thedons

Are there troubled times ahead even for Australia!!!
What with Greece, UK, Spain, Ireland, and the trouble in Thailand, Miners tax
Please your feed back is welcomed.

aglassofwinehelps

Yes.

I would as it would be my home for the next few years. If a massive crash happened then eventually, I assume, the valuation would correct itself.

I bought my first property and made a fortune in 8 months. I went on to buy my next house which decreased in value for a number of years, I eventually sold it for a mere £4k more than I had paid for it 8 years later.

My next property doubled in price within 4 years.

If you're buying to make a short term profit then maybe it's not such a good time given the speculation that property is about to tumble? But who knows?

thedons

Great reply looking long term but abit nervous i suppose

LouiseR

We're thinking of buying a house too and it is nerve wracking! I keep thinking that we're putting a large portion of our life savings down as a 25% deposit and then if the housing market crashes and house prices drop by say 25%, that's it then bye bye savings

But as Glassofwine says it is a long term investment we're not buying to make a quick buck, it'd be nice , but we're in it to get a family home and if the housing market drops we still have our family home and then we live in hope that the prices go up so we can a buy a bigger family home which inevitably will happen.

aglassofwinehelps

If I was looking long term, it was a property I loved, if it suited the family's needs for a few years then I wouldn't hesitate.

Market speculation will never go away and you can only do what is right for you at that time. Hindsight is a wonderful thing x

Rossi

Why don't people buy a "home" instead of a house ??

Profit is irrelavant if you intend living there

Japonica

Er, yeah. Our payments are going to be lower than what we pay right now renting. And why keep paying someone else's mortgage?

Broad Shoulders

why are you putting so much down as a deposit? I really think that many of Brisbane's outer suburbs have some way to go before they hit a ceiling. At the end of the day if you are buying so that your family has a home for life then what does it matter if the arse falls out of the market. If you have no intention on selling then it will not affect you in the slightest. If you're in it to make a quick buck, then you are always taking a risk no matter what the market conditions or country you are in.

NedKelly

It's cheaper to rent.

Japonica

It depends. Not for us, it's more expensive to rent than what our mortgage payment and taxes will be...and our current landlord is putting the rent up in a few months' time. All the other rentals on this block have gone up $10-20 pw...so just waiting for our notice to arrive...

renth

No way would I buy a house now. I'd wait 'till after the crash. You'd be crazy not to.

NedKelly

I doubt that very much but I am happy to be proved otherwise.

Japonica

You can doubt it all you want. Why is it so hard to believe? We used the money from the sale of our previous property back in Canada so that our mortgage and taxes will work out to less than what we currently pay in rent. It's not that unrealistic really...

Taking into account mortgage, taxes and water rates, when we move into our own house, we'll be paying $363 a month less than we are now in rent (using current interest rates as our calculation base, obviously when rates rise, that makes for a smaller amount). When our rent goes up $50 per week after our lease expires next year, we'd be paying $563 a month less with our own mortgage. Maybe it's just us, but we'd rather be paying less. Others may want to rent and pay more money...everyone's different.

Suni&Jay

I think Mel, & Syd MAY have the Bubble burst later this year, but Brisbane has only just started going up so not a bad time to by in Bribane IMO. Gold Coast is way behind and price's are still dropping.

Suni&Jay

There are many things to take into account, it's not that Black and White. IMO renting is dead money.