This is the type of story I like to here. Nothing beats purchasing your own property within your personal budget...
Article from: The Australian AT auction after auction last year, Melbourne couple Louise Conley and Mark Hudson kept getting blown out of the water.
Then the property market cooled amid the global financial crisis and the young couple finally snared a four-bedroom weatherboard bungalow in the inner-west suburb of Yarraville for $384,000 in a private sale.
Having been in the market for almost a year before the Rudd Government introduced its temporary first-home buyer's grant last October, the $14,000 was more a windfall than an impetus to buy.
But they were more than happy it landed in their laps.
"The $14,000 plus another $3000 or so from the state Government basically meant we could go a little higher and still afford it," said Mr Hudson, a 32-year-old firefighter.
"Instead of looking at a $380,000 limit, we could go to $387,000."
The couple borrowed $320,000, with the grants and their savings providing the rest.
Mr Hudson said falling interest rates had made the repayments manageable.
"We have been renting for $280 a week, and when it's all worked out we won't be paying that much more than that on our mortgage," he said.
Whilst I am not familiar with the Victorian housing market it sounds as if this couple have now purchased their dream home, goodluck to them. Everyone has different circumstances but if your not planning on moving around why rent when you can own your own place???
