(no subject)

[rain_and_snow]

Five year plan? Apparently they can be a good idea.
Spend three years finishing uni. Get a job. Earn around 40k/year for two years. Buy a house in the sixth year. Smalls perhaps late sixth year, maybe earlier. Consider a semester in Canada or France next year, probably first semester to allow for placements in Melbourne. Ace the final year of the degree to earn Honours.
I think that covers everything tangible.

Comments

[ultrapeach.livejournal.com]

Can one buy a house when earning that much? o.o

[rain-and-snow.livejournal.com]

I think after two years I'd have enough for a deposit at 600k. I'm hopeful that with Honors I'll actually be able to earn more like $45k/year.
So, I think so. But I haven't spoken to banks or anything about it.

[ultrapeach.livejournal.com]

I think banks have some sort of calculatory thing for... something to do with house-buying.
My mum tried it and found she couldn't get a house though. =|

[rain-and-snow.livejournal.com]

600,000 on 60,000 deposit, 30 year term, repayments of $3,241.05 = 38,892.6/year. That's how I was working it out, from the Commonwealth Bank calculator on the domain.com listings. I was calculating for this place : http://www.domain.com.au/Property/For-Sale/House/VIC/Richmond/?adid=2008204841 And making the 600k assumption because they usually sell higher than quoted.

Doesn't leave room for living in the meantime much, but there would be no rent, just food, internet and bills. Oh. Clothes, too. Yeah, it would be more than a stretch. But I've got five years to work on it.