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Can or should I think about buying a house considering I am the only wage earner?

Realestate Advice!

Q. “Can or should I think about buying a house considering I am the only wage earner?”

A. You’re the only wage earner and you are going to buy a house!!!! What an achievement!!!! Of course you can! Speak to a Mortgage Broker and get them to run the sums on your borrowing power. (Call Darren Utz from Smartline 0407 642 484 I highly recommend!)

Things to budget for:

  • Repayments; fixed interest or variable …. At the moment interest rates are low, so fixing isn’t a bad option and will give you certainty in terms of the repayments

  • Rates / Water; find out now by calling council what the rates/taxes are for properties in the areas your looking at, work out what that cost is on a weekly basis and add it to your budget. A lot of homeowners don’t budget for this and become unstuck

  • Repairs / Maintenance; Remember if something goes wrong on the house you have to fix it… the main thing that ‘could’ go wrong and mean you MUST replace is Hot Water… $1500 a pop… so have a kitty in case

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