I'm 26, the gf 28 and we're looking to buy south east or bayside Melbourne (lower bayside, Mentone, Cheltenham or would love Murrumbeena, Hughesdale etc, not expensive parts), we've been saving for 12 months and have saved $55k for our deposit, looking to get to around $80k and buy a $380-$410k place.
We're not after anything too fancy, just a 2 bedroom unit that's within 40 minutes of work (I work in Camberwell she's in Brighton), we could buy now, but the difference between the interest per week on a $350k loan (expecting a couple more rate rises early this year will make it $450 per week) and a $280 per week equivalent rental property is a tough decision.
We're both living at home with our folks and desperate to move out, but trying to bide our time, the mrs won't rent, and i'm in finance so i'm wary of buying into a boom (judging by the rise in Melbourne over the last 6 months).
