House buying and Mortgage rates
#1
House buying and Mortgage rates
Hi
We have just had our house valued and after a rough calculation of what equity we will take to oz after fees etc, we have a rough idea of what mortgage we will need in oz (based on worse case scenario figures).
I would be interested to hear from people who have mortgages in Australia as we have noted that the interest rates are higher than here by at least 1%.
Also any advice on costs when buying a home, we know about the first time buyer incentive ($7000 I think). Any advice on stamp duty prices, solicitors, survey fees etc would be much appreciated.
We are looking to live in the Brisbane area and are looking at homes round about the $300,000 mark.
We are starting to think we will be worse off than we thought, so any advice would be appreciated.
Many thanks
Pete and Heidi
We have just had our house valued and after a rough calculation of what equity we will take to oz after fees etc, we have a rough idea of what mortgage we will need in oz (based on worse case scenario figures).
I would be interested to hear from people who have mortgages in Australia as we have noted that the interest rates are higher than here by at least 1%.
Also any advice on costs when buying a home, we know about the first time buyer incentive ($7000 I think). Any advice on stamp duty prices, solicitors, survey fees etc would be much appreciated.
We are looking to live in the Brisbane area and are looking at homes round about the $300,000 mark.
We are starting to think we will be worse off than we thought, so any advice would be appreciated.
Many thanks
Pete and Heidi
#2
Re: House buying and Mortgage rates
We've only been here 3 months & just starting to look. Would say $300 would get you an ok 3 bed house. Around here we'd need to be spending $400 for a decent 4 bed,poss with a pool,or $450 for the type of house we'd imagained with a pool.
As always,depends on the area & how close you are to the city,anything within 10km seems to bump the price up.
Domains website have a mortgage calculator,think for $250,000 repayments
were about $1900 a month if that helps.
As always,depends on the area & how close you are to the city,anything within 10km seems to bump the price up.
Domains website have a mortgage calculator,think for $250,000 repayments
were about $1900 a month if that helps.
#3
BE Enthusiast
Joined: Jan 2005
Location: Bunbury, WA
Posts: 541
Re: House buying and Mortgage rates
Originally Posted by woogle
We've only been here 3 months & just starting to look. Would say $300 would get you an ok 3 bed house. Around here we'd need to be spending $400 for a decent 4 bed,poss with a pool,or $450 for the type of house we'd imagained with a pool.
As always,depends on the area & how close you are to the city,anything within 10km seems to bump the price up.
Domains website have a mortgage calculator,think for $250,000 repayments
were about $1900 a month if that helps.
As always,depends on the area & how close you are to the city,anything within 10km seems to bump the price up.
Domains website have a mortgage calculator,think for $250,000 repayments
were about $1900 a month if that helps.
could you tell me how to find the domains website so I can fiddle with the calculator. We think we have just sold our house and am trying t figure out how much a smaller mortgage would cost.
Thanks
Debs
#4
Re: House buying and Mortgage rates
Originally Posted by woody1cruiser
Hi
could you tell me how to find the domains website so I can fiddle with the calculator. We think we have just sold our house and am trying t figure out how much a smaller mortgage would cost.
Thanks
Debs
could you tell me how to find the domains website so I can fiddle with the calculator. We think we have just sold our house and am trying t figure out how much a smaller mortgage would cost.
Thanks
Debs
#5
Re: House buying and Mortgage rates
Originally Posted by pete jackson
Hi
We have just had our house valued and after a rough calculation of what equity we will take to oz after fees etc, we have a rough idea of what mortgage we will need in oz (based on worse case scenario figures).
I would be interested to hear from people who have mortgages in Australia as we have noted that the interest rates are higher than here by at least 1%.
Also any advice on costs when buying a home, we know about the first time buyer incentive ($7000 I think). Any advice on stamp duty prices, solicitors, survey fees etc would be much appreciated.
We are looking to live in the Brisbane area and are looking at homes round about the $300,000 mark.
We are starting to think we will be worse off than we thought, so any advice would be appreciated.
Many thanks
Pete and Heidi
We have just had our house valued and after a rough calculation of what equity we will take to oz after fees etc, we have a rough idea of what mortgage we will need in oz (based on worse case scenario figures).
I would be interested to hear from people who have mortgages in Australia as we have noted that the interest rates are higher than here by at least 1%.
Also any advice on costs when buying a home, we know about the first time buyer incentive ($7000 I think). Any advice on stamp duty prices, solicitors, survey fees etc would be much appreciated.
We are looking to live in the Brisbane area and are looking at homes round about the $300,000 mark.
We are starting to think we will be worse off than we thought, so any advice would be appreciated.
Many thanks
Pete and Heidi
#6
Re: House buying and Mortgage rates
For mortgage costs and rates try www.infochoice.com.au . Lots of calculators and a mortgage search.
#7
Forum Regular
Joined: Dec 2005
Posts: 33
Re: House buying and Mortgage rates
Originally Posted by pete jackson
Also any advice on costs when buying a home, we know about the first time buyer incentive ($7000 I think).
#8
Re: House buying and Mortgage rates
Originally Posted by Tortuga
I don’t know if this incentive is available if you have previously owned a property overseas?
#9
Re: House buying and Mortgage rates
Originally Posted by Amazulu
It is. It only applies to property previously owned in Australia.
#10
BE Enthusiast
Joined: Jan 2005
Location: Bunbury, WA
Posts: 541
Re: House buying and Mortgage rates
Originally Posted by seasprite
And it has just increased to 10K...
Debs
#11
Re: House buying and Mortgage rates
[QUOTE=woody1cruiser]is this available on all visa's or only PR?
Ooooh, I don't know. I imagine if you are "allowed" to buy in Aus you would qualify though...anyone?
Ooooh, I don't know. I imagine if you are "allowed" to buy in Aus you would qualify though...anyone?
#12
Re: House buying and Mortgage rates
Originally Posted by seasprite
And it has just increased to 10K...
Mrs JTL
#14
Re: House buying and Mortgage rates
Originally Posted by pete jackson
Hi
We have just had our house valued and after a rough calculation of what equity we will take to oz after fees etc, we have a rough idea of what mortgage we will need in oz (based on worse case scenario figures).
I would be interested to hear from people who have mortgages in Australia as we have noted that the interest rates are higher than here by at least 1%.
Also any advice on costs when buying a home, we know about the first time buyer incentive ($7000 I think). Any advice on stamp duty prices, solicitors, survey fees etc would be much appreciated.
We are looking to live in the Brisbane area and are looking at homes round about the $300,000 mark.
We are starting to think we will be worse off than we thought, so any advice would be appreciated.
Many thanks
Pete and Heidi
We have just had our house valued and after a rough calculation of what equity we will take to oz after fees etc, we have a rough idea of what mortgage we will need in oz (based on worse case scenario figures).
I would be interested to hear from people who have mortgages in Australia as we have noted that the interest rates are higher than here by at least 1%.
Also any advice on costs when buying a home, we know about the first time buyer incentive ($7000 I think). Any advice on stamp duty prices, solicitors, survey fees etc would be much appreciated.
We are looking to live in the Brisbane area and are looking at homes round about the $300,000 mark.
We are starting to think we will be worse off than we thought, so any advice would be appreciated.
Many thanks
Pete and Heidi
You're probably limited to:
1. Somewhere a good distance away from the CBD (15km plus)
2. A renovator (might let you move slightly nearer!)
3. A unit or town house (if you want to go even closer)
#15
Re: House buying and Mortgage rates
Originally Posted by seasprite
oh.not so good for some then. My source is in NSW.