Browse Forums Home Finance Re: Home Loans for First home Buyers 8Sep 04, 2009 1:10 pm Renovation Thread: viewtopic.php?f=31&t=38489 Re: Home Loans for First home Buyers 14Sep 14, 2009 3:55 pm I think the first home saver accounts will become more prominent. When I looked into these, I thought it would be good, but didn't want to wait the 4 years to be able to use the money!! Some people don't have time to do the job right the first time, but seem to have plenty of time to fix their mistakes. Build Thread Re: Home Loans for First home Buyers 15Sep 14, 2009 8:59 pm Richo I think the first home saver accounts will become more prominent. When I looked into these, I thought it would be good, but didn't want to wait the 4 years to be able to use the money!! Personally I think they are terrible, hence the extremely low take up - I expect that the legislation around these accounts will change. Probably the ultimate penalty part of it, that is if you do not buy a first home with the money in that account it all gets transferred to superannuation... life changes who knows what happens the last thing I would want is $20,000 of my hard earned savings transferred to superannuation. Re: Home Loans for First home Buyers 16Sep 14, 2009 10:16 pm My husband and I rented for 7 years before we finally had enough money to buy a house. We did not have the luxury like our friends that have parents that can afford to give us a few thousand here as a deposit or pay for our wedding or buy our first car so we did it all our own and it was tough. All of our friends had parents handing them money and going guarantor on their loans and all the time we were working our *** off to pay off someone else's crappy little unit. If we didnt have this grant and the deposits stayed at 10% like they are at the moment, I fear we would have been stuck renting for the rest of our lives. I think it is becoming harder and harder to get into this market and we were VERY VERY lucky to get in when we did. As a renter I honestly thought I would never get out of the trap - i'm still in it for at least a few months. Our rent rises each year and when we have had to move it has had to be to an even smaller place that is more expensive (although I don't think it can get much smaller than where we are now). I think those that are living at home with parents saving will be the ones that will still be OK but in the end I think it is the renters that will lose out Building Sandhurst 36 Porter Davis Currently Fixing Home Loans for First home Buyers 17Sep 16, 2009 11:19 pm chickad23 I think those that are living at home with parents saving will be the ones that will still be OK but in the end I think it is the renters that will lose out I agree, even rent on average house in the outer western Sydney suburbs are about $350 per week now. No wonder the Commonwealth Bank recently published a report on the large number of suburbs around Australia in which it is cheaper to buy a home and pay off the mortgage than pay rent. Re: Home Loans for First home Buyers 18Sep 23, 2009 2:46 pm Zerosignal Probably the ultimate penalty part of it, that is if you do not buy a first home with the money in that account it all gets transferred to superannuation... Most people I discussed this with have stated that they are not comfortable with locking away their savings until retirement age if they don't buy a home with the savings. 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 27433 11 40698 Thank you. Do I use timber floorboards for stairs or do people use timber treads? Or is both the same? 6 7258 |