Hey all,
first post, although have been trawling the boards for a while now. The majority of posters here seem to possess great knowledge with regards to investing and other inexperienced posters have recieved some great advice so i suppose i'll throw my hat into the ring and give you the low down on my current situation.
I'm 21, i completed my degree last year and am paying off a $18,000 HECS debt. I work full time in the Adelaide metro area with an annual income of approximately 60k. I anticipate by mid next year i will have saved approx 40k. I want to buy a property to live in, not as an investment. Depending on where i buy am i likely to find it quiet hard to get into the market? I'm pretty careful with my money but everything with regards to buying a place is so daunting. With my wage what would the banks likely lend me? How much should i lend with the current housing and intrerest rate trends? How big is the struggle likely to be. If i buy in a years time am i going to miss the boat of the current stable market? Any advice would be greatly appreciated, if any other info is required i'll be back and let you know. I'm extremely inexperienced with few information resources available, besides you guys.
Cheers.
P.S - sorry for the long post!
first post, although have been trawling the boards for a while now. The majority of posters here seem to possess great knowledge with regards to investing and other inexperienced posters have recieved some great advice so i suppose i'll throw my hat into the ring and give you the low down on my current situation.
I'm 21, i completed my degree last year and am paying off a $18,000 HECS debt. I work full time in the Adelaide metro area with an annual income of approximately 60k. I anticipate by mid next year i will have saved approx 40k. I want to buy a property to live in, not as an investment. Depending on where i buy am i likely to find it quiet hard to get into the market? I'm pretty careful with my money but everything with regards to buying a place is so daunting. With my wage what would the banks likely lend me? How much should i lend with the current housing and intrerest rate trends? How big is the struggle likely to be. If i buy in a years time am i going to miss the boat of the current stable market? Any advice would be greatly appreciated, if any other info is required i'll be back and let you know. I'm extremely inexperienced with few information resources available, besides you guys.
Cheers.
P.S - sorry for the long post!