Buying a House

[Crow-mosone]

it's a disgrace that some off the richest people in australia, and specifically melbourne and sydney are real estate agents, who haven't studied a day in their life, yet earn more than people with degrees.

why?

 

[coxon]

it's a disgrace that some off the richest people in australia, and specifically melbourne and sydney are real estate agents, who haven't studied a day in their life, yet earn more than people with degrees.

not really a disgrace... you or i may not like them very much, but i say good on them... take a look how many real estate agencies there are in a suburb...
then see the number of agents... part-time agents...

the few that make the real big bucks do work their asses off...

and no, i'm not an agent... just deal with them everyday...

 

[acker]

it's a disgrace that some off the richest people in australia, and specifically melbourne and sydney are real estate agents, who haven't studied a day in their life, yet earn more than people with degrees.

What ? degree's in something employer's are'nt looking for.

 

[arrowman]

it's a disgrace that some off the richest people in australia, and specifically melbourne and sydney are real estate agents, who haven't studied a day in their life, yet earn more than people with degrees.

They may not have a degree but they don't actually have no study / qualification requirements behind them at all, you know.

Shrug, there's a lot of agents out there earning very average incomes working nights and weekends. And when a good agent has sold your house at an outstanding price and has generally made the process very easy for you, and has been at your call 24/7, you'll think differently perhaps.

You should try it some time. I think I'm a pretty person (with a degree) and I don't think I could make a success of it.

 

[Deej]

I got no idea why that was even mentioned, earning capacity does not totally depend on one's scholastic education levels. Actually i reckon street smarts are just as important.

 

[Gets!]

Nous is more important than any degree.

 

[Z_K]

Nous is more important than any degree.

I would agree with that.

I am in a new job, and jumped into a position above many people my age or older who have a degree and many of them are satisfactory at their jobs, but lack alot of skills that will see them progress much further. I spent my year 12 drunk and stoned. Because of this stupidity, I did not get into the course I wanted and started work at 18.

I worked my arse off, played the game, learnt off the right people and I reckon I am in a better position than I would have been had a I spent 3 years at Uni.

 

[Guido]

Annoyed the missus a bit, but we will listen to those who know.

The most important piece of advice - nobody 'knows' anything. Experts on both sides can mount arguments to suggest that prices will increase, remain stable, crash - in the end the market will go in the direction it wants to go.

Keep hunting, if you find the perfect place for a good price, my advice would be to not put it off. If its value falls by 10% next year, it's still the perfect place.

Looking at the bigger picture (price over 20-30 years), 10% of today's price amounts to half of sweet FA anyway. Nobody who bought a house in Albert Park in the 60s for $13K instead of $12K is crying today. They are, however, probably dead. Best of luck.

 

[Magnum]

Mate, I would ask for unpaid leave from your job, and take $20k of that $55k, and blow it on a 3 month trip around Europe, starting in July at Pamplona in Spain for the Running of the Bulls Festival in July, then head through Paris, the South of France, Italian Riviera, Rome, Venice, Florence etc, Greek Islands, Swiss and Austrian Alps, Amsterdam, then finish off in Munich for Oktoberfest in late September, and chill out on a beach in Thailand for a week or 2 on the way home.

It will be the best thing you've ever done, and by the time you get home, house prices won't have changed, you'll just have a bit less cash put towards a deposit, but you'll have a heap of great memories to look back on when you eventually do get married and buy a house.

If you can manage to do that trip without your missus, I highly recommend that as well...

My advice. Jump in now, do the hard yards, and have a house you can afford paid off by the time you're 33 and THEN go on a 3 month holiday. Some of my mates spent all their dough travelling when they were early 20's and now they still cant afford a house. I didn't travel, but have a house paid off and enough in the bank to take a month holiday overseas with my wife every year. Sure they have great memories of their travels while I had to miss out, but for the next 10 years, they had the memories of living on struggle street, whereas now after doing the hard yards and sacrificing travel, I'll continue to have memories of my regular holidays.

Each to their own though. Good Luck!

 

[gPhonque]

I was lucky (and smart I guess) with my house.....bought it when i was 21 or 22.... (little semi-detached in Williamstown) ....now 6 years later and I've made about $150k on it (bought it for $205k) .....about to sell, spend some money on some musical gear I need, spend some money travelling (which I haven't done at all, other than all-around Australia and a quick Los Angeles trip) and then go rent a house whenb I get back in an area I actually want to live (Fitzroy) while the rest of my money sits in investment stuff. (which at the moment, is going to make me much more than I would make renting my place out)

It's so cheap to rent at the moment when compared to buying.... I can't justify paying off a mortgage at all anymore, although if you can buy the right place in the right area at the right time (as I was lucky/smart enough to do) then it can be a fantastic way to set yourself up.

I have no interest in sitting around tied down by a mortgage for another minute if I can help it. There's more to life than owning a ********ing house.

BUT, if you can make it work for you for a few years, then it's great! I wouldn't be able to do the things I'm about to do if I HADN'T been tied down for the past 6 years by a mortgage.....

But it all depends on what, where, and when you buy.

Apologies for stating the damn obvious...