This video gives me some hope. I'm a nurse/case manager and I make about $100,000 per year. I'm looking to buy just an older brick unit for 300-350 somewhere, just as a starter. Scrounging for 20k-25k deposit to expand my options a little, im about 1/4 way there but saving about 2k a month aside. Wish me luck 🙏
Thank you for sharing your story! It's great to hear that this video has given you some hope. It sounds like you have a solid plan in place to achieve your goal of buying an older brick unit. Saving 2k a month is an impressive feat and it's definitely going to help you reach your target deposit amount. It's inspiring to see how hard you're working towards expanding your options and securing your financial future. Wishing you all the best of luck in your journey! 🙏
Google SA Virtual Health/Hospital.....that's your career future and pretty sure you won't be on $100k. Take a risk and buy a pet, but don't lock yourself into being a Landlord when Blackblob is on its way to buy housing stock. It's done deal so start reading and googling.
$100000 a year? You have zero worries if you can keep that sort of earnings up… just don’t spend money on stupid stuff like travel or new cars etc. You’ll be in a new house in no time.
@@pixiepqueen I agree ! I've well since hit this goal in savings, but I've held off on purchase and decided to aim for a 20% deposit for something in the 400k range rather than chasing govt schemes (this is because my rental situation has drastically changed- I'm only paying $400 a month so I'm able to save much more efficiently so I'm putting off buying until I'm really comfortable with savings 😅)
Thanks for the info. I would like to ask question. We had bought a land and hoping to start the build last Aug but there was an issue with the permit. We have to start all over again with the loan prcess and change the building type. We decided to just sell the land and buy an established house. I'm a little confused. Are we still to be considered for home buyer if we go for that option?TIA
Thanks Grace, that's a great question and might be one that would need to be double checked through the office of state revenue as it's a bit outside to box
Certainly! Both buying a new unit and a secondary (pre-owned) unit come with their own set of advantages and considerations. Here’s a simple breakdown: New Unit: Modern Design and Features: New units often come with the latest design standards, modern features, and up-to-date building codes. They may also have energy-efficient systems which can save on utility bills. Warranty: Many new units come with builder warranties that cover the cost of repairs and maintenance for a certain period. Customization: There's often more scope to customize a new home to your taste before or during construction. Less Maintenance: With everything brand new, there will likely be fewer repairs or maintenance issues initially. Potential for Growth: If the area is up-and-coming, there could be potential for property value appreciation. Community Amenities: New developments often come with community amenities like gyms, pools, and parks. Secondary Unit: Established Neighborhood: Secondary units are typically in established neighborhoods with known amenities, schools, and community vibe. Price Negotiability: There might be more room for price negotiation compared to buying a new unit. Immediate Availability: Pre-owned homes are usually ready to move into sooner than new builds. Historical Charm: Some buyers appreciate the unique charm and character of older homes. Potential for Renovation: There might be opportunities to increase the property value by making updates or renovations. Mature Landscaping: Established gardens and trees can be a desirable feature. In terms of security, both types of units can provide a good level of security, but new units might have more modern security features installed. Making a decision between a new or secondary unit would depend on your personal preferences, financial situation, and long-term goals. It might be beneficial to consider factors such as the location, community, budget, and your readiness to handle any maintenance or renovation tasks. It's also advisable to consult with a real estate professional or a mortgage broker to get a better understanding of what might suit your circumstances best.
No, your superannuation doesn't directly affect your mortgage application in a uniform way across all ages. It's true that younger applicants may have less in their superannuation funds compared to those closer to retirement age, simply due to fewer years of contributions. However, this difference in superannuation balance isn't a primary factor lenders consider when assessing your ability to repay a home loan.
Starting this process, slowly. Maybe I missed it or I just know nothing about the process (yet) but what actually is a solicitor? could that be you or is that a seperate entity? cheers
Great question, a solicitor is a legal professional who is trained and licensed to practice law in a specific jurisdiction. In the context of property transactions, a solicitor typically acts as a conveyancer. This means that they are responsible for handling the legal aspects of transferring ownership of a property from one party to another. This includes drafting and reviewing legal documents, managing the exchange of money and other financial considerations, and ensuring that all legal requirements are met throughout the process. As a property lawyer, a solicitor's role is to advise clients on their legal rights and obligations, and to represent them in legal proceedings if necessary. They are also responsible for ensuring that the conveyancing process is completed in a timely and efficient manner, and that all parties involved in the transaction are protected throughout the process.
We can have a look at your options, it will depend on deposit amount etc - hit us up for a free assessment - www.huntergalloway.com.au/get-free-assessment/
Certainly! The decision between purchasing a larger house or a unit as a first home buyer is a significant one and depends on several factors: Affordability: Your budget is a primary consideration. Houses are generally more expensive than units, so it's important to determine what you can comfortably afford without overextending yourself. Location: Units often are located closer to city centers providing easy access to amenities and work, whereas houses might be situated in suburban or rural areas. Consider the location that suits your lifestyle and work commitments. Maintenance: Houses usually require more maintenance than units, both indoors and outdoors. If you prefer lower maintenance, a unit might be a more appealing choice. Space Requirements: If you need more space or plan to grow your family in the near future, a house may be a better fit. Conversely, a unit might suffice if you have smaller space requirements. Investment Goals: If you're viewing this purchase as an investment, consider the potential resale value and rental income opportunities. Sometimes, units in high-demand urban areas can offer good rental yields and appreciation. Lifestyle Preferences: Your lifestyle preferences will also play a significant role in this decision. For instance, if you value having a garden or a larger outdoor space, a house might be more suitable. On the other hand, a unit may offer more community engagement and possibly better security. Community Facilities: Units in a complex often come with shared facilities like a gym, pool, or communal gardens which can enhance your living experience without the personal maintenance responsibility. Privacy: Houses generally offer more privacy compared to units. If privacy is a priority for you, a house may be a more appealing choice. Future Resale Value: Consider the potential resale value of both options in the future, keeping in mind the growth trends in the area you are looking to buy. Finance Approval: Lastly, it might be easier to secure mortgage approval for a unit due to its lower price point. However, it's advisable to consult with a mortgage broker to understand your financing options better. Each of these factors could impact your decision, and it may be beneficial to weigh them according to your personal circumstances and long-term goals. It might also be helpful to consult with a real estate advisor or a mortgage broker to get a professional perspective tailored to your situation.
We are already in the big crash, Inflation is a catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated. If you want to stay green, you have to rely on a lot of diversification. Currently up 14% and being careful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.
People believe their currency has the worth it does because they have no other option. Even in a hyper-inflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins...........
I understand that the current economic landscape, particularly in relation to inflation and the CPI report, has you concerned. It's a challenging period, and you're right to point out that the FED's potential actions could have a significant impact on various markets, including housing. Diversification can be a good strategy to hedge against market uncertainties, as you've mentioned. A balanced portfolio often helps mitigate risks, especially during times of economic turmoil. It's great to hear that you're currently up 14%; that's a testament to your approach. In terms of housing and mortgages, market conditions like these can present both challenges and opportunities. Interest rates may be affected, which could influence the mortgage landscape, both for new buyers and those looking to refinance. While a savings account might not offer much by way of interest these days, it's often considered a safer, more liquid asset, particularly in uncertain times. If you have any questions or would like to discuss how these economic conditions could affect your mortgage options, we're here to help make the process as stress-free and uncomplicated as possible.
A non capital city house? Why is everyone obsessed with Melb and Syd? The USA would never hence they have cities everywhere, Aussies need to get over it
Sorry about the music, mate! We were aiming for a vibe but might've missed the mark for you. Cheers for the heads up - we'll keep it in mind for next time. Glad to hear you still found the vid useful though! If you've got any more thoughts or need some info, just shout. Appreciate your feedback!
Yes, banks can offer a 30-year loan to someone who is 40 years old. Your age alone doesn't typically prevent you from qualifying for a 30-year mortgage. The banks will also consider other factors like your income, credit history/assets, and employment status to determine your eligibility.
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It’s good to see someone who explains it in simple terms
Cheers
Thanks for the feedback Lee!
This video gives me some hope. I'm a nurse/case manager and I make about $100,000 per year. I'm looking to buy just an older brick unit for 300-350 somewhere, just as a starter. Scrounging for 20k-25k deposit to expand my options a little, im about 1/4 way there but saving about 2k a month aside. Wish me luck 🙏
Thank you for sharing your story! It's great to hear that this video has given you some hope. It sounds like you have a solid plan in place to achieve your goal of buying an older brick unit. Saving 2k a month is an impressive feat and it's definitely going to help you reach your target deposit amount. It's inspiring to see how hard you're working towards expanding your options and securing your financial future. Wishing you all the best of luck in your journey! 🙏
How did you go mate
Google SA Virtual Health/Hospital.....that's your career future and pretty sure you won't be on $100k. Take a risk and buy a pet, but don't lock yourself into being a Landlord when Blackblob is on its way to buy housing stock. It's done deal so start reading and googling.
$100000 a year? You have zero worries if you can keep that sort of earnings up… just don’t spend money on stupid stuff like travel or new cars etc. You’ll be in a new house in no time.
@@pixiepqueen I agree ! I've well since hit this goal in savings, but I've held off on purchase and decided to aim for a 20% deposit for something in the 400k range rather than chasing govt schemes (this is because my rental situation has drastically changed- I'm only paying $400 a month so I'm able to save much more efficiently so I'm putting off buying until I'm really comfortable with savings 😅)
Thanks for taking time to put all the details
No problem 👍
You can be a permanent resident now for the first home guarantee. Beeing citizen isnt a must anymore 😊
wow
thank you so much for your video
Just subd..Can you do selling a house in aus step by step thanks and good job mate!
Thanks Arns, appreciate the sub and will put it on the pad!
Thanks, Rough estimates is helpful to know if I am in the ballpark.
No worries! thanks for watching
Thank you for making these videos, very helpful.
Glad it was helpful!
Amazing explanation. Thank you
Thanks and appreciate it!
Thanks for the info. I would like to ask question. We had bought a land and hoping to start the build last Aug but there was an issue with the permit. We have to start all over again with the loan prcess and change the building type. We decided to just sell the land and buy an established house. I'm a little confused. Are we still to be considered for home buyer if we go for that option?TIA
Thanks Grace, that's a great question and might be one that would need to be double checked through the office of state revenue as it's a bit outside to box
th-cam.com/video/nRLgnM1BtsM/w-d-xo.html
For first home buyer..which one is more secure and advantage... buy new unit available or secondary unit...pls give some advices...
Certainly! Both buying a new unit and a secondary (pre-owned) unit come with their own set of advantages and considerations. Here’s a simple breakdown:
New Unit:
Modern Design and Features:
New units often come with the latest design standards, modern features, and up-to-date building codes.
They may also have energy-efficient systems which can save on utility bills.
Warranty:
Many new units come with builder warranties that cover the cost of repairs and maintenance for a certain period.
Customization:
There's often more scope to customize a new home to your taste before or during construction.
Less Maintenance:
With everything brand new, there will likely be fewer repairs or maintenance issues initially.
Potential for Growth:
If the area is up-and-coming, there could be potential for property value appreciation.
Community Amenities:
New developments often come with community amenities like gyms, pools, and parks.
Secondary Unit:
Established Neighborhood:
Secondary units are typically in established neighborhoods with known amenities, schools, and community vibe.
Price Negotiability:
There might be more room for price negotiation compared to buying a new unit.
Immediate Availability:
Pre-owned homes are usually ready to move into sooner than new builds.
Historical Charm:
Some buyers appreciate the unique charm and character of older homes.
Potential for Renovation:
There might be opportunities to increase the property value by making updates or renovations.
Mature Landscaping:
Established gardens and trees can be a desirable feature.
In terms of security, both types of units can provide a good level of security, but new units might have more modern security features installed.
Making a decision between a new or secondary unit would depend on your personal preferences, financial situation, and long-term goals. It might be beneficial to consider factors such as the location, community, budget, and your readiness to handle any maintenance or renovation tasks. It's also advisable to consult with a real estate professional or a mortgage broker to get a better understanding of what might suit your circumstances best.
do you need to prove good superannuation in order to be accepted?
No, your superannuation doesn't directly affect your mortgage application in a uniform way across all ages. It's true that younger applicants may have less in their superannuation funds compared to those closer to retirement age, simply due to fewer years of contributions. However, this difference in superannuation balance isn't a primary factor lenders consider when assessing your ability to repay a home loan.
@@MortgageBrokerAustralia Perfect Great to know appreciate your reply 🙏🏻
Good one
Thank you! Cheers!
So you are in possible risk of no only losing your house but also your parent’s ? 😵💫😵💫😵💫😵💫
Thank you
You're welcome
Starting this process, slowly.
Maybe I missed it or I just know nothing about the process (yet) but what actually is a solicitor? could that be you or is that a seperate entity?
cheers
Great question, a solicitor is a legal professional who is trained and licensed to practice law in a specific jurisdiction. In the context of property transactions, a solicitor typically acts as a conveyancer. This means that they are responsible for handling the legal aspects of transferring ownership of a property from one party to another. This includes drafting and reviewing legal documents, managing the exchange of money and other financial considerations, and ensuring that all legal requirements are met throughout the process. As a property lawyer, a solicitor's role is to advise clients on their legal rights and obligations, and to represent them in legal proceedings if necessary. They are also responsible for ensuring that the conveyancing process is completed in a timely and efficient manner, and that all parties involved in the transaction are protected throughout the process.
@@MortgageBrokerAustralia Thanks for getting back to me, Will contact you in I assume a year and a half lol
🤣 sounds like a plan!
Any suggestion which banks charge low interest for home loan
We can have a look at your options, it will depend on deposit amount etc - hit us up for a free assessment - www.huntergalloway.com.au/get-free-assessment/
Your service of mortgage brokery is free..?
Thank you 🙏
You’re welcome 😊
Awesome video thanks
Glad you enjoyed it
Should i go for big house or unit as first home buyer?
Certainly! The decision between purchasing a larger house or a unit as a first home buyer is a significant one and depends on several factors:
Affordability:
Your budget is a primary consideration. Houses are generally more expensive than units, so it's important to determine what you can comfortably afford without overextending yourself.
Location:
Units often are located closer to city centers providing easy access to amenities and work, whereas houses might be situated in suburban or rural areas. Consider the location that suits your lifestyle and work commitments.
Maintenance:
Houses usually require more maintenance than units, both indoors and outdoors. If you prefer lower maintenance, a unit might be a more appealing choice.
Space Requirements:
If you need more space or plan to grow your family in the near future, a house may be a better fit. Conversely, a unit might suffice if you have smaller space requirements.
Investment Goals:
If you're viewing this purchase as an investment, consider the potential resale value and rental income opportunities. Sometimes, units in high-demand urban areas can offer good rental yields and appreciation.
Lifestyle Preferences:
Your lifestyle preferences will also play a significant role in this decision. For instance, if you value having a garden or a larger outdoor space, a house might be more suitable. On the other hand, a unit may offer more community engagement and possibly better security.
Community Facilities:
Units in a complex often come with shared facilities like a gym, pool, or communal gardens which can enhance your living experience without the personal maintenance responsibility.
Privacy:
Houses generally offer more privacy compared to units. If privacy is a priority for you, a house may be a more appealing choice.
Future Resale Value:
Consider the potential resale value of both options in the future, keeping in mind the growth trends in the area you are looking to buy.
Finance Approval:
Lastly, it might be easier to secure mortgage approval for a unit due to its lower price point. However, it's advisable to consult with a mortgage broker to understand your financing options better.
Each of these factors could impact your decision, and it may be beneficial to weigh them according to your personal circumstances and long-term goals. It might also be helpful to consult with a real estate advisor or a mortgage broker to get a professional perspective tailored to your situation.
We are already in the big crash, Inflation is a catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated. If you want to stay green, you have to rely on a lot of diversification. Currently up 14% and being careful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.
People believe their currency has the worth it does because they have no other option. Even in a hyper-inflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins...........
I understand that the current economic landscape, particularly in relation to inflation and the CPI report, has you concerned. It's a challenging period, and you're right to point out that the FED's potential actions could have a significant impact on various markets, including housing.
Diversification can be a good strategy to hedge against market uncertainties, as you've mentioned. A balanced portfolio often helps mitigate risks, especially during times of economic turmoil. It's great to hear that you're currently up 14%; that's a testament to your approach.
In terms of housing and mortgages, market conditions like these can present both challenges and opportunities. Interest rates may be affected, which could influence the mortgage landscape, both for new buyers and those looking to refinance.
While a savings account might not offer much by way of interest these days, it's often considered a safer, more liquid asset, particularly in uncertain times.
If you have any questions or would like to discuss how these economic conditions could affect your mortgage options, we're here to help make the process as stress-free and uncomplicated as possible.
500k house? What cardboard house are you buying? Medium is around 850k
That's why I'm moving to perth
A non capital city house? Why is everyone obsessed with Melb and Syd? The USA would never hence they have cities everywhere, Aussies need to get over it
bg music hella annoying. Good vid otherwise
Sorry about the music, mate! We were aiming for a vibe but might've missed the mark for you. Cheers for the heads up - we'll keep it in mind for next time. Glad to hear you still found the vid useful though! If you've got any more thoughts or need some info, just shout. Appreciate your feedback!
Will banks loan you a 30 year lone if you are 40
Yes, banks can offer a 30-year loan to someone who is 40 years old. Your age alone doesn't typically prevent you from qualifying for a 30-year mortgage. The banks will also consider other factors like your income, credit history/assets, and employment status to determine your eligibility.
Why not buy a home that costs like 200k?
Are you missing a 0 there?
@@jasondads9509 no?
That literally does not exist