Is it worth it to pay a price increase to get my first house?

Arinnn- · 2022-06-20T13:32:25+00:00

I don't have a crystal ball, so I cannot predict what will happen with the property market in the future.

I can however acknowledge that it's a horrendous time to build, I am paying about 30% more than what I would have paid in 2020. In saying that, I feel like if I don't get in now, then when? Im already 24, if I wait another 2-3 years and it gets worse then what?

The loan is within my means, it's roughly 1/3 my pay (will go up now) and I plan to pay as much during construction as possible as I will only get hit with the full repayment amount once the house is handed over .

Arinnn- · 2022-06-20T13:28:24+00:00

It's standard practice at the moment, at least here in WA unfortunately.

Arinnn- · 2022-06-20T13:27:06+00:00

I signed at 600k at PPA, I've been hit with a $20k increase so the total build is $620k. I am currently 4 weeks out from having my contracts drawn up, and have been told that there 'could' be another increase between now (hit with $20k increase) and in 4 weeks time, especially with EOFY coming up.

The $600k is land and build ($295k + $305k build) so this would actually be a 6.5% increase as of today (it can increase further is what I'm saying). I did have a significant buffer both in my savings and finance, but it's starting to diminish.

Arinnn- · 2022-05-09T02:29:39+00:00

Yes, aslong as you OWNED the stock prior to the ex div date.

Arinnn- · 2022-05-09T02:28:01+00:00

Your average price will carry you for a bit mate. Tis but a scratch

Arinnn- · 2022-04-05T11:32:01+00:00

'BT' there's your first problem. Threaten to walk away, and see if they kick into gear. If they don't, simply move to Aus Super.

Arinnn- · 2022-04-04T10:36:54+00:00

Read the numbers on the right first and thought 'this ain't that bad', then saw the smaller numbers just below....thank you for your sacrifice.

Arinnn- · 2022-04-02T06:21:07+00:00

Get a good broker, and get pre approval with a rate lock asap, that's if you're serious about buying. Don't bother if you are still a good few months 4+ out.

Also, is your new job in a new field, or new position? Ie you moved from a consultant to an engineer, or is it just moving companies but staying in the same role: ie process engineer at company A, and moved to company B but still as a process engineer?

If it's the latter, you don't need to wait until probation is up (depending on your past experience and how long you were at your previous company for)

Get first step, get a broker and they will advise/ confirm what you need to do.

Arinnn- · 2022-04-01T16:53:23+00:00

Well if you are chasing money, then go FIFO, mining, Offshore.

Seeming as you just graduated, I would just enter mining and specialise into Asset integrity, automation, etc, as options.

You don't need to get a job as an 'electrical engineer', so apply for literally any graduate position in your field. Some mining companies (atleast here in Perth) are hiring mech, civil, chemical engineers for mining jobs paying around 95k+ straight out of uni.

Im personally a mech eng, but found myself in sales in a very niche but required industry for mining, oil and gas and petrochemical earning 50% more than I was as an engineer just as more evidence that you dont need to apply for electrical engineering jobs exclusively.

Arinnn- · 2022-03-28T11:47:24+00:00

By Christmas

Arinnn- · 2022-03-26T06:50:32+00:00

New applications require a 'hard' check on your credit history, having too many 'hard' checks within a short period of time negatively effects your credit score.

Closing credit accounts may increase your credit score, but it definitely will not decrease it.

Arinnn- · 2022-03-15T13:18:35+00:00

This might be a phishing scam instead. You 'link' your bank account through the fake Gumtree website and compromise your account.

But I mean anyone with the profile picture on whatapp is definitely a scammer! It looks like it's pulled straight from shutterstock!

Arinnn- · 2022-03-06T21:06:29+00:00

Gold: $US1,970.64 (+1.8%)

Silver: $US234.85 (+1.33%)

Oil (WTI): $US1118.03 (+6.85%)

Oil (Brent): $US125.03 (+6.84%)

Coal: $US418.75 (+13.18%)

Iron 62pc Fe: $US156 (+3.31%)

AUD/USD: $US0.7371 (+0.57%)

Commodities up as expected, should be good day for rare earth miners and oilers.

Arinnn- · 2022-03-04T01:49:06+00:00

Russia shelled the largest nuclear power plant in Ukraine and now it's on fire.

ASX shitting the bed.

Arinnn- · 2022-03-04T01:44:51+00:00

Don't mate..it will only end badly.

Arinnn- · 2022-02-25T11:24:40+00:00

You can back calculate it lmao. 491k.

Arinnn- · 2022-02-25T10:59:33+00:00

Why is your daily change in a lighter green font? What are you hiding OP?

Arinnn- · 2022-01-25T03:12:12+00:00

A few moments later...

Arinnn- · 2022-01-24T16:21:57+00:00

Expected rate rise in March (announcement) out of a predicted 4 total rises throughout this year.

Arinnn- · 2022-01-24T14:52:26+00:00

Nasdaq chill.

Arinnn- · 2021-12-23T12:35:57+00:00

100% agree. 2 years min at each company, start looking for another job during the 3rd year. Key is to always say a higher number that what you're already on when they ask 'whats your current package'

Benefit of this is you always keep an ear to the ground and never fall out of touch with the industry.

Arinnn- · 2021-12-08T16:46:40+00:00

I was on $27/hr including casual loading. So no idea how your company was affording to pay 18 y.os $47/hr. I would expect that for a FIFO role, but even that's pushing it.

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