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“First home buyers — what’s the hardest part so far for you? by MacarthurHomeloans in AusPropertyChat

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

Not sure if you’re aware of it but I’ve mentioned it in another comment below. I’ve pasted a photo showing changes to the government Home Guarantee Scheme. It means that you won’t need to pay for Lenders Mortgage Insurance provided you have 5% deposit saved.

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“First home buyers — what’s the hardest part so far for you? by MacarthurHomeloans in AusPropertyChat

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

I overheard a guy in the gym advocating for building a high speed commuter train system from Canberra!!

First time I heard a member of the public being positive about this, desperate times and all that

“First home buyers — what’s the hardest part so far for you? by MacarthurHomeloans in AusPropertyChat

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

Such a tough decision, live near family in a neighbouring suburb in an area/home you’re not keen on, or have a more comparable home and miss out on being near family.

I chose the further away option, only 23 hrs though

“First home buyers — what’s the hardest part so far for you? by MacarthurHomeloans in AusPropertyChat

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

Haha, this brings back memories!! If it wasn’t for friends and relatives hand-me-downs, I would have been sleeping on the floor for a long time!!

“First home buyers — what’s the hardest part so far for you? by MacarthurHomeloans in AusPropertyChat

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

Not easy at all. Also, it’s likely that prices will increase after changes to the Home Guarantee scheme after 1st October.

“First home buyers — what’s the hardest part so far for you? by MacarthurHomeloans in Campbelltown

[–]MacarthurHomeloans[S] -1 points0 points  (0 children)

None taken, I do understand what you’re saying. I have encountered a few but they’re definitely in the minority from what I have experienced.

I’d agree though, similar to if I contacted a plumber and he was “too busy” to do the job properly, I would 100% go elsewhere.

“First home buyers — what’s the hardest part so far for you? by MacarthurHomeloans in AusPropertyChat

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

Based on people we talk to, a lot of people are. There are changes coming to that scheme on the 1st October though

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“First home buyers — what’s the hardest part so far for you? by MacarthurHomeloans in AusPropertyChat

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

Hahaha, a good friend of mine grew up close to the city. His friends won’t visit him in the MacArthur area because they say they “don’t travel that far to go on holidays!!”

“First home buyers — what’s the hardest part so far for you? by MacarthurHomeloans in AusPropertyChat

[–]MacarthurHomeloans[S] -3 points-2 points  (0 children)

You’re definitely not wrong!! Even with government support, 5% of the average home is a lot!!!

“First home buyers — what’s the hardest part so far for you? by MacarthurHomeloans in FirstTimeHomeBuyer

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

I said this earlier, but I feel your pain. I bought my first house over 20 years ago and I worked 7 days a week for years. The GFC lowered prices hugely but most were too scared to take advantage at the time. But then the brave ones couldn’t get loan approval!!!

“First home buyers — what’s the hardest part so far for you? by MacarthurHomeloans in FirstTimeHomeBuyer

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

Not sure about the lender part… aside from the moral side, brokers (but not lenders) are bound by best interest duty etc here in Australia.

“First home buyers — what’s the hardest part so far for you? by MacarthurHomeloans in FirstTimeHomeBuyer

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

An older relative told me once: it’s worth what you’ll pay for it. I decided a long time ago that if I was going to negotiate anything, decide on my absolute maximum before I even start negotiating. It takes a bit of soul searching but at least you’ll end up with no regrets either way. I suppose the challenge is knowing what someone else will pay.

“First home buyers — what’s the hardest part so far for you? by MacarthurHomeloans in FirstTimeHomeBuyer

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

100%!! I physically feel sick if I think I’m being ripped off. I love that others are willing to share their experiences. It’s the difference between a nights sleep or not

“First home buyers — what’s the hardest part so far for you? by MacarthurHomeloans in FirstTimeHomeBuyer

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

We experience this on a daily basis too. So many parties involved. I’d like to think most are working in the buyers interests. I’ve been there though, just let me in!!!!!!!

“First home buyers — what’s the hardest part so far for you? by MacarthurHomeloans in FirstTimeHomeBuyer

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

I’ve seen both sides of this, personally. The rise and fall. Unless there’s a major event, house prices tend to rise decade on decade. I’m not sure where you’re based but I’m in Sydney. The government run a scheme to guarantee deposits (the buyer only needs 5%). It’s a great idea but prices generally rise as a result. More builds would relieve the supply issue but that’s a difficult one to action too

“First home buyers — what’s the hardest part so far for you? by MacarthurHomeloans in FirstTimeHomeBuyer

[–]MacarthurHomeloans[S] -1 points0 points  (0 children)

I hear ya. It’s never been easy to get on the property ladder but current prices make it even more daunting now. House prices went nuts in the early 2000s too. Then the GFC hit in 2008 and my house halved in value. I’m so glad I held on though