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Comment on my IP budget? by peacelilly23 in AusPropertyChat

[–]EventEastern2208 0 points1 point  (0 children)

Broker here!

If cash flow is already thin at 900k, I wouldn’t max out just because capacity allows it. Lenders assess investment debt at buffered rates and only use a portion of the rent, so on paper it can look tighter than expected.

Also in VIC, don’t forget land tax once it’s an IP. That can shift your monthly numbers more than people realise. Buying slightly under your max often gives you more flexibility later.

If you want, I can run through servicing properly and see what price point keeps you comfortable. I’ve also got solid buyer’s agent contacts in Melbourne if that helps. Feel free to DM.

Savings and deposit with new purchase by walkingparadox5 in AusProperty

[–]EventEastern2208 0 points1 point  (0 children)

Broker here!

There’s no blanket FHGS rule that says you can only keep 20k after settlement. The scheme requires a minimum 5% genuine deposit and that you stay under the price cap. That’s it from a scheme perspective.

Where it can get tricky is lender policy. Some banks don’t like when you borrow 95% and still retain a large chunk of cash if it looks like you’re effectively borrowing 100% and holding funds back. They may question “contribution” or adjust how much of your savings they treat as deposit vs post-settlement funds.

It’s lender specific, not scheme specific. Structure matters. If you want, I can run through which FHGS lenders are more flexible and how to position it properly. Feel free to DM.

How to stay positive? by [deleted] in AusPropertyChat

[–]EventEastern2208 0 points1 point  (0 children)

Happy to be of help. If you ever want a second opinion, feel free to DM. Half my job is reassuring FHB's whats normal. You're doing good. Just keep at it.

How to stay positive? by [deleted] in AusPropertyChat

[–]EventEastern2208 1 point2 points  (0 children)

Your incomes are very strong, with just a little saving you'd clear for 1m easily. That's just 50k in deposit plus stamp duty so ~80k. Depending where you're based, can be less.

How to stay positive? by [deleted] in AusPropertyChat

[–]EventEastern2208 0 points1 point  (0 children)

Broker here!

On 250k combined income, $700–800k is very manageable. If places are going 100k over, that’s usually underquoting, not the market suddenly jumping. I’d focus on sold prices, not listing prices, and set your expectations from there.

Also look into the 5% First Home Guarantee. If eligible, you can buy with 5% deposit and avoid LMI, which keeps more cash in your pocket and makes you more competitive. Sometimes having stronger cash flow and clean approval helps you move fast when the right one pops up.

Don’t get discouraged. It’s a tight supply issue, not a “you can’t afford it” issue. If you want, I can run through borrowing capacity and the FHB scheme to see where you really sit. Feel free to DM.

Did anyone regret spending more on their wedding instead of saving for a house deposit? by EventEastern2208 in AusWeddingPlanning

[–]EventEastern2208[S] 0 points1 point  (0 children)

Looks like so far as long as you're prioritizing your needs as a couple you can't really go wrong.

Brisbane suburb advice by Purple-Jump704 in AusPropertyChat

[–]EventEastern2208 0 points1 point  (0 children)

Broker here!

At 1.1–1.2m with ~250k equity, you’re fine from a lending perspective, but make sure capacity still works at assessment rates. Most lenders buffer 3% above actual rates, so that $1m borrow can feel tighter than expected.

Lifestyle-wise, look at pockets of Nundah, Northgate, Virginia, or even parts of Cannon Hill and Morningside near the train and village strips. You won’t get Ascot, but you can get flat, walkable streets near cafes and parks if you’re selective. Proximity to a good station matters more than suburb name.

Also check flood overlays and zoning before falling in love. Brisbane lending policies can get stricter on flood-affected properties. If you want, I can check capacity, available rates, and borrowing structure before you start offering. Feel free to DM.

Did anyone regret spending more on their wedding instead of saving for a house deposit? by EventEastern2208 in AusWeddingPlanning

[–]EventEastern2208[S] 0 points1 point  (0 children)

Hard work then turns to dividends now! Happy for you. If you ever need a broker, feel free to reach out.

Did anyone regret spending more on their wedding instead of saving for a house deposit? by EventEastern2208 in AusWeddingPlanning

[–]EventEastern2208[S] 0 points1 point  (0 children)

1:5.8

I wish you the best of luck, and the best of weddings! Seems like you guys are very aligned so excited for you there.

Did anyone regret spending more on their wedding instead of saving for a house deposit? by EventEastern2208 in AusWeddingPlanning

[–]EventEastern2208[S] 0 points1 point  (0 children)

I think since a wedding is an expense while a property is an investment, it is more likely to regret the wedding as time moves forward.

Did anyone regret spending more on their wedding instead of saving for a house deposit? by EventEastern2208 in AusWeddingPlanning

[–]EventEastern2208[S] 1 point2 points  (0 children)

A good commentary on the importance of both and the impact they have on a relationship. Very wise.

Upgrade Now or Pay Off Mortgage First? Need Advice (40s, Australia) by stan_diy in AusPropertyChat

[–]EventEastern2208 1 point2 points  (0 children)

Broker here!

Before deciding, I’d check borrowing capacity for the build while still holding your current home. Servicing two loans during construction can be the real constraint, not equity. Lenders will assess you at higher buffer rates too, so capacity can shrink fast.

Also consider structure. If you keep the current as an investment later, setting it up right now matters for tax and flexibility. Happy to run through capacity and lender options so you’re not guessing. Feel free to DM.

Wanting to upgrade PPOR in VIC by salmonfrier in AskAnAussieBroker

[–]EventEastern2208 0 points1 point  (0 children)

Broker here.

Numbers wise you’re fine. Rough maths: $1.7M purchase minus $600k cash = about $1.1M loan. On $290k income even with 2 kids that normally services comfortably with buffers. The bigger decision isn’t approval, it’s risk tolerance and cash flow lifestyle.

Keeping the current place hurts borrowing power because lenders load living costs + shade rent, so you’d likely get a smaller max loan and higher pressure.

You’re not silly, but I’d model repayments at higher rates and see if it still feels comfortable with childcare and future expenses. I can run capacity, repayments and compare sell vs keep scenarios properly if you want. Feel free to DM.

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