Things that make you sad.

[Booney]

Did you take out the $7000 per year to run a car?

[wenchbarwer]

There's currently one available 2 bedroom unit for sale in the greater Adelaide metro area for under $250K...

[The Bedge]

It really is about choices - I did build and own a house with my ex, but that was a lifetime ago (and before kids).. now I rent with my family, and we have 4 kids between us - buying a home is a long way off the realistic radar for us, but we don't live without by any means.

We are able to do things as a family or individuals, the kids play their sports or do their hobbies, they go to reasonable schools, never hungry or without decent clothing, have toys and technology etc. go on holidays or family trips.

Would I like to have my own house again? Yeah of course, but I'm more than happy with the lifestyle we have and being able to provide for my family in the meantime.

[Trader]

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.

[Booney]

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.....

[wenchbarwer]

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

https://www.realestate.com.au/buy/prope ... refinement

5 come up in a search criteria of less than $250K, and two bedrooms. Two are in that price range, and four of them are under offer

[wenchbarwer]

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.....

Reckon your loan serviceability would be enough to get you a second hand permapine dog kennel

[Trader]

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.

[amber_fluid]

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.

[Trader]

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

Good spot.

[wenchbarwer]

We are going deep into boomer maths now!

[Booney]

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?

[amber_fluid]

Give up the GT’s and fancy beers will help too.
I don’t know any youngster that goes without these days.

[Booney]

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.

$80 per week fuel - $4160
$700 rego
$600 service

$5460 with no insurance based on no repayments at all.

[Booney]

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.

[amber_fluid]

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?

That’ll buy plenty of 2 minute noodles and baked beans.
Don’t need pulled pork or smashed avo.

[Armchair expert]

All you boomers fault

Oh no a building with more than one level

reeeeeeeeeeeeeeeeeeeeeeuuuuuuuuuuuuuuuuuuuuu

[Booney]

[amber_fluid]

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.

And good on em’ but don’t complain about house prices in the interim.
I have 2 nephews in their late 20’s who fit this profile.

[Brodlach]

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.

Very well said.


Sorry Trader, but we think alike


It’s easier to blame someone else rather than looking in the mirror, that what society has become.