by Booney » Tue Jan 16, 2024 3:47 pm
by wenchbarwer » Tue Jan 16, 2024 3:50 pm
by The Bedge » Tue Jan 16, 2024 3:55 pm
Dolphin Treasure wrote:Your an attention seeking embarsement..
by Trader » Tue Jan 16, 2024 3:55 pm
wenchbarwer wrote:There's currently one available 2 bedroom unit for sale in the greater Adelaide metro area for under $250K...
by Booney » Tue Jan 16, 2024 3:55 pm
Trader wrote:
After 3 years you have a $45k deposit.
Buy a unit for $250k, putting down $25k deposit, $20k closing costs and a $225k mortgage.
by wenchbarwer » Tue Jan 16, 2024 3:56 pm
Trader wrote:wenchbarwer wrote:There's currently one available 2 bedroom unit for sale in the greater Adelaide metro area for under $250K...
There's 2 in the CBD alone (199k and 225k), not that I looked overly hard.
by wenchbarwer » Tue Jan 16, 2024 3:58 pm
Booney wrote:Trader wrote:
After 3 years you have a $45k deposit.
Buy a unit for $250k, putting down $25k deposit, $20k closing costs and a $225k mortgage.
$350 week repayments = $18200
$7000 to run a car.
$25,000.
$2000 on modest phone plan.
$27,000.
$250 week food = $13,000
$40,000
Now, that $700 / qtr electricity bill.....
by Trader » Tue Jan 16, 2024 3:59 pm
Booney wrote:Trader wrote:
After 3 years you have a $45k deposit.
Buy a unit for $250k, putting down $25k deposit, $20k closing costs and a $225k mortgage.
$350 week repayments = $18200
$7000 to run a car.
$25,000.
$2000 on modest phone plan.
$27,000.
$250 week food = $13,000
$40,000
Now, that $700 / qtr electricity bill.....
by amber_fluid » Tue Jan 16, 2024 3:59 pm
Booney wrote:Did you take out the $7000 per year to run a car?
by Trader » Tue Jan 16, 2024 4:00 pm
wenchbarwer wrote:Trader wrote:wenchbarwer wrote:There's currently one available 2 bedroom unit for sale in the greater Adelaide metro area for under $250K...
There's 2 in the CBD alone (199k and 225k), not that I looked overly hard.
One under offer, look again
by wenchbarwer » Tue Jan 16, 2024 4:01 pm
by Booney » Tue Jan 16, 2024 4:01 pm
Trader wrote:Booney wrote:Trader wrote:
After 3 years you have a $45k deposit.
Buy a unit for $250k, putting down $25k deposit, $20k closing costs and a $225k mortgage.
$350 week repayments = $18200
$7000 to run a car.
$25,000.
$2000 on modest phone plan.
$27,000.
$250 week food = $13,000
$40,000
Now, that $700 / qtr electricity bill.....
$166/month for a phone?
Get a $50/month phone.
Spend $150 per week on food.
It adds up.
by amber_fluid » Tue Jan 16, 2024 4:01 pm
by Booney » Tue Jan 16, 2024 4:02 pm
amber_fluid wrote:Booney wrote:Did you take out the $7000 per year to run a car?
Drive a shit box that only requires having 3rd party insurance.
Won’t cost half that per year.
Catch a bus or walk when you can.
Dont need a flashy car either at that age.
by Booney » Tue Jan 16, 2024 4:03 pm
amber_fluid wrote:Give up the GT’s and fancy beers will help too.
I don’t know any youngster that goes without these days.
by amber_fluid » Tue Jan 16, 2024 4:03 pm
Booney wrote:Trader wrote:Booney wrote:Trader wrote:
After 3 years you have a $45k deposit.
Buy a unit for $250k, putting down $25k deposit, $20k closing costs and a $225k mortgage.
$350 week repayments = $18200
$7000 to run a car.
$25,000.
$2000 on modest phone plan.
$27,000.
$250 week food = $13,000
$40,000
Now, that $700 / qtr electricity bill.....
$166/month for a phone?
Get a $50/month phone.
Spend $150 per week on food.
It adds up.
Sorry, phone was $40 month not per week.
$150 on food, when did you last shop?
by Armchair expert » Tue Jan 16, 2024 4:03 pm
by Booney » Tue Jan 16, 2024 4:03 pm
by amber_fluid » Tue Jan 16, 2024 4:05 pm
Booney wrote:amber_fluid wrote:Give up the GT’s and fancy beers will help too.
I don’t know any youngster that goes without these days.
Living their lives, entitled brats.
by Brodlach » Tue Jan 16, 2024 4:21 pm
Trader wrote:I think this thread is covering the topic very well.
Mental health issues, soft youth coming through, and poor expectation setting.
Heck, the discussion about housing being tough is creating the excuse for the kids already, and the comparisons to median house prices, or even median unit prices is compounding that poor expectation.
Nothing wrong with living a modest lifestyle for a few years then entering the market in the 25th percentile, not the 50th.
Apparently the average hourly wage for a labourer in Australia is $33.06.
Lets round that down to $30.
Work a 40 hour week, as an 18 year old kid out of high school, 50 weeks a year = $60k
If your still at home with mum and dad, bills are bugger all, you might be paying nominal board, but essentially you can save a large wack of your salary. You aren't paying a mortgage, or rent, you aren't paying school fees for kids, etc. 18 year olds should easily be saving 25% of their wage, IMO.
After 3 years you have a $45k deposit.
Buy a unit for $250k, putting down $25k deposit, $20k closing costs and a $225k mortgage.
Sure its not the most glamorous place, but you can do it. It's a starter. Get your foot in the market and after 3 more years, upgrade if you want, or don't, its up to you.
And if you want something better, wait a few more years, why do you need to buy at 21? Wait til you're 25 and you now have over $100k saved.
But lets say you push ahead at 21, Now if you want, put a mate in the second bedroom, get $125 a week off him, that helps.
Instead of going out both Friday and Saturday nights each weekend, go out one, and babysit the other, not only do you save cash, you also put $150 cash in your pocket.
Just those two things alone put you nearly $20k up at the end of the year.
Life is about choices.
Growth is about initial sacrifice.
Delayed gratification doesn't really exist these days.
But I get accepting that truth is difficult for some, and its easier to just blame the government and/or boomers.
Brodlach wrote:Rory Laird might end up the best IMO, he is an absolute jet. He has been in great form at the Bloods
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