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Susie T.
Susie T.
Beaumont Hills, NSW

I am a first home buyer and would like to get some advice to buy a home. I have been in the same job for 4 years and earn $90,000 a year plus super. No loans and pay off credit card each month. I have inherited $120,000 and would like to know what price range I could look at, stamp duty costs and what do I have to buy to get the first home buyers grant. What rates and repayments are possible? Thank you

4 years ago


Hi Susie,

Very exciting times ahead! There are a few other questions to be asked before I can give you accurate numbers i.e. married/single? kids?

Would love to help you. Please feel free to give me a call at anytime and I can give you some options over the phone.

Zaid - 0401586901


Thanks Zaid - it is just me. Not married and no kids

Great! If you’d like to text me your email address I can send some more information and some options :)


Dear Susie

The first home buy is an emotional journey, but this is also a great time to start things on a good start. The most important thing is to look at your current budget and spending styles, and your mortgage repayment should ideally match your savings approximately, not exactly. If you think this is hard, then consider rentvesting, i.e. live where you are, and buy an investment property and you can then be able to still enjoy life, and having a maximum home loan limit is not a good idea in an environment where rates may rise in the upcoming years. Happy to chat and discuss in detail.




Thanks Madhu

Hi Susie,
As mentioned already, we can’t just make an assumption from the amount of information available so far. To maintain affordability over the long term, you should aim at about 30% of take home pay in repayments. That would allow you a loan of around $400,000. Buying for $500,000 with a 20% deposit plus costs would be relatively safe.
The savings that you have accumulated over the past 4 years would increase the purchase amount.
I would strongly recommend speaking with a financial adviser and/or an experienced broker who could guide you. Just be mindful, just because you “can” borrow more, doesn’t mean you should.
Happy to discuss further or answer any questions you may have


Thanks for taking the time Scott. Good information to consider

Hello Susie,
As someone who also lives in Beaumont Hills, I'll guess you are currently living with family, given rents in the area would be prohibitive for a single person.
If that is the case, do you need to move out of the family home?
Generally, single people are finding it tough to purchase a home in this Sydney market.
An alternate, is to be a rentvestor. This means purchasing a property with the view of renting it, whilst remaining in your current home.
This would allow you to increase your borrowing capacity.
If you prefer to move out of your current home, then I would concur that a borrowing amount of around $400k is sensible, i.e. based on repayments equalling 30% of income.
My office is in Baulkham Hills if you care to call to arrange an obligation free appointment.

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