hi,
im 22 yrs old and my gf is also 22 we both earn 48k a year and have 25k saved up amongst us. Should we look to split our savings and get a property each or combine for one property?
any ideas?
cheers
Hard one to answer as it boils down to what you can actually service.
On $48K each you would probably max out your borrowing capacity at around $275 – $300K each assuming no other liabilities so might want to think about buying 1 each both qualify for the $14K (assuming no Defacto relationship) and then after complying with the FHOG and Stamp Duty requirements move into 1 and rent the other one out.
Careful loan planning needs to take place to maximise your deductions down the track but all in all should work well.
Richard Taylor | Australia's leading private lender
thanks for your help, we gota do some calculations i suppose but as a benchmark what kind of deposits r banks looking for these days??
You must be logged in to reply to this topic. If you don't have an account, you can register here.
