Will first home buyers be locked into apartments forever?

Discussion in 'Property Market Economics' started by Jezzah, 16th Jun, 2019.

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  1. Propin

    Propin Well-Known Member

    Joined:
    7th Mar, 2016
    Posts:
    3,621
    Location:
    Perth
    Not Sydney or Melbourne. I went cheap for my first property, a unit. Paid $95,000. My partner and I paid it off in 4 years. Over the next year we saved $50,000 in cash. We sold and purchased a $175,000 rundown house on a huge block, had a small mortgage and went down to one income. I think one of the advantages of buying cheap first is that you can chip away on the initial loan rather than paying a huge amount of interest. Houses can have a lot more expenses and maintenance also.
     
    Last edited: 18th Jun, 2019
    paulF and Marg4000 like this.