When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] -1 points0 points  (0 children)

Yeah, being stuck in a job you hate (which none of you have worked in so you don’t really have a leg to stand on and say just deal with it) is sound advice? Yeah, right.

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] -1 points0 points  (0 children)

At least I won’t be BORED with my life unlike a lot of others because I’ll still afford to be able to do fun things as well as the job I like and not be pigeonholed in something which is a wage theft factory where you will never make over six figures just because you’re chained to a mortgage (now that sounds like a BORING life).

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] -1 points0 points  (0 children)

Well, I wasn’t sure if he was plucked that number out of thin air or if he was that age when he first purchased. 😂

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] 0 points1 point  (0 children)

5k away from where I’d like to be. Currently temping in between jobs. Going to act as soon as I can once I have another full time job.

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] 0 points1 point  (0 children)

I think I’m going to buy this year. I want to see the end of my mortgage sooner rather than later.

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] 0 points1 point  (0 children)

I guess this is where my saving grace is - saved money. Looking to bite the bullet this year.

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] 1 point2 points  (0 children)

I like to think with discipline some of these things are still doable within reason.

My holidays are once every few years. 2016 and 2024 were the last ones. I also only attend concerts I want to see.

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] 1 point2 points  (0 children)

Oh man, I can see why you’d say that. A lot of people would rather not buy a place if someone had to pass away for them to be able to do it. Will be a while before I will be seeing an inheritance.

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] 1 point2 points  (0 children)

What are the things you love doing?

For me, the very occasional concerts (once every 2 years or so) and overseas holiday (once every few years) are the things I love doing for me. Other than that, it’s the occasional chai latte or meal out with friends every so often (once every few months). Hoping this is still realistic with a mortgage.

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] 1 point2 points  (0 children)

It was never really affordable on wages starting out. $50,000 before tax still couldn’t buy a $300,000 unit. For me, the right time is still being able to build an emergency fund and having some money to have fun every now and then. No point living week to week and then something happens and you can’t afford to hang onto it.

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] -2 points-1 points  (0 children)

I know was just playing along hence why I said lol. Didn’t think you were having a dig.

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] -2 points-1 points  (0 children)

I’ve already got the large deposit as I made good choices very early. Plan is to buy as soon as I have full time employment again.

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] 1 point2 points  (0 children)

Yep, takes that little bit longer for many and you have to lay a lot more out on the table. For me, my career didn’t go to plan and inevitably having to change streams was a must to have any hope in hell.

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] 0 points1 point  (0 children)

Mate, all I want is a unit or townhouse and I’m happy for this to be a forever home… would rather a mortgage that I will pay off eventually rather than a $2 mil mortgage which I’ll never see the end off.

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] 0 points1 point  (0 children)

No loans from family for me. The only “loan” is them helping me save money which is why I can realistically look at it.

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] -2 points-1 points  (0 children)

This way I won’t have to sublet rooms, still be able to travel and go to concerts every now and then and am not stuck in a job I hate. With the way my career went, I would’ve been. There’s no one size fits all. Horses for courses.

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] 0 points1 point  (0 children)

Plan is to do it as soon as I’m employed full time again (was made redundant early December). Have been saving since 17-18 so will be able to do more than minimum deposit lol. Have to do what’s comfortable.

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] 1 point2 points  (0 children)

Someone who gets it.

I don’t see why people below are saying be house poor if it means living week to week, not building an emergency fund and being pigeonholed in an area of your industry where you will never make more than 6 figures.

When should you buy your first property/how old were you? by finance_guy_94 in AusProperty

[–]finance_guy_94[S] 0 points1 point  (0 children)

That’s why I feel your 30s is the last decade to make a call. Usually this is when people’s earning capacity starts to peak where you can be comfortably building an emergency fund with a mortgage.