Browse Forums General Discussion 1 May 30, 2016 4:13 pm Hello all New here. Like many others joining here hoping to find some advice and its my first post. My situation 1. Single income family with wife and a kid. 2. Currently on 130k and have around 70k genuine savings. 3. Dreaming to call something our own in couple of years. 4. Based in Sydney Dream : a 3/4 bedder house, slightly spacious and with a bit of a backyard may be Question - 1. What would be the ideal thing to do at this stage? a. Going for a house and land package? If so in what price tag? b. Going for only land at this time somewhere - where tentative registration a bit far away - which gives time followed by build? c. Going for off the plan ? d. buy an apartment / unit now - live in for couple of years hoping to gain some equity then go for the dream? f. or just wait and try to save more? I'm probably repeating the question as the dream/question same as of many others - and probably answered numerous time. But thought I'd still create this post. I'm going through old posts though and while slow gaining valuable insights. I apologize if I'm wasting anyone's time. Btw - I was looking at Leppington/Edmondson Park - what do you think about this places? Any advice ? Thanks in advance. Appreciate for reading and responding. Re: Joining the queue -first home buyer - help to decide 2May 30, 2016 4:46 pm It's really hard to give you advice, especially as I don't know a thing about Sydney property. I always figure its best to focus on your dream, don't go off trying other things if you already know what your dream is. Have you spoken to a broker yet? Always worthwhile, and also have you looked at the cost of your dream house in your dream area? It will give you a starting point to know whether you need to save more. I've always heard you should aim for 20% deposit for the house plus costs, but I went in with 5% deposit and thanks to massive title delays managed to save the balance of 20% deposit by the time I had to pay up. If I had waited that extra time to buy, I would have had to spend another 20k for the same house and land. Its always difficult to know if your making the right decision at the time, but just try to make decisions you can live with. All the best Re: Joining the queue -first home buyer - help to decide 3May 30, 2016 6:33 pm When I set off on the property journey 40 years ago. The idea was to get something I could afford. . . in our case a 2 bedroom townhouse. I did get round to building the 1st 'dream' house but not until 15 years later and that was 200km from Melbourne. The 'dream' suburban house took another 12 years. . . but we only stopped in that for 6 years before deciding to downsize. Owning property is a journey. Going straight to the 'dream' can lead to spending more than you can afford at that time and finish up as a nightmare! The Harder You Try - the Luckier You Get ! Web site http://www.anewhouse.com.au Informative, Amusing, and Opinionated Blog - Over 600 posts on all aspects of building a new house. I thought this would be a popular question but I haven't been able to find any similar posts. Perhaps I'm wording my searches wrong? When you have car insurance and the… 0 6616 Not much in this responce. My suggestion is, what are you looking to build and why. This will all be impacted by the local councils planning scheme. Familiarise yourself… 6 5862 So it looks like we finally have some movement on site! Definitely later than expected, but I'll take any progress at this point. I'll drop by over the weekend to get… 5 27712 |