on a first home. To find something affordable, well, the online houses websites can usually "sort by price", so finding those at the cheapest end of the market - easy peasy. You can work your way up to the better end of the market, just like your parents and grandparents did. Same deal for singles, and if you start with either a land purchase as an investment, or a tiny unit when you are quite young, then no one's stopping you as you work your way up the equity ladder. Oh yes. And put your mouthful of entitlement in a sealed plastic bag and chuck it in the bin. Interest rates have never been so low. Borrowing has never been so skewed towards the borrower. Competition is high among lenders. Cook Christmas Dinner for your parents and grandparents. Show them how much you are thinking of them this festive season, and not just about yourself.
Try this for raising a deposit. Lower your first home purchase expectations to the equivalent of your parents or grandparents. (They're the ones you're complaining about - are they not?) Save like your parents or grandparents did. (How?) No lattes. No new car. No magazines. No new clothes. No outings. No holidays. No luxuries. No gifts. No alcohol. No restaurants. Nothing that isn't absolutely essential for the most basic living. Buy supermarket specials/generic brands. Find all the free entertainment in your area. Bring your own picnic. Visit all the helpful professionals for advice. (Be wary about taking any of it, though). You'd be surprised how quickly a working couple can raise a deposit on a first home. To find something affordable, well, the online houses websites can usually "sort by price", so finding those at the cheapest end of the market - easy peasy. You can work your way up to the better end of the market, just like your parents and grandparents did. Same deal for singles, and if you start with either a land purchase as an investment, or a tiny unit when you are quite young, then no one's stopping you as you work your way up the equity ladder. Oh yes. And put your mouthful of entitlement in a sealed plastic bag and chuck it in the bin. Interest rates have never been so low. Borrowing has never been so skewed towards the borrower. Competition is high among lenders. Cook Christmas Dinner for your parents and grandparents. Show them how much you are thinking of them this festive season, and not just about yourself.
Remember kids, the more you sacrifice, the better your chances are of buying into this property bubble. You must dedicate yourself to this goal completely or... you'll be judged harshly! (At least by the people on this forum.) Just buy something damnit, and buy it soon... without you, this thing will go pop before any of these 'investors' have a chance to get out.
Buyer beware, do your due diligence and blah blah blah
Try this for raising a deposit. Lower your first home purchase expectations to the equivalent of your parents or grandparents. (They're the ones you're complaining about - are they not?) Save like your parents or grandparents did. (How?) No lattes. No new car. No magazines. No new clothes. No outings. No holidays. No luxuries. No gifts. No alcohol. No restaurants. Nothing that isn't absolutely essential for the most basic living. Buy supermarket specials/generic brands. Find all the free entertainment in your area. Bring your own picnic. Visit all the helpful professionals for advice. (Be wary about taking any of it, though). You'd be surprised how quickly a working couple can raise a deposit on a first home. To find something affordable, well, the online houses websites can usually "sort by price", so finding those at the cheapest end of the market - easy peasy. You can work your way up to the better end of the market, just like your parents and grandparents did. Same deal for singles, and if you start with either a land purchase as an investment, or a tiny unit when you are quite young, then no one's stopping you as you work your way up the equity ladder. Oh yes. And put your mouthful of entitlement in a sealed plastic bag and chuck it in the bin. Interest rates have never been so low. Borrowing has never been so skewed towards the borrower. Competition is high among lenders. Cook Christmas Dinner for your parents and grandparents. Show them how much you are thinking of them this festive season, and not just about yourself.
I'm doing my best, Margaret.
The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt — Bertrand Russell
Media is routinely used (by whoever has got the power) to form a certain opinion in the society. Could articles like in the top mean that the we are being conditioned to welcome the fall in house prices as something positive?
House prices may go up and down and the governments can take credit or blame for either direction, depending on how well they managed to convince the populace that that particular direction is good for the society at the moment.
Media is routinely used (by whoever has got the power) to form a certain opinion in the society. Could articles like in the top mean that the we are being conditioned to welcome the fall in house prices as something positive?
House prices may go up and down and the governments can take credit or blame for either direction, depending on how well they managed to convince the populace that that particular direction is good for the society at the moment.
I don't think a government conspiracy would be required to convince kids that lower prices are better for FHBs. Its a given.
I agree it's much harder these days to buy a property but I'm over young people my age (I am 25 married for 5 years and have 3 kids under 5) complaining its too hard to buy a house. When I was 18 my friends were going on overseas trips, blowing money on phones, computers etc. At 19 I bought my first property (1 bed apartment) for $250k, keeping in mind the rates back then were nearly 8%! I had 3 jobs to meet the repayments and pay off the loan quicker.
My husband and I got married when I was 20 (he was 22) and we started to look for a home. Our budget at the time was around $400k, at the time it didn't buy much but we had to look further out and bought in Riverstone NSW for $425k, at the time people said it was crap and won't make money but the important thing was we could afford it and it suited our needs not our wants - which is the problem with most (not all) young people these days - it's all about everything now and not about working up to what you want. About a year ago we sold our house in Riverstone for just over $500k and moved to our dream home in Castle Hill NSW for $680k.
Yes the prices have gone up since and it's hard but you need to work hard for what you want not rely on others like the government to help. If my husband and I can do it then anyone else can, for young couples you need to work as a team. I work weekends and my husband works Monday-Friday while I look after the kids - it's hard but we make it work.
I agree it's much harder these days to buy a property but I'm over young people my age (I am 25 married for 5 years and have 3 kids under 5) complaining its too hard to buy a house. When I was 18 my friends were going on overseas trips, blowing money on phones, computers etc. At 19 I bought my first property (1 bed apartment) for $250k, keeping in mind the rates back then were nearly 8%! I had 3 jobs to meet the repayments and pay off the loan quicker.
My husband and I got married when I was 20 (he was 22) and we started to look for a home. Our budget at the time was around $400k, at the time it didn't buy much but we had to look further out and bought in Riverstone NSW for $425k, at the time people said it was crap and won't make money but the important thing was we could afford it and it suited our needs not our wants - which is the problem with most (not all) young people these days - it's all about everything now and not about working up to what you want. About a year ago we sold our house in Riverstone for just over $500k and moved to our dream home in Castle Hill NSW for $680k.
Yes the prices have gone up since and it's hard but you need to work hard for what you want not rely on others like the government to help. If my husband and I can do it then anyone else can, for young couples you need to work as a team. I work weekends and my husband works Monday-Friday while I look after the kids - it's hard but we make it work.
Thanks for that margaret.... a very believable character study. Nothing to do with reality, but entertaining nonetheless
Show me some real skills and ad-lib with this voice for afew posts.
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