When was your first purchase?

Year 2000 at 25 years old. 3 bed townhouse at Oxley Park (st Marys) for 145k. I was on 42k. I bought on the first weekend of the First Home Owners Grant. Sold it 3 years later for 210k as I'd bought a new PPR by then and having 2 properties was stretching the finances.

 

I had just turned 21 and purchased in Slacks Creek (Logan) for $220k in 2006. It is a house on 920m2 of land and needed about $20k spent on Renos. I still have it and it's probably worth around $350k now. It took me another 6 years before I bought anymore though. I was on $48k at the time.

 

My first purchase was an IP in Umina Beach NSW in 2010 when I was 27 years old.
I paid $325k at the time and was earning $52k a year.

Very happy with it as my first purchase. It's paying for itself and has had the same tenant in it since I bought it. Right now, it's worth somewhere between the $450k and $500k mark, but it's also on an 800m2 block and zoned medium density, so down the road, I want to put townhouses on it.

 

Bought a 1BR Apartment as my PPOR in 2009 at age of 22 for 270k. Was a new place that had originally been listed at 350k. I did it because the FHOG was really good at the time (24k and no stamp duty) and was cheaper to own than rent. I was earning maybe 30k a year.

It hasn't performed that well in CG and would only be worth what I paid. However I used to holiday let it at christmas time and that would pay my mortgage for the year. Have paid down loan a fair bit and been able to use equity on other purchases since.

 

My 1st property purchase was in 2006 in Macgregor Qld it was a 3 bed 2 bath two story in red brick circa 1970.

I was 26 years old earning 80k + wife $35k.

It was a deceased estate and I was able to buy it for $305,000 - we were so nervous, it was such a lot of money

We had 30k savings + FHOG, borrowed @ 95%, paid LMI and used our surplus as a buffer and for renos.

I spent 14k on renovations, did all the work myself and had it valued 6 month later @ $385,000

In 2015 it is worth $550,000 -

 

Very interesting to read about other purchases.

We bought a 2bed 2bath 1pkg OTP townhouse in Sydney's south for $410,000 in June 2002, we moved into the property as our PPOR in Oct 2002. At the time the FHOG was $10,000 with no stamp duty concessions.

I was earning $27K and other half on about $80K.

We took very good care of it and put in high quality fixtures & fittings and renovated the kitchen and the two endlessly leaking bathrooms. We sold it last week at auction for $835,000.

vtt

 

Still holding?

 

Age: 24
Bought: 2011
Where: Watsonia (Melbourne)
Price: 510,000
Salary: ~$120,000 p.a. (commission made it change).

Reason I bought, been a dream of mine since I was 16 and worked really hard making it a possibility by saving up a deposit. Was living in Toorak at the time (where my employment was as I came from Brisbane) and wanted to find something similar to Brisbane property. Ended up picking the house as it was renovated and could grow into it (4bed + Study, 2 bath) and got below bank val which was a bonus (530k but I was willing to pay $550k).

Now worth high 600s but looking at drawing out for another purchase.

 

In December 2005 I settled on a 2/1/1 unit in Glebe, NSW. One of 18 units in the block. Lived it in for 8 months and has been rented out ever since.

Purchased for $263K. At age 26 it was quite a difficult decision between purchasing property and committing to a mortgage, or living overseas for a few years. Don't regret it now..

 

I was 21 when I first purchased a two bedroom duplex in 1982 for $36,000 and sold it five years later for $97,000. I think I was earning approximately $150 per week back then.

 

Age: 32
Settled August 2014
$285k 2 bed villa in Kingswood
$50k a year

 

That wouldn't be half bad! I am being super conservative and aiming to retire by 50! BUT having a super pricey dream PPOR is the main reason! It could certainly be earlier though! I just like to be prepared for the worst case scenario!

I think I overpaid (slightly) but am pretty chuffed with what they neighbouring property just sold for! So maybe not!

Age:24
Year: 2014
Price: $297,000 3-1-2 Blackmans Bay, TAS
Income: $22,000

Thankfully this will be my last financial year of being a student!

 

How did you do that as a student? Jeez I'm clearly doing something wrong lol

 

Great work but I think you must laugh at people saying it is impossible to buy a property these days, it is like a broken record you will hear all the way into your retirement and then they will say it was all luck and still cant keep happening.

Good luck with your journey!

 

Age:20
Year: 2000
Price: $215,000 3 bedder in Smithfield NSW
Income: $35,000

I was lucky in a way with my parents lending me the deposit. I still have the property today as an investment property.

 

Year: 1994
Price: $90k for a 2 brm unit Meadowbank NSW
Income: $37,000

Its worth over $520k

 

2005, I was 27 and earning 40k p.a.

Apartment I bought with a mate in Victoria Park. Did our sums and figured we could live in it for awhile and that it would be positively geared when we moved out. .
paid 184k. 2006 Perth prop boom took hold and was valued by the bank at 300k 8 months later.
sold in late 2012 for 285k

 

Have you made a report or graph of the data? I reckon your going nuts for the data and demographics here. Or did you do that on SS and have got a picture of the people behind the avatars here?
It is an interesting read

 

I did play around with some data out of interest but nothing beyond that.

I'm a sucker for knowledge and data. Ask some of the regular posters how many polls I made on SS in my time

 

2002, 25 years old, bought a $97k block of land in Pt Cook Melbourne.

Was earning a massive $20k, partner was just graduating as a teacher.