Buying investment property on part-time/casual wage?

[dan_89]

Has anyone here purchased a home on a part-time or casual wage?

My girlfriend (just turned 21) is currently studying nursing and is in her 2rd year of studies (3 year course). She is currently working part-time at the local RSL and her circumstances are as follows;

- Earning around $400-600ish per week (on average)
- Currently living at home (minimal expenses)
- Currently has $45k in online saver account.

Given her current savings, is there any way she would be able to get into the market on a part-time income or is her best option to wait it out until she moves into a full time nursing role? The other option is shares.. although she has her heart set on buying a home which is great.

Any advice would be greatly appreciated! Thanks in advance.

 

[Corey Batt]

Not a problem at all. I have a LOT of clients in PT/casual employment, who build large portfolios without issue. Her income is at the lower end of the spectrum, but if she is purchasing an investment property this isn't much of an issue if she doesn't have many existing ongoing costs as you've indicated.

 

[Jamie M]

Not normally an issue and quite common.

Part time isn't really treated any differently since the income is consistent.

Casual can be ok depending on a few variables - the most important usually being the length of time with the current employer.

Cheers

Jamie