 |
|
| Author |
Topic: Best way to buy a house.. |
|
SigMan
Guardian
|
  
Posted on: Mar 14, 2005 - 10:03am
|
cdior and greencheesecake,...hello and yes I can't seem to find the product that smurfette is talking about. The 7 year-paid off plan! I know that this is possible IF you pay heaps of advance repayments BUT what smurfette said if I am not mistaken is that this is now the average nowadays. Sa pulso pa lang ng mga may loans dito I am quite sure this is not the truth. I have a a very good idea about the 100% offset loan and how it lessens the principal amount where interest is calculated thereby cutting the amount of interest you pay within the loan duration and also cuts the loan duration in years.
Though I am still waiting for smurfettes' product at malay mo ako ang unang mag-refinance sa kanya kung talagang tumpak ang mga facts. Mahirap lang paniwalaan sa sobrang bilis.
To Vanguard, yes it is still possible to buy even if you are single basta alam mo kung anong suburb sisilipin and open ka sa purchase ng Townhouse. I wouldn't advise a unit on the outer areas but within the CBD ok yan. Medium density housing is a good alternative than a high density housing since you still own land though you also pay strata fees. Its a good compromise. For example, in QUAKERS HILL you can still find townhouses less than 400K pero you are buying iin the Hills District! I reckon in 3 years time Quakers Hill residents will be very happy with their capital gains. Just look around Quakers and see how its surrounds have increased in price. yan ang example of silip-silip and konting research. You can still get a bargain in some outer suburbs if you know how to look. 75K is quite high and if you have the papers/docs to prove to the lender as discussed earlier...Look to buy around 2006-07 kasi spooked ang market. You are buying in a cold market so totoo ang presyo. I really doubt kung bubulusok pataas ang interest rate though who knows really :-) Just my intuition.
Cheers and goodluck
|
Total Posts: 1420 | IP
|
|
SigMan
Guardian
|
Posted on: Mar 14, 2005 - 10:09am
|
"The average of a loan being paid out nowadays is actually 7 years!!! " -Smurfette
Eto yung sabi niya. Talagang interesado ako!
|
Total Posts: 1420 | IP
|
|
TruBlu
Guardian
|
 Posted on: Mar 14, 2005 - 10:15am
|
I will also re-finance my loan if smurfette can claify the following:
1. Risks - there are risks all around, we just have to individually gauge them where we are comfortable.
2. Costs - Sabi ni smurfette wala raw costs sa kanya. Talking about strictly "re-financing" and given the penalties involved will the pereceived benefits of re-financing to a fast track loan out weigh or absord the penalties? Simple answer might be "YES" because at the end of the day a 30 year term is paid of in 7 years may benefits but what are the specifics.
3. Which financial insititutions? Do we have to sign up first with smurfette to receive this info?
4. List of all associated costs in setting up these loans through mortgage brokers. IMHO the mortgage brokers might not charge costs but the banks or finacial institutions might have these "penalties" for the borrower and nt necesssarily the broker. It might be good for us to discuss these issues to better understnad the product "smurfette" is promoting.
Ruegue para la misericordia |
Total Posts: 2599 | IP
|
|
angelito
Community Member
|
Posted on: Mar 15, 2005 - 6:31pm
|
"I am a bit worried about where you get the information that the average income for an individual in NSW is 75K/yr." -- GreenCheezCake
What's the average income for an individual in NSW? Kahit ave. wage earner ka lang kaya rin bang mag-loan?
|
Total Posts: 36 | IP
|
|
SigMan
Guardian
|
Posted on: Mar 15, 2005 - 7:37pm
|
My guesstimate is that around 45 to 55K ang average na suweldo ng NSW. Kung isa ka lang mukhang tagilid yun, pero kung dalawa kayong working kaya yun.
|
Total Posts: 1420 | IP
|
|
GreenCheezCake
Community Leader
|
Posted on: Mar 15, 2005 - 10:32pm
|
Quote:
I am a bit worried about where you get the information that the average income for an individual in NSW is 75K/yr. -- GreenCheezCake
What's the average income for an individual in NSW? Kahit ave. wage earner ka lang kaya rin bang mag-loan?
|
|
Average weekly total earnings for full-time adult non-managerial employees were highest in the Australian Capital Territory ($881.10) and New South Wales ($878.50) and lowest in Tasmania ($790.50) and Queensland ($809.20).
- Australian Bureau of Statistics, May 2002
I ran this through one of the bank's calculators and this should be enough to get a loan of 200K plus/minus 10K. It may be hard to get a house at this price in Sydney suburbia, but there might be some older units/apartments that may still be available.
Cheez  |
Total Posts: 387 | IP
|
|
TruBlu
Guardian
|
Posted on: Mar 16, 2005 - 8:57am
|
Quote:
Average weekly total earnings for full-time adult non-managerial employees were highest in the Australian Capital Territory ($881.10) and New South Wales ($878.50) and lowest in Tasmania ($790.50) and Queensland ($809.20).
- Australian Bureau of Statistics, May 2002
|
|
Can't argue with statistics! Thanks GCC!
Quote:I ran this through one of the bank's calculators and this should be enough to get a loan of 200K plus/minus 10K. It may be hard to get a house at this price in Sydney suburbia, but there might be some older units/apartments that may still be available.
Cheez
|
|
Unfortunately, even older apartments or units are priced around the $300K mark! Within the inner Sydney suburds ( YES this inlcudes some parts of the St. George district up to Hurstville), a modest 2 bedroon unit say 20 - 25 years old will cost a new buyer about $320K, a 50 year old double brick 2 bedroom duplex about $600K
A brand new home in one of the satellite suburbs in the Western suburbs
or Sydney South West ( around 45min - 1 hour travelling time on public transport) will cost about $450K.
A wage earner earning the average weekly income can get a loan. The issue here is this " Is your borrowing capacity enough to be able to buy your dream home?".
Ruegue para la misericordia |
Total Posts: 2599 | IP
|
|
richard mayette amor
Guardian
|
Posted on: Mar 16, 2005 - 2:45pm
|
If you goto www.realestate.com.au it has a loan calulator with a sliding scal,e as an EG $500,000 X7 years cost $7,607.59 a month. the sacle goes up 30 years. it also has all the states,cities, towns which will give you an idea of prices of where you want to buy.
Sir Richard
|
Total Posts: 3842 | IP
|
|
richard mayette amor
Guardian
|
Posted on: Mar 16, 2005 - 3:11pm
|
If you goto www.realestate.com.au it has a loan calulator with a sliding scal,e as an EG $500,000 X7 years cost $7,607.59 a month. the sacle goes up 30 years. it also has all the states,cities, towns which will give you an idea of prices of where you want to buy.
Sir Richard
|
Total Posts: 3842 | IP
|
|
SigMan
Guardian
|
Posted on: Mar 16, 2005 - 3:39pm
|
New South Wales ($878.50) X 52 weeks = $45,682.00 aba pasok yung guesstimate ko ha! :-)
|
Total Posts: 1420 | IP
|
|
|
Forum Legend |
|
Community Member
|
|
Reply
to topic |
|
More
than 150 posts | Community Builder
|
|
Reply
to topic with quoted message |
|
More
than 300 posts | Community Leader
|
|
Edit
Message |
|
More
than 500 posts | Beacon
|
|
View
profile |
|
More
than 1000 posts | Guardian |
|
Email
member |
|
|
