I'm the worst at making decisions but sometimes I do try to break it down. Like, it seems clear you do need to leave the current house, so you can leave that out of the question and look at what the options are for what you can move to. Can you afford to rent the current house out, rather than selling it? I would have thought the rent would more than cover that mortgage. But I don't know what that would mean for your payments. Also you'd have to be careful of capital gains tax etc if you move out for too long
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Houses in those areas are hopelessly expensive too. Like, Edithvale is the most affordable and it's seriously only fifteen min on the train line closer. Those suburbs you mentioned are well into the 8-9 hundreds. How much was your place if you don't mind me asking?
:( I think I'm out of touch as I bought here before things went really nuts. I was going to say Bentleigh East but I think even that has rocketed (which I don't understand, I don't like it there at all. Not that I'm saying you should live in a yucky place. But it is close to decent schools, which is probably why everyone else is there too). Is even Moorabbin crazy? When I was looking I looked at a lot of places in Moorabbin as it was quite reasonable then. Hampton east was too (not hampton itself, it's on the other side of south road). But it has no train station and I never liked the feel of it so I think there's a reason it's cheaper. You would know better than me how things are currently though
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Yeah I think that if we both work full time we would earn maybe 100-120 between us to start. I think that would get us a 600k house. Does that sound right, haha is that how much you earn lol? That mortgage isn't much these days, I think maybe I can start looking at Springvale, it's not beautiful but I grew up there and I do love it. I wonder if I can still send Liam to the Glen Waverley primary schools though if we rented there first. With high school I think we'd go the non government route anyway so I'm not fussed about high schools as yet.
We are currently paying $2100 a month on a $397k mortgage locked in at 4.86% for 3 years... I'm sure, though, you have looked at mortgage repayment calculators etc and know how much you'd be up for.
If I were you, I'd probably do the renting thing first. If you end up totally hating the area at least you haven't bought there...
We rent in Glen Waverley! It's a really lovely area. Hamish goes to Mount View, which is just down the road, and it's an amazing school. Once you're in you're in, but it's pretty high demand, so I don't know that sibling preference would be enough to get Toby in too if you moved away? You'd have to call and ask I guess.
We pay.. $2325 per calendar month for a house big enough to fit four adults and three children. It's older, but huge and quite lovely, plus it doesn't matter if things break cos the joy of renting is someone else pays to fix it!
I hope Adam is right and the housing bubble does burst so we can afford to buy here, but I think our plan might be to buy something further out once the kids are older.
I have little to add, except to suggest maybe consider renting out the home you own and rent in the area you want to try out. That way if things don't go your way, you still have your one asset). BUT keep in mind that moving house these days is expensive in itself
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If I were you, I'd probably do the renting thing first. If you end up totally hating the area at least you haven't bought there...
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We pay.. $2325 per calendar month for a house big enough to fit four adults and three children. It's older, but huge and quite lovely, plus it doesn't matter if things break cos the joy of renting is someone else pays to fix it!
I hope Adam is right and the housing bubble does burst so we can afford to buy here, but I think our plan might be to buy something further out once the kids are older.
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Oh, as far as beach goes...we live in rosebud...very very affordable, but quite a far way away from the city!!
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