help...basic 4 bed property perth area
Feb 15th 2006, 5:57 pm
#1
Arrived Perth June 2006
Thread Starter
Joined: Mar 2005
Location: Currambine, NOR, Perth.
Posts: 834
help...basic 4 bed property perth area
Hi all, looking at real estate agents at the mo and its giving me a headache!!! can anyone tell me if we just want to buy a basic house to start....4 beds...how much is the average cost and how much deposit would we need??? any help much appreciated just to give us an idea......also is if fairly easy to get a mortgage within the first year or am i dreaming?? thanks everyone....i know it can varie alot but happy in an average area x 
Feb 15th 2006, 11:22 pm
#2
(It's not my real name)
Joined: Sep 2002
Location: Ilukapool. WA
Posts: 12,467
Re: help...basic 4 bed property perth area
Originally Posted by Dawn
Hi all, looking at real estate agents at the mo and its giving me a headache!!! can anyone tell me if we just want to buy a basic house to start....4 beds...how much is the average cost and how much deposit would we need??? any help much appreciated just to give us an idea......also is if fairly easy to get a mortgage within the first year or am i dreaming?? thanks everyone....i know it can varie alot but happy in an average area x
Feb 15th 2006, 11:41 pm
#3
Go the BNE Roar
Joined: May 2003
Location: Northside
Posts: 1,590
Re: help...basic 4 bed property perth area
In QLD if you have a deposit of 20% or over you will not have to pay mortgage insurance which saves you a little money (dont know if that is the case in WA but worth checking out).
TT
TT
Originally Posted by Dawn
Hi all, looking at real estate agents at the mo and its giving me a headache!!! can anyone tell me if we just want to buy a basic house to start....4 beds...how much is the average cost and how much deposit would we need??? any help much appreciated just to give us an idea......also is if fairly easy to get a mortgage within the first year or am i dreaming?? thanks everyone....i know it can varie alot but happy in an average area x
Feb 16th 2006, 5:46 am
#4
Superfreak!!
Joined: Jan 2004
Location: Thornlie, Perth, W.A.
Posts: 1,177
Re: help...basic 4 bed property perth area
We just bought a 4 bed in Thornlie (nice suburb SOR) for $270000.
I`ve been working for less than 6 months.
We got an interest only loan from ANZ (through a broker I can recommend.... you should go through a broker as they can get you a better deal and bat in your corner) and will be paying $1400 a month. First 5 years you don`t pay much off the capital so interest only makes more sense it seems... especially if you want to play it a bit safer.
If you don`t have 20% deposit then the bank will charge you mortgage insurance. The mortgage insurance broker will then have the final say on whether you get the loan or not (not the bank). This is where our mortgage broker was invaluable... he pushed it through the insurers as we had 5% deposit and me working less than 6 months (which is normally the minimum).
Get a 4 bed as generally they`re not much more than a 3 bed, but will be much easier to sell in the future.
Maddington was cheaper with 4 beds around the $240k - $250k mark.
Get your own settlement agent when you do find a house, not the one the estate agents recommend (they may be working for the sellers and also the esate agent get`s a kickback). I can recommend Synergy Settlements... www.synergysett.com.au .
Make sure any pool or spa IS FENCED before you sign ANYTHING. If they give you any crap about it being `exempt due to it`s age`..... kick them in the nuts and tell them it would have to be put up before you signed anything or at least drop the price by $5k or whatever.
You may be eligible for the $7k first home owners grant, and by default a discount on the stamp duty. If you buy a house under $250k you won`t have to pay stamp duty.
If you see a house with a pool, factor in extra $`s a month to keep the damn thing clean (tablets, electricity, hassle, time).
AND DON`T TRUST ANY ESTATE AGENTS. THEY WORK FOR THE SELLER NOT YOU.
I`ve been working for less than 6 months.
We got an interest only loan from ANZ (through a broker I can recommend.... you should go through a broker as they can get you a better deal and bat in your corner) and will be paying $1400 a month. First 5 years you don`t pay much off the capital so interest only makes more sense it seems... especially if you want to play it a bit safer.
If you don`t have 20% deposit then the bank will charge you mortgage insurance. The mortgage insurance broker will then have the final say on whether you get the loan or not (not the bank). This is where our mortgage broker was invaluable... he pushed it through the insurers as we had 5% deposit and me working less than 6 months (which is normally the minimum).
Get a 4 bed as generally they`re not much more than a 3 bed, but will be much easier to sell in the future.
Maddington was cheaper with 4 beds around the $240k - $250k mark.
Get your own settlement agent when you do find a house, not the one the estate agents recommend (they may be working for the sellers and also the esate agent get`s a kickback). I can recommend Synergy Settlements... www.synergysett.com.au .
Make sure any pool or spa IS FENCED before you sign ANYTHING. If they give you any crap about it being `exempt due to it`s age`..... kick them in the nuts and tell them it would have to be put up before you signed anything or at least drop the price by $5k or whatever.
You may be eligible for the $7k first home owners grant, and by default a discount on the stamp duty. If you buy a house under $250k you won`t have to pay stamp duty.
If you see a house with a pool, factor in extra $`s a month to keep the damn thing clean (tablets, electricity, hassle, time).
AND DON`T TRUST ANY ESTATE AGENTS. THEY WORK FOR THE SELLER NOT YOU.
Feb 16th 2006, 12:01 pm
#5
Arrived Perth June 2006
Thread Starter
Joined: Mar 2005
Location: Currambine, NOR, Perth.
Posts: 834
Re: help...basic 4 bed property perth area
ahh thanks so much thats a big help, thanks for your time
Dawn x
Dawn x
Originally Posted by Stormz
We just bought a 4 bed in Thornlie (nice suburb SOR) for $270000.
I`ve been working for less than 6 months.
We got an interest only loan from ANZ (through a broker I can recommend.... you should go through a broker as they can get you a better deal and bat in your corner) and will be paying $1400 a month. First 5 years you don`t pay much off the capital so interest only makes more sense it seems... especially if you want to play it a bit safer.
If you don`t have 20% deposit then the bank will charge you mortgage insurance. The mortgage insurance broker will then have the final say on whether you get the loan or not (not the bank). This is where our mortgage broker was invaluable... he pushed it through the insurers as we had 5% deposit and me working less than 6 months (which is normally the minimum).
Get a 4 bed as generally they`re not much more than a 3 bed, but will be much easier to sell in the future.
Maddington was cheaper with 4 beds around the $240k - $250k mark.
Get your own settlement agent when you do find a house, not the one the estate agents recommend (they may be working for the sellers and also the esate agent get`s a kickback). I can recommend Synergy Settlements... www.synergysett.com.au .
Make sure any pool or spa IS FENCED before you sign ANYTHING. If they give you any crap about it being `exempt due to it`s age`..... kick them in the nuts and tell them it would have to be put up before you signed anything or at least drop the price by $5k or whatever.
You may be eligible for the $7k first home owners grant, and by default a discount on the stamp duty. If you buy a house under $250k you won`t have to pay stamp duty.
If you see a house with a pool, factor in extra $`s a month to keep the damn thing clean (tablets, electricity, hassle, time).
AND DON`T TRUST ANY ESTATE AGENTS. THEY WORK FOR THE SELLER NOT YOU.
I`ve been working for less than 6 months.
We got an interest only loan from ANZ (through a broker I can recommend.... you should go through a broker as they can get you a better deal and bat in your corner) and will be paying $1400 a month. First 5 years you don`t pay much off the capital so interest only makes more sense it seems... especially if you want to play it a bit safer.
If you don`t have 20% deposit then the bank will charge you mortgage insurance. The mortgage insurance broker will then have the final say on whether you get the loan or not (not the bank). This is where our mortgage broker was invaluable... he pushed it through the insurers as we had 5% deposit and me working less than 6 months (which is normally the minimum).
Get a 4 bed as generally they`re not much more than a 3 bed, but will be much easier to sell in the future.
Maddington was cheaper with 4 beds around the $240k - $250k mark.
Get your own settlement agent when you do find a house, not the one the estate agents recommend (they may be working for the sellers and also the esate agent get`s a kickback). I can recommend Synergy Settlements... www.synergysett.com.au .
Make sure any pool or spa IS FENCED before you sign ANYTHING. If they give you any crap about it being `exempt due to it`s age`..... kick them in the nuts and tell them it would have to be put up before you signed anything or at least drop the price by $5k or whatever.
You may be eligible for the $7k first home owners grant, and by default a discount on the stamp duty. If you buy a house under $250k you won`t have to pay stamp duty.
If you see a house with a pool, factor in extra $`s a month to keep the damn thing clean (tablets, electricity, hassle, time).
AND DON`T TRUST ANY ESTATE AGENTS. THEY WORK FOR THE SELLER NOT YOU.
