Can I REALLY Buy a House on a $70k Salary in Australia?

[@MortgageBrokerAustralia]

📚 My Free Resource Hub & Education Community 👉 go.huntergalloway.com.au/hub

[@lachielil456]

I believe you failed to mention why Woodbridge and Logan Central are so affordable. What's the point of buying a home if it's only going to be vandalised and broken into. Those suburbs are so cheap because they are plagued with crime.

[@TheSPazCORE]

That's true. I wouldn't live there, even if it was free.

[@sgcl2276]

It's getting gentrified, I have a great job although still cannot afford in Logan. You need to be on $40 to $50 per hour just to live there on one wage.

[@mohhingman]

@@sgcl2276indeed. It already happened to Caboolture.

[@tokyoknight6676]

If you live in Sydney definitely not. My wife and I are on double that each and barely made it after saving all my wage for 5 years.

[@MortgageBrokerAustralia]

Thanks for sharing your experience. The cost of living can be brutal, especially in Sydney with house prices where they are.

[@jasonhart8580]

Me and my wife combined income approximately 200k, finally just purchased a hold house in western sydney recently for 1.1m

[@Zootlordofchaos]

@@jasonhart8580 how long did it take you to save for down payment and how much.

[@mkum2141]

Fuck me. This is quite discouraging as a young person in Sydney. I guess I’ll be living with my parents till 40

[@claytonives-og6kv]

Over 100k a year eg Sydney to live comfortable

[@DarrenReidAu]

Just incase others are used to counting their wage as before tax, that’s more like $92k if you are taking home 5833 a month. Otherwise, good info about some of the additional costs.

[@joshuakelley9403]

So if, you have a 70k salary in brisbane, and then you move to chinchilla...that 70k salary becomes a lot less im gonna guess. Sure seems like some major miss management on a macro level that have brought us to this point.

[@yoonsiklee6151]

Well, I can't even dream about house as i live in Sydney. house here is really something very expensive. you need to be either specialist, doctor, business owner, or engineer. i got a unit. well at least i secured my own place to chillax without concerning of being kicked out by landlord.

[@MortgageBrokerAustralia]

It’s definitely tough in Sydney with the housing prices being so high. But owning your own unit is still a great achievement! Having your own place to relax and not worry about rent or landlords is a big step towards security and peace of mind!

[@Hoollyxbrown]

Well my recommendation is to buy a cheap, shitty house then do renovations. I did this and i live in a really nice house by the beach. I mean it’s the gold coast so it’s more affordable then sydney, but it’s still really expensive there. I earn about 80k annually, i work 2 jobs, at woolies and i dog sit in my spare time. I spend about 3/4 of my pay on bills, food, clothes etc, and the rest on renovations, or cheap decorations from kmart and stuff

[@MortgageBrokerAustralia]

That’s such a great strategy! Buying a fixer-upper and doing renovations is a smart way to build value in a property, especially in a pricey area like the Gold Coast. It’s inspiring how you’re managing everything-working two jobs, budgeting, and still finding ways to make your home beautiful with creative solutions like Kmart finds. It really shows that with a bit of hard work and a clear plan, it’s possible to turn a property into something amazing without breaking the bank. Well done!

[@Hoollyxbrown]

@@MortgageBrokerAustralia thank you so much! I mean i was struggling a lot before i built my house so i started thinking! But you’re so sweet!

[@xyzxyz4575]

if house price to income ratio greater than 7 or 8 dont even think about it, for instance, house $600k and your income is $70k a year.

[@edwardfrancis1409]

what are the options if you buy and rent your fist house ? and which gov scheme you are still eligible to use ? FHSS is still possible to use for buy to let after he 6 months you lived in the house ?

[@kawthooleidevelopers]

I have bought one but of course in a certain area.

[@MortgageBrokerAustralia]

Yeah exactly!

[@gothops2632]

Hey mate, what's your ethnic background, if you don't mind me asking?

[@MortgageBrokerAustralia]

Of course, our parents are Italian background! Our last name is Vecchio - means old in Italian :-)

[@markyburgs]

there are..... but they are either in undesirable areas or in the absolute sticks....

[@CarbonTaxLOL]

Launceston here we come lads

[@OpEditorial]

I'm going to have to relocate to some low income shit-hole area. Fortunately, I can work anywhere.

[@AA.AA.399]

My 2 year old daughter always said: Oh No No No No😂😂😂

[@MortgageBrokerAustralia]

Hahaha!

[@Cheeky_Chelsea]

hmm, so if i get some plastic surgeries to help me attract a partner to buy a home with me then it would be a good investment

[@cathiematthews1359]

I am going to call you out on your BS! If you are earning $70K, you are probably not living further out of the cities, in the more affordable areas. Houses ‘in the sticks’ are cheaper because they aren’t close to essential amenities. E.g. schools, medical, shops etc. Jobs ‘in the sticks’ are usually part time/ casual and are usually lowered paid. (Unless you are a Doctor or nurse). So younger people move to the cities to get a job, but housing is more expensive. The best way to beat this crap, is to start a KZbin channel like this one!

[@CitizenNumberOne]

Facts

[@prancer4743]

No no no next this is 2024 not year 2000🫣😳👀🇦🇺 next