Thanks for your response Richard.I will weigh up these options, but it seems I should go and speak with a financial planner to figure out which option is best to proceed. Perhaps we are better off renting for an additional year (the year my wife is off work) and then applying for the home loan.

Thanks for the feedback guys. I will look into this when we have a large enough deposit saved.

I think we will definitely sit down and agree on an exit strategy, based on all the scenarios discussed above, plus more…

Great advice Terry, thanks.

Thanks Richard for your information. Another question. If we say want to borrow $600,000 between us 2 married couples, can we just borrow $600,000 and then halve the repayments on this figure? or would we be forced to take out 2 x $300,000 loans and thus make repayments on this figure? As I think the first option would mean lower repayments.

Thanks Terry. I understand now.

Joel, great vid mate, well done….Truly inspiring.

Thanks Colin. I love the idea of buying a bomb in a good location, but try telling my wife that with a baby on the way. I'm thinking long term gains, she's thinking "i want it all now!'. Define good location, 300k wont get you alot in Brisbane in a good location, unless you mean a fringe suburb tipped to boom. I do like the way you think though,…[Read more]

propertunity wrote:

rafael84 wrote:
..Just hope the prices and interest rates dont rise TOO much….

Hope is not a strategy. Buying cheaply, renovating to add value, refinancing to buy more is a strategy. There are many other strategies. Renting & saving is a strategy I suppose. It does not motivate me, I've got to say. How much have you…[Read more]

Thanks Colin

Thanks for the advice all. Seems I should sit on it for a year, do some more research, so i'm armed and ready when I go into battle in 12 months time…Just hope the prices and interest rates dont rise TOO much….