what to do...
ive been approved for a 300k loan... i earn 52k plus overtime and repayments r like 460 a week...


1 buy a house

2 save for a lill while longer and get more of a deposit

or

3 haha.. spend my deposit on the escort and have a weapon of a car..


im only 21 but would love to get ahead and buy early.. but i dont wanna live like a jew for eva...

dunno guys lol help
chris

Buy a townhouse and put tennants in it...you will still have a life

yeh i will be renting it out in a yr or so..after i live in it so i can still get the grant..

im lookin at a unit.. townhouses r a lill bit more expensive but if one comes up ill b on it...

buyin a place is a better option

I'm only a young guy myself but have heard from a few people that they wish they brought a house earlier rather then spend 20k on their car etc.

I can see the benefits that you will pay it off a lot earlier and will have it as collateral later on should you decide to buy a 2nd house (for renting purposes maybe, investment) or to do up your car then.

I'm looking to be buying a house before im 23 (probably unrealistic), but its worth a shot anyway.

The bigger deposit the better, either way i'll need to work hard and get as much cash into it as I can for the first 5-10 years.

my advise, i would buy the house first, live in it for a year as you said, this will give you a chance to see if you can afford to run the house as its not just the mortgage payments you have to make, then if and when decide to rent it out, you have to make the decision where are you going to live, if it is in the house and renting rooms out then out of the money you get for the rooms and bills etc. save that up and then buy yourself the new escort you want out of the spare money.

the plan is and always has been to move in for a yr or so... then rent it out and move back in with the old girl and forget about it neva live in there again and just take rent and pay the rest off each week... i neva plan on moving into it and staying there..

I bought a house just before I turned 21. I recently moved into it (now 24). In my circumstances the tax benefits + rent far outweighed the grant for me financially.

Buy a house, one of my mates waited to save more of a deposit, the problem was is that house prices went up by a lot more than the extra deposit he saved.

Buy now lock in a rate as I dont see them coming down live a bit tight in 2 years you will be the king a good tip is to have some one move in with you they will pay cash which is you Escort / toy money at 21 this will set you up for life be careful about having women in your life spend to much time in YOUR house this can lead to probs should the relationship fail if they do stay have a rental agrement that is my 2 bobs worth


John

Buy something

Youngest daughter did it 18 months or so ago, copped the grants,struggled for the compulsory 6 months, moved back home and is
laughing now with the tenant paying most of the mortgage

She is building equity she will have for the rest of her life and
got a nice suprise from the tax man this year to boot

Buying off the plan is good idea as you save plenty on stamp duty and
i believe there is a 2.5% depreciation you can claim on the new building for the next 40 years

Chris