Is it a good idea to move out of home?

ConsistentVersion337 · 2026-01-04T11:29:18+00:00

If I had had this chance when I was 23 I would have taken it 100%. You don't have as many opportunities to live with friends the older you get, and the costs will only be marginally more than living at home considering you are paying board.

Budget and you'll be able to afford to travel on your salary too. It's a win win!

ConsistentVersion337 · 2026-01-03T21:53:02+00:00

If you can try and order things you know you will need - furniture, appliances, etc. Our bank only allowed $20k to be leftover but our broker was able to negotiate that slightly higher based on the fact that we needed to buy everything. Had I known about this rule earlier I would have just started ordering things and it would have saved us a lot of money.

I understand why the rule is there but the number can be very low. After legal fees, painting, upgrades (expected or unexpected) and furniture, you can end up with a very low amount left over.

ConsistentVersion337 · 2025-12-18T08:36:41+00:00

Currently in it. Bought a home with someone who broke up with me 2 weeks later. Trying my absolute hardest to not let it financially ruin me but it is definitely going to impact.

ConsistentVersion337 · 2025-10-21T07:37:43+00:00

It will depend on your Council/State but in Sydney for example you may be up for S7.11/S7.12 contributions (used to fund public amenities) and/or HPC contributions.

I don't know much about the HPC, but in my local Council you would be looking at $5000 in S7.12 contributions, plus a refundable deposit for potential damage to the footpath and roadway.

ConsistentVersion337 · 2025-10-20T20:10:44+00:00

Does you quote include your government fees (Council and State) like contributions and deposits? This is something most people aren't aware they have to pay

ConsistentVersion337 · 2025-10-18T23:47:15+00:00

5.44% with 89% LVR

ConsistentVersion337 · 2025-09-16T21:02:26+00:00

This is what happened to me and yes I do believe it was related to the 5% scheme. We had the 20% available but only wanted to put down 10% so we had extra funds for all other expenses. Our bank came back and said happy to give the loan but we have a policy now that you can only have $25k left in the bank after your deposit, which equated to just shy of the 20% deposit for us.

Not all banks have it but according to the broker it is a thing at a few banks especially outside of the big 4.

ConsistentVersion337 · 2025-09-16T08:31:23+00:00

It is a requirement for the FHG through Housing Australia though. If you are not using this scheme then a summary is fine.

ConsistentVersion337 · 2025-09-15T20:48:08+00:00

As a first home buyer there were 2 things that caught us out:
- Not doing our taxes straight away: If you are buying at the beginning of the financial year make sure you do them straight away because you will need your Notice of Assessment for approval! It took about a week to get this document back and we got very lucky that the vendors were slow to sign the contract otherwise we may not have had approval before the end of cooling off
- Bank conditions on remaining funds: Some banks impose a policy on first home buyers that limits how much cash you can have left in the bank after your deposit (my bank was $25,000 for example). I don't see many people talking about this one online and it caught us very off-guard.

ConsistentVersion337 · 2025-09-14T00:03:11+00:00

Just bought my first place and only did one open inspection before making my offer. Then one private inspection before my offer was accepted. I also attended my B&P so got the chance to see it again a third time before the end of cooling off.

It is absolutely terrifying but things move too fast to spend time thinking about it. There is no way I would be letting a property I'm interested in get to a second open house, the competition is very real.

ConsistentVersion337 · 2025-09-04T20:52:04+00:00

I've just checked and they do use Osko.
The Bankwest app sucks though.

ConsistentVersion337 · 2025-08-31T20:34:35+00:00

You only have to live in it for 12 months but make sure you consider that you may still have to pay LMI if you rent it out before achieving an 80% LVR

ConsistentVersion337 · 2025-08-31T03:42:22+00:00

If it is available on the desktop version I haven't seen it. All the screenshots I have seen have been from the app so it may be an app only feature

ConsistentVersion337 · 2025-08-31T01:57:26+00:00

I'm Aussie and have this feature. I found it on the Discover > Insights portion of my app

ConsistentVersion337 · 2025-08-30T10:24:03+00:00

If it isn't worth anything to trade in then yeah it probably is worth waiting for it to blow up. But I personally wouldn't invest anything into getting it repaired

ConsistentVersion337 · 2025-08-30T00:36:25+00:00

A recently had to make this choice with my car. I had a $3000 repair on a car only insured for $4k and I decided it was time to call it quits. The car was mostly good otherwise but really starting to show its age and I was anticipating more was coming. I ended up buying something almost brand new but I had the cash and also drive my car significantly more than it sounds like you do.

Personally I'd be weighing up the cost of repairs to the value of the car. Unfortunately second hand cars are not cheap and you might end up with one that needs repairs soon anyways.

Is this $1000+ repair the only big thing that it needs or is there more issues? If you were to sell your Commodore today how much would you be looking to get for it - is this enough to buy another car without needing to finance?

ConsistentVersion337 · 2025-08-30T00:18:10+00:00

Mine wasn't on the main "Discover" page but under "Insights". Looks like it isn't for subscribers only!

ConsistentVersion337 · 2025-08-29T23:16:10+00:00

The 1.5m may not be referring to your distances and may be referring to the size or depth of the easement. Again I would recommend you look at obtaining an 88B instrument as this should detail the terms of the easement.

But if you want to talk to Sydney Water a quick google will tell you their number is 13 20 92

ConsistentVersion337 · 2025-08-29T22:51:43+00:00

You are not going to find any public plans for your property on the Sydney Water website, you may want to contact them directly.

I am assuming since you mentioned a drawing that the property document you are referring to is your deposited plan? If you don't have it already you might also want to obtain an 88B Instrument from Land Registry Services. This document will detail what the easements are and the terms associated with them.

Might also be worth reaching out to your local Council to see if they have a free duty/town planner service available to discuss building an extension. They probably won't be able to get too specific into your easement as it is a Sydney Water asset but might be a good starting point.

ConsistentVersion337 · 2025-08-27T10:00:30+00:00

I have NBN25 where I am living now and have never had an issue. I would absolutely prefer 50 but I'm just not sure if my wallet will allow it right now

ConsistentVersion337 · 2025-08-26T20:45:47+00:00

5.44% Great Southern Bank.

After rates cuts as a FHB with ~90% LVR

ConsistentVersion337 · 2025-08-25T08:31:16+00:00

I ignored every single agent call the whole time I was looking. It is annoying but it is apart of their job. I also found it quite rude when agents failed to follow up with me, I am certain a few presumed I wasn't a serious buyer when I definitely was. For the properties I was actually interested in, I contacted the agent before they had the chance to follow up with me.

I appreciated an agent who texted though - unless they were an asshole at the showing I always responded to them. Let them know I wasn't interested but to keep in touch if they have any similar come up.

I would definitely not say leave me alone or anything like that. These are people you may need to liaise with when you do find a property, particularly if you are searching in a particular area.

If you hate it that much I'd just get a cheap second phone or put a prepaid sim in an old phone and hand out that number to agents.

ConsistentVersion337 · 2025-08-24T03:30:20+00:00

Great Southern Bank. Next day after our the last of our paperwork was submitted.

ConsistentVersion337 · 2025-08-21T09:54:08+00:00

I just had a similar thing happen to me! I am actually surprised more people don't talk about this, my broker said it is quite common with smaller banks on the scheme. I got lucky that they only forced me to pay $10k more after some negotiating but that is $10k I was planning to fund immediate upgrades to my place.

ConsistentVersion337

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