Nth Brissy & Hobo-Jo,
We are not "having a stab at FHB's" on this thread, or on this site. We don't raise the complaint about affordability - you guys do; we just respond, the same way a parent does to a child who says "it's too hard", when as a parent we know the whole planet can do it.
We hear the complaint about buying your first home being so tough all the time, and for all of us that are older, and have bought houses long before you started to earn an income, we had it tough as well, and we just found a way to buy
something.
We could not buy where we wanted, saving a deposit was just as hard, and there were no LoDoc or NoDoc loans around then to "get us over the line" like now.
Yes, it is hard to move from family and friends, but we all did it; it's what you have to do. Life's not fair.
Are you gunna fold, or fight? Folding is easy, and keeps you poor.
For those FHB's in Melb who want to live in a good area, close to work, nightclubs etc, etc; have a look at these two:
This is Richmond; 10 mins from the CBD at the most. Near trains, buses, parks, shops -
http://www.realestate.com.au/cgi-bi...eader=&c=51027418&s=vic&snf=rbs&tm=1197902098
OR:
Frankston: one of the hotspots at the moment. Near where I live. On the Bay, great infrastructure, freeway, train; both 40 mins to CBD (if you must go there).
http://www.realestate.com.au/cgi-bi...header=&c=2318865&s=vic&snf=rbs&tm=1197902693
This was a 30 second search. Give me an hour and I'll turn up some beauties.
Now, I am the first to admit that these two joints aren't ideal. But they are affordable, and once you have a foot in the property door, the rest is easy.
You guys don't know what is going to happen in 2008. No-one does. Don't assume that the prices will go up forever. They might stop. We haven't had time for Lapdance Kev to weave his "magic" yet. But I'll tell you one thing; the prices in the long term will go up, so buy as soon as you can afford it, somewhere.
You can always move to where you want when you've got yourself established.
Just a quick sob-story for you to give you hope;
When I was 23, I spent 6 months in a hotel on Toorak rd in Sth Yarra. It was $12 per night, communal bathrooms, kitchen and home to the "down and out". It was funny; I was down and out, but never thought this; I used to look at the poor old boys in that hotel and feel sorry for them, yet I was in there with them. It's all attitude I guess.
I had to get a train from Sth Yarra to Oakleigh, then a bus down Warrigal rd to work. Approx 45-50 mins. 45 hours a week in the Proshop of a Golf Club. No car. Wage was $240 per week. I saved $75 per week. Some weeks $100.
Bought the first house 2 years later.
Now; 46, own multiple properties and nett worth over 1 mill. Didn't do anything spectacular unfortunately, and wasted about 5 or so working years "playing up" and buying doodads.
I wished I knew at 23 what I know now.
You've heard it all before.
Get out there and do it.