aston man

where would $200k be in relation to a typical home loan in perth.what would be an average mortgage.

thank you............... aston..

Wendy

Don't really know what you mean

If your asking how much repaments would be, then I've just got $225k and our repayments are $405 a week.

aston man

sorry.what i meant was what would be an average loan?

would you consider your loan to be a large amount wendy?

thank you

clougherty family

It all depends what type of house you want and how much you earn. To get a nice house where we live (Kingsley) with 4 beds and 2 baths you are looking at anywhere from $450k-$650k. $200k obviously doesn't cover that so it depends how much deposit you have. I don't know what your wages will be but I don't know many people who earn more than $1500 per week after tax, and that is quite a high wage, there's a lot who only earn $600-$800 per week. It's all relevant, the more you earn the bigger mortgage you can afford. It's the same as anywhere else.

Here's an example for you, a family I know have 3 kids, the husband has quite a good job and earns about $70k per year. Their mortgage is $350 per week and they do struggle to live a decent life on that wage.

Hope this helps, it's a bit hard to give you an information without facts on what house/job etc.

Jo

aston man

thank you for your reply,i dont want to sound like i am having a whinge.. would you have a look at this and let me know what you think..

we have two kids..

i am a brickie so i would expect to earn,,90k a year on average before tax?

the wife is going to get a job hopefully in the service industry,shop etc.
that would be part time so i dont have a clue what she would earn..

i am looking at houses up in the hills and i think that we will be looking at $550k,that would be my maximum..
if i can not buy in the hills i dont think that we will be going to perth...
i would be looking at a loan for $200k but we would have no other debt...

we have set our hearts on the hills,so at the moment it would seem that things may be a little tight..

i would be grateful of your comments..

thank you.

marcus

Phoenix

I'm gonna be in dem der hills next Sunday - Yippeee.

My sil bought her house up in the hills 4 years ago for less than 130k - last year it was worth 350k - eeek - house prices have shot up in the last few year - i wouldn't know what it's worth now - 4 bed - lovely location etc.

I'll have a look through the papers in the next couple of weeks and get back to you

clougherty family

Hi

My OH is also a brickie but to be honest he earnt more like $60k last year when you take off holidays over Christmas (everything shuts) and rained off days. We only have $75k mortgage and it's quite a struggle. We don't go out much but we do buy beer etc at home and also we smoke so that all adds up. Mind you, you know what it's like, whatever you've got you spend! I'm sure you will be fine on those figures but be realistic and don't bank on anything until you are here and get a proper idea of the cost of living - it's not cheap. I spend on average $250 per week on shopping then by the time you add the mortgage and bills on you're talking $500 per week before you even start to add on mobile phones/petrol/going out/clothes etc etc.

Hope this helps

Jo

Jo

mbike

Hi Marcus,

Here's a leftfield thought. Why not bank the 350k in an Oz high interest account (we're getting 6.8% at the moment). After tax you are likely to earn around 21k interest pa (assuming the money goes into your wife's account). This gives you $430 odd a week to spend. Rent somewhere like this: http://tinyurl.com/2g6ag2 to see how you like the hills and then buy if you're 100% (and hopefully when the prices have calmed down a bit). Doesn't cost you a cent in earnings and therefore gives your wife a chance to find a job she likes, too.

We do this in Shenton Park where we can live in a nice house we would never ordinarily be able to afford.

Cheers

Mark

clougherty family

Hi Mark,

Just wondered what account that is as it's a better rate than I'm getting with NAB.

JO

Amazulu

$200k is a fairly small loan by Aussie standards AM. On your expected salary you would have no problem servicing it. You should get something nice up here for about $550k, you just won't get a city view. Who needs it though.

nightnurse2

I agree with Mark, rent first, settle down and work out your budget, then buy if you think you can afford to.

aston man

thanks for the help chaps.

hey there,i am really grateful of your help..i have had the biggest wobble yet this weekend,i have come all this way and i have been offered a nice house here in the uk for peanuts,,i would have a 35k loan here for a great house ..so i am struggling at the moment..

having come this far,i the same as others do are more than likely having last minute jitters,hand on heart i am not looking for a sympathetic ear,i just dont want to move over there and be skint..as much as i want to live in perth..

this is the bottom line..which i think will swing me...either way

being a brickie i was hoping to earn,more like $2-3k a week direct to a builder.i dont mind grafting i have have done all my life so that is the kind of money i would expect on a price..

i dont think that is unreasonable from what i have been reading regarding brickies salaries,,but if i am dreaming please say as the dream may well turn to a nightmare...

thank you..

marcus

i am really grateful for your time,,,thank you

Sam

I dont think thats an unreasonable wage for a Brickie,

I know OHippy's ole man is a brickie working direct, don't quote me on it, but i think thats the sort of wage/take home hes on or in that reigon!
You may have to travel down to Mandurah side to get it, but hey ho, can't have everything!

Alan's on roughly $60K and we've got a $320K mortgage, we manage fairly well, we got out when we want, and go to resturants at least 2 times a month (fitting in with weekend working and kid commitments)

I don't work yet so all just on Al's money, both run vehicles, got 2 kids doing outside school clubs (which cost money) shopping approx $150 per week, (if you shop about)
We also live in the hills

Nizcac

Hi Sam,
Just wondering - do you work at all? That seems like a big mortgage($320K) for an average earn of $60K - I have been looking at 4xsalary like the UK. Can I just ask what the repayments are on $320K and for how long it is over. Is it a case of 'selling your soul to the devil' To but a decent property?

We would probably have $170k as a deposit for the house - OH is expecting to earn around $60K so I thought absolute max we would be allowed to borrow is $240K/25yrs.

I do underrstand if you do not wish to publicise your outgoings that much - Just needed to ask the question.

Thanks anyway - Niz

mbike

Hi,

It's the BankWest Telenet account.

Info here:

http://abetterdeal.com.au/?bwa

Mark