I was luck enough to buy a 3 bedroom house in Tas back in 2016 for $280,000. We have a home loan amount remaining around $200k, in 12 months, our repayments have gone from $1037 to $1478 a month. We are lucky that we can afford this still but with the price of everything else going up it’s starting to get tighter for sure.
I can’t imagine what it’s like for the people who bought a house when the prices were at their peak after being told that the rates won’t change, so they took out a $500k + loan just to get into the market.
Yeah we got lucky and found a place that was well below what people were paying in the current market. But yeah a lot of folks out there are feeling it at the moment cause you really had no other choice.
I was luck enough to buy a 3 bedroom house in Tas back in 2016 for $280,000. We have a home loan amount remaining around $200k, in 12 months, our repayments have gone from $1037 to $1478 a month. We are lucky that we can afford this still but with the price of everything else going up it’s starting to get tighter for sure. I can’t imagine what it’s like for the people who bought a house when the prices were at their peak after being told that the rates won’t change, so they took out a $500k + loan just to get into the market.
Yeah we got lucky and found a place that was well below what people were paying in the current market. But yeah a lot of folks out there are feeling it at the moment cause you really had no other choice.