Financial Planning as a Single Woman

LLucy1 on 27/01/2019 - 00:33
Last edited 27/01/2019 - 00:34

I'm a 32 year old high school teacher living in Melbourne. Over the last few years, I've become increasingly concerned about my financial future as I have very little super (<20k) and virtually no assets to my name. I do currently have about 115k in a high interest savings account for a deposit on a house, but haven't bought anything as I fear buying in Melbourne is well beyond my meagre salary (72k). Only debt I have is HECS (40k).

The options I currently have:

  1. Try to increase my salary as much as I possibly can. I currently do tutoring which gives me a little bit extra (2-3k a year), but am also thinking of adding in some retail/hospitality work (lower pay, but more hours available).
  2. Choose a new career. Unfortunately most high income careers will require that I retrain, which I'm quite happy to do. I have just been offered a place in Deakin's bachelor of engineering. As its online, I will continue to work full-time whilst studying part-time. Given that I am getting a lot of credit, I can get it done in 4-5 years.
  3. Teach overseas somewheres that pays better than what I am currently getting. I have done a bit of research and it appears the Dubai pays rather well with the possibility of free accommodation.
  4. Move to the country. I have previously lived in the country and hated it, but it may be only hope of ever buying a house.

Any suggestions of what I should do?

Financial

Comments

  • [Deactivated] on 27/01/2019 - 01:27
    +12

    I don't think the engineering degree is a good choice. Online degrees aren't well respected, the duration is long and you would need to spend another long period building your industry experience, presuming you find employment.

    • Lucy1 on 27/01/2019 - 01:33

      Its an accredited engineering degree. You are registered to work as an engineer. (uni, or mode of study is irrelevant). I'm more concerned about the additional Hecs, but here's hoping I can get a scholarship

      • [Deactivated] on 27/01/2019 - 01:44
        -3

        I don't think you can use HECS for subsequent degrees.

        • Lucy1 on 27/01/2019 - 01:46
          +7

          You can as long as it doesn't exceed the cap
          "For 2019, the FEE-HELP limit is $104,440. If you plan to study medicine, dentistry or veterinary science, the FEE-HELP limit is $150,000. This does not mean you get that amount each year. The FEE-HELP limit is currently a lifetime limit"
          It will cost me 36k, but I am still well under the limit. Interest is indexed at CPI

      • ms_caz on 27/01/2019 - 15:50
        +4

        Sorry me again.

        You say that both the uni and the mode of study to receive your accredited degree is irrelevant.

        I'd think about this carefully. When it comes to employment, people's networks and contacts are at least as important as the actual qualification they have, along with any work experience, prac placements, internships, project based learning etc that they might undertake as part of their course of study.

        Although the qualification might be the same, graduates from different institutions or modes of study will almost certainly be perceived differently. Not to say one is better than another as such, but I do know from working with pre-service teachers that those from some institutions are certainly more workplace ready than those from others. I imagine that this would apply across other fields of study too.

        • Lucy1 on 27/01/2019 - 17:27

          We do the same work experience, prac placements, internships. Everything is the same, hence why being 'online' is not printed anywhere on your degree or your transcript.

          Besides my father is a senior engineer and he says he can easily get me a job at his company when I graduate. So in worst case, I could take him up on the offer.

          Also engineers work in finance, banking, construction, software design, data science. I thought of all the options available engineering offered me the best chance of getting a job (obviously there are no guarantees in life).

          • sakurashu on 29/01/2019 - 11:40
            +2

            @Lucy1: Went to join the site just to throw in my lot with these people, but then realised I already had an account from years ago!

            It isn't the same at all - the claim that the dozens of hours in practicals and tutorials in person is equivalent to online learning is audacious. While work experience and internships will be the same, both relationships and your actual consumption of the course content will be very different.

            I tutored for UQ in engineering and IT for three years at the tail end of my dual degrees, and any online content offered was vastly inferior in quality and usually allowed for easy ways to cheat around actually learning the content - which almost all students are guilty of taking advantage of.

            When you say "Everything is the same", have you really thought about the vast number of resources used in Engineering practicals for each discipline? (i.e. PCB printing, soldering equipment, oscilloscopes, microcontrollers, robotics equipment, vibrational dynamics setups)

            (I am an engineer, graduated a few years ago)

      • Rohangiga on 28/01/2019 - 14:15
        +2

        It may be accredited but that does not mean it will help you to get a job. A big part of engineering is being practical and physically doing things (ie a project where you have to build a robot or even simple stuff like spaghetti bridge). Although you could do it at home, it will never be as good as doing it in a group at university where you have a lot of access to really good facilities and just doing it in a group working with your peers and bouncing ideas off eachother is a big part of it. Not trying to be a negative just trying to help :) (I'm an engineer)

  • muppet on 27/01/2019 - 01:40

    What's the HECS debt terms and interest rate?

    • WhyAmICommenting on 27/01/2019 - 16:48
      +8

      Cheapest legit loan you’ll ever get. Money is best used elsewhere… (basically cpi is the cost of the loan).

  • Findo on 27/01/2019 - 03:04
    +1

    Why not try move to an independent school and go for HAT accreditation? Or upskill and try find a head teacher position?

    • Lucy1 on 27/01/2019 - 03:34
      +1

      I considered that, but my pay still would not exceed 100k. Teaching is not a career for people who want to earn well (150k+). And because I've done high level maths/physics at uni, I know I'm capable earning much more in another field.

      • infinity03 on 27/01/2019 - 05:16

        Have you considered becoming an actuary? It will let you take advantage of maths skills and allow you to earn the income you desire. Although, I should add that it may take a couple of years after finishing the bachelors to gain the exemptions to become an actuary and get around the 150k mark.

        • Lucy1 on 27/01/2019 - 14:07

          I have thought about it, but it is only offered on campus so I would have to quit my job to study fulltime. With engineering, I can work and study at the same time as they offer it via distance so no loss of income. Also I've heard there are not many jobs for actuaries.

      • Findo on 27/01/2019 - 12:21
        +4

        Just out of curiosity, why did you go down the teaching path? It’s a waste of time and a waste of talent if you’re chasing a high income. There’s an old saying “those that can, do; those that can’t, teach” which sort of makes sense.

        • MarsTitan on 27/01/2019 - 15:05
          +2

          We need good teachers. The solution is to pay good teachers more inline with other professions.

          • Lucy1 on 27/01/2019 - 15:13
            +1

            @MarsTitan: Everyone know who are the bad teachers are as they are lazy and contribute nothing. But its virtually impossible to fire a permanent teacher. Not a great way to operate, but that's how it is in Australia

          • Findo on 27/01/2019 - 18:27

            @MarsTitan: I’ve heard so many people say teachers only work from 9-3, and that couldn’t be further from the truth. The only way for more pay is accreditation to weed out the bad teachers.

            • Lucy1 on 27/01/2019 - 19:12
              +1

              @Findo: It depends. I see people who seem to work 24/7. I also see people who skip out of doing work and put in the bare minimum. TBH why would you do more work if you are not going to get paid extra for it?

              • Findo on 27/01/2019 - 20:11
                +7

                @Lucy1: Err because there’s a shitload of work to do that needs to be done? My students rely on me to be prepared. Tell me lesson prep doesn’t take time pls.

                • Homr on 29/01/2019 - 12:43
                  -2

                  @Findo: lesson prep doesn’t take time

        • nomoneynoproblems on 27/01/2019 - 16:50

          Yep this. Not sure why you'd be a teacher if you're chasing $$$. The leave and entitlements are great though so at least you have that going for you.

          • Lucy1 on 27/01/2019 - 17:22

            @nomoneynoproblems: I made a mistake. Also my first career choice fell through.

            • Quantumcat on 27/01/2019 - 17:38

              @Lucy1: What was that?

              • Lucy1 on 27/01/2019 - 17:41

                @Quantumcat: I applied for Medicine. Got rejected. Thousands of people of applying for only a few positions.
                I should have had a better back up plan than teaching, but no point crying over spilt milk.

                • MarsTitan on 27/01/2019 - 18:29
                  +1

                  @Lucy1: Have you considered post grad medicine?

                  • Lucy1 on 27/01/2019 - 19:12

                    @MarsTitan: It was postgrad

                    • Coatesy on 28/01/2019 - 00:18

                      @Lucy1: I'm currently in a post grad medical program. There's plenty of students in their 30s. You definitely wouldn't be out of place if you tried again and got in :)

          • Findo on 27/01/2019 - 18:25
            +1

            @nomoneynoproblems: Leave and entitlements suck lol, annual leave gets eaten up by the holidays. Corporate and support jobs of the DoE often pay more than the actual teachers they support.

            • nomoneynoproblems on 27/01/2019 - 19:37
              +1

              @Findo: School holidays means you pretty much get free leave whilst still accruing annual. Show me a private sector job that does better. No denying that, I work in a private school and get paid better than most teachers there (albeit not by much).

              • Findo on 27/01/2019 - 20:09
                +1

                @nomoneynoproblems: That might be the case in VIC, but not in NSW. The four weeks of annual leave for teachers working in independent, Catholic and DoE schools gets eaten up by the holidays.

                • Fake News on 30/01/2019 - 16:44
                  +1

                  @Findo: @Findo it’s the same in VIC, teachers don’t get additional annual leave it’s the school holidays (which are often pupil free weeks, I’m still doing prep for the next term and marking)

        • Cyphar on 30/01/2019 - 10:56
          +4

          There’s an old saying “those that can, do; those that can’t, teach” which sort of makes sense.

          Anyone who says that is a fkn idiot.

          • Findo on 30/01/2019 - 11:44
            +3

            @Cyphar: Ok, I’m a fkn idiot

            • Kangal on 30/01/2019 - 20:59
              +1

              @Findo: The saying is true, but it isn't talking about Teachers.
              It's alluding to the fact that most people that do something, go ahead and do it. The others ramble their mouths and think they know everything and that there is an excuse for why they don't do it.

              You see this a lot with fat people losing weight. "Oh, I definitely want to, I want to improve my health, and I have the will-power to do so". Then they join the gym, go a couple times a year, and never think back. When prompted its always "the timing was bad, I was super busy, I have had too much stress lately, I have cramps, My stomach aches, I would lose weight but my genetics keeps forcing my weight back up, etc etc".

      • p1 ama on 28/01/2019 - 03:16
        +2

        And because I've done high level maths/physics at uni, I know I'm capable earning much more in another field.

        That's just a plainly arrogant thing to say. It's great that you did well in maths/physics at uni. It doesn't mean you're guaranteed a high income.

        By your own admission, you didn't get into med school because thousands of people applied for a handful of positions. There are thousands of maths graduates applying for a handful of well paying positions too.

        Maybe wait till after you're earning the salary you're speaking of before saying you're capable of doing so?

        • Lucy1 on 29/01/2019 - 18:24

          I only said that because ive heard there is a shortage of mathematics graduates in oz so it seems like it could be a valuable skills to have. Also it seems like it is a skill that it well compensated by some corporate sectors (correct me if i am wrong).

          • p1 ama on 29/01/2019 - 21:42
            +1

            @Lucy1: To be honest, I'm not terribly sure. I'm a mathematics graduate myself. I found that most of my colleagues in uni went on to do further education. I ended up doing a master's and PhD in economics, for instance. I had some friends who did other degrees like teaching, engineering, amongst others and of course, some went and did research degrees in maths.

            There are stories of maths graduates being picked up by hedge funds and being paid insane salaries, but I would say that it's more of an American trend than Australian. Even then, you'd really have to be a superstar. My friend who graduated top of his cohort with a WAM of 97 (no joke) was offered an almost $200k position as at a hedge fund, but he's out of this world good.

            I had several job offers when I finished my undegraduate degree, but nothing that you'd consider super well-paying. Most were analyst roles in the high 60's and low 70's. The best was around $90k at an investment bank, but how hard I'd have to work there is insane.

      • Samsungnote10 on 28/01/2019 - 03:44

        You may be capable, but reality is very different

        I was a master level yo yoer, i dont earn zillions

  • bazzato on 27/01/2019 - 05:15

    The potential for engineering is actually much higher than teaching. While I good senior engineer may get $150k+, it opens a lot of opportunities in a lot of different companies. This can then include move into management roles (whether engineering related or not). This is speaking from experience as I am an engineer who worked my way into management in my earlier 30s.

    The fact that you have saved 115k, shows you are good with your money. have you considered investing a small portion of that (say 10%) into starting your own business? find an area of interest, get help evaluating and give it a go?

  • pantsparty on 27/01/2019 - 06:41
    +9

    I agree with the other person who said read the Barefoot Investor as a starting point. Your savings and salary should be enough to buy a 1 bedroom apartment as a starting point I would have thought - or a house somewhere outside of Melbourne and Sydney which you can rent out as an investment property.

    Why is your super balance so low? Are you sure your employers have been paying your super correctly over the years?

    Any romance on the horizon? I ask because finding a partner can help (or hinder) your situation financially.

    • original15 on 27/01/2019 - 08:45
      +1

      Super balance low due to only short time working FT? My guess.

      • Lucy1 on 27/01/2019 - 14:12
        -1

        I haven't worked full time for very long. No relationship so I have to buy the house all by myself. I was thinking of potentially moving to a cheaper city (Brisbane?)

        • dcep on 27/01/2019 - 15:05
          +1

          A not-too-old landed house in a good Brisbane metro suburb goes from 600k+.

          You don't want to tie yourself down to a huge mortgage, giving yourself pressure.

          Brisbane is quiet at night so you'll feel isolated if buying into residential suburb.

          If you're comfortable in renting, I'd suggest a small studio/1-bedder in any CBD. Easier to commute and meet new friends.

        • MarsTitan on 27/01/2019 - 15:07

          try Adelaide.. a smaller version of Melbourne. Or what Melbourne used to be 30 years ago (population and real-estate wise)..

        • Homr on 29/01/2019 - 12:53
          -6

          Have you even put in any sort of effort to find love OP?

          Sounds like you think its someone elses fault that you're single rather yourself.

          How bout you put in an effort in finding a partner and hopefully get pregnant before your biological clock runs out. That way you won't have to travel this journey called life all by yourself.

  • wordplay on 27/01/2019 - 09:17
    +26

    no offense, but that 'meager' salary sounds good to me.

    • Eeples on 27/01/2019 - 18:11
      +22

      &no offense, but $115k in savings doesn't sound like 'virtually no assets' to me.

      • Jugganautx on 27/01/2019 - 21:08
        +14

        Just another subtle brag thread…

        just had to put gender in the title as well lol

        • Homr on 31/01/2019 - 12:50
          +1

          And also the single status

    • feebo on 27/01/2019 - 21:57
      +8

      As a student that lives off <22k a year I can't even imagine what it's like to have that sort of money. Let alone think it's a measly amount

      • Lucy1 on 29/01/2019 - 18:26
        -3

        Sorry it just seems measly when i read the median houshold income is 90k.

        • feebo on 30/01/2019 - 09:01

          If i'm being honest here it seems like you are comparing yourself with other incomes a lot.
          If you are earning enough to live comfortably and are still able to save so much, is it really worth attempting to start a new career. Just do what you enjoy most, I'm sure you'll get a lot more fulfillment that way

        • p1 ama on 30/01/2019 - 09:37

          Where are you getting that information? Median income is nowhere near 90k, it's closer to 60k.

          • [Deactivated] on 30/01/2019 - 12:57
            +1

            @p1 ama: Still seems high, but household vs single income. The median household has more than 1 person earning in it.

            • p1 ama on 30/01/2019 - 19:28

              @[Deactivated]: Yes, that's true. However, I think median single income is a much more appropriate measure for OP given that OP is single with no kids.

              • [Deactivated] on 30/01/2019 - 20:26

                @p1 ama: Right but OP said household income, and household income is a better indicator of how hard / easy you have it. A single person on $60k is going to be doing it way tougher than a couple on $90k all other things being equal.

          • Kangal on 30/01/2019 - 21:11

            @p1 ama: To the OP:

            (Citation needed, but its what I can remember reading)
            Median household income is ~$90k. Median income per person is ~$50k.
            Median family assets is ~$500k. Median assets per person is ~$200k.

            Since you are comparing yourself to married couples, it sounds like you need to marry a partner.
            Particularly one that is earning ~$20k per year, and has about ~$40k in assets…. then you will be in the 50% median household level. Does that sound attractive to you?
            Or do you prefer to be in the top 30% (?) of individuals?

            Not trying to be condescending, just trying to provide some realistic figures to help you gauge the waters.

        • Homr on 31/01/2019 - 12:28

          Keyword is "Household"

          Household also means a couple and it could be 2x$45K

          If you find a partner that earns just as much as you, your household income would be 2x72K = 144K which is $54K above the median.

      • Homr on 31/01/2019 - 12:51

        You'll end up spending it all and crying poor

  • Stimps on 27/01/2019 - 10:01
    +5

    Just don’t buy now. Melbourne property is down 8 percent in the last year and currently falling at 16 percent per annum annualised over the last 3 months.

    • ilikeradiohead on 28/01/2019 - 05:00
      +8

      Sick free houses in 6 years.

      • Other on 28/01/2019 - 16:19
        +1

        I'm going to use this for everyone who talks about falling housing prices!

        • Stimps on 28/01/2019 - 21:31
          +1

          Well prepare to get burned because that’s not how it works.

          • Other on 29/01/2019 - 10:51
            +1

            @Stimps: All we are seeing is the Chinese buyers disappearing (hay just like Canada, London, etc).

            High interest rates and mass unemployment lead to big issues. Interest rates are low and unemployment is not mass.

            Already people are buying again (locals).

  • Donaldhump on 27/01/2019 - 10:15
    +7

    Work in the country, cheap property, no competition for positions, no traffic, heaps of land.

    I’d be there in a heart beat

    • barbarella on 27/01/2019 - 11:57

      Yeah there are some great regional cities…find one that you love…one that has an airport, which is always a plus…how about coastal NSW? eg. Coffs Harbour. Live in a place where others pay to holiday :)

      • Lucy1 on 27/01/2019 - 14:27
        +1

        I considered moving to a regional city, but I have previously lived in two and hated it because of the isolation. Found it difficult to meet friends and it certainly was harder to find a partner. I'd still like to get married and have a family one day(if its possible).

        • dcep on 27/01/2019 - 14:39
          -8

          Don't mean to pressure you but your biological clock is ticking.

          • Lucy1 on 27/01/2019 - 14:42
            +4

            @dcep: I'm ok if it doesn't happen, but I would like to meet someone anyway. Don't particularly like the thought of being single forever.

            • Antikythera on 28/01/2019 - 14:49
              +1

              @Lucy1: will you have time for dating while working full time and studying engineering?
              then at 37 starting your engineering career will also probably involve long hours.

              the current housing market seems to require two salaries as the norm.

              look perhaps at an apartment rather than a landed house. something you can afford with your current income. you can always sell it or keep as an investment property if your future husband and you decide you need something bigger.

              • Other on 28/01/2019 - 16:20
                +4

                @Antikythera: the current housing market seems to require two salaries as the norm.

                does not seem - Requires.

                • [Deactivated] on 29/01/2019 - 13:08

                  @Other: Depends, plenty of apartments are quite doable on 1 salary (~$350k is no problem). That or you need to live further out from the CBD, which isn't so much of a problem if you can get work out of the CBD.

                  As for the bigger houses closer to the CBD, because you're in competition with buyers on 2 incomes, they naturally price out most people on 1 income. Even if you earn the same on 1 income as other people do on 2 incomes, you pay a heap of extra tax.

                  • Other on 29/01/2019 - 15:02

                    @[Deactivated]: Depends on your income level? 2x$50k incomes vs 1x$50k income. Big difference.

                    Also its just not repayments - its also how much can you save.

                    • Homr on 29/01/2019 - 15:05
                      +2

                      @Other: He meant 2x$50K vs 1x100K

                      The 2x$50K is better

                      • [Deactivated] on 30/01/2019 - 13:00
                        +1

                        @Homr: Yep, you pay $9,038 MORE in tax with 1x $100k income vs 2x $50k income. And that's before you take into account the fact that rent /electricity/utilities etc are barely (if at all) more expensive for 2 people than for 1.

        • minotaurian on 27/01/2019 - 18:06
          +2

          I live in regional town, use to live in a big city. And I seem to have the opposite problem….. Can't seem to hide my face…. Everyone wants to be a friend. There a lot of sense of community in small towns circa 50k to 100k population. If you feel isolated, find one with an airport or a short drive away from a big city like geelong, on long weekend you can have a holidays and on normal weekends you can join community groups…. There are a lot.. and mingle.

          And I agree with barbella, and coff Harbour is da best. It is a few hours drive from Sydney and gold Coast, but the relaxing lifestyle and also less worry about finance does translate to a better life. You end up settling with what you have and not chasing money for your whole life.

          • stanstho on 27/01/2019 - 23:38
            +3

            @minotaurian: Yep I agree. I grew up in Geelong and moved to a capital city and the thing that I like the most is the ability to disappear into the crowd. It sucks trying to date or make friends when everyone knows everyone and has nothing better to do than gossip.

            Also the general quietness is isolating. The city is lively and cheap to get around (thank you PT). Going out for drinks with friends in regional towns just isn't an option when you're all paying $30 each way for a cab in to the bar you're meeting at. Of course OP would have her full license at this point but it's still risky since I see drug busses every week in geelong and rarely see them in the city.4

            Regional towns wont ever measure up lifestyle wise for younger people until they can shake that suburban America style, car only, clique-y, white picket fence culture.

  • Samsungnote10 on 27/01/2019 - 13:46
    +15

    Going to get flamed for this but…..
    What does being a single woman have to do with anything.
    Once you have kids obviously, the man vs woman vs kids debate becomes valid in terms of career

    But up until now youve followed the path and choices of the same man and woman in terms of opportunites

    Btw 115k saved is great

    I know pepple in the same age as you who wouldnt have $500 to their name

    • dcep on 27/01/2019 - 14:46
      -4

      Going to get flamed for this but…..
      32yo Single woman looking to have family has everything got to do with future planning due to their prime time/age.

      • peterpaoliello on 27/01/2019 - 16:56
        +10

        Sex of the OP does not change the answer to the question is their point, so why mention it?

        • [Deactivated] on 27/01/2019 - 22:17
          -1

          She wants attention

          • Lucy1 on 29/01/2019 - 18:30
            -3

            @[Deactivated]: Im applying for engineering which has different outcomes for women due tto quotas and affirmative action policies. Gender makes a massive difference in this field

            • sakurashu on 30/01/2019 - 14:52

              @Lucy1: Don't know why she's getting negged for this comment - it's an unfortunate truth for initial hires as many companies want to look good by hiring equally rather than at the same split of genders that graduates actually are

              • TerryJustTerry on 31/01/2019 - 09:07
                +1

                @sakurashu: Getting negged because, gendered criteria vs merit criteria is generally frowned upon.

    • Jaysful on 29/01/2019 - 12:55
      +1

      That extra bit of info did come in handy in this thread. Few comments above where someone suggested OP to work in Dubai. OP being a female may have a drastically diff experience to a male in that scenario.

  • LakeVostok on 27/01/2019 - 14:29

    Lucy, i have found the wisdom of Scott Pape life-changing when it came to taking control of my finances. I would highly recommend his book - the barefoot investor Only Money Guide u will ever need! U could even boorow it from a library or listen to it on Audible by taking up the first month free Audible memerbership!

    • Lucy1 on 27/01/2019 - 14:30

      Thanks I will have a look into it. I've read Dave Ramsey and his advice is to basically find a higher paying job, which is what I'm trying to do.

      • Ghost47 on 27/01/2019 - 19:42
        +1

        That's surprising. I watch his videos on YT regularly and he recommends budgeting often. You gotta live within your means first.

        • tryagain on 27/01/2019 - 22:13
          +2

          115K in savings, sounds like she is.

          • Ghost47 on 28/01/2019 - 13:42
            +2

            @tryagain: Yeah when I said "you gotta live within your means first" I meant in a general sense and not targeted towards her specifically.

            • Kangal on 30/01/2019 - 21:16
              -1

              @Ghost47: But you replied directly to her :P

              • Ghost47 on 30/01/2019 - 22:00
                +1

                @Kangal: Yes but I was more echoing what his advice was, not trying to tell her to do that.

  • brokeman on 27/01/2019 - 15:43
    +1

    I'm kinda a lot younger than you so I'm not sure I'm qualified to give good advice but I definitely agree with the people above invest, invest and invest!

    For your house purchase, consider purchasing within your budget or making compromises?
    In doing so, I think you wouldn't have to move/find a job overseas, you can continue your current job and also look for a better higher paying one in the meantime?

    1) Just curious but where are you looking in Melbourne that median house prices are ~1 mil? south east and east/north-east areas?

    2) Are you only considering purchasing a house? Would you consider a townhouse, unit or even an apartment?
    (The latter three are cheaper alternatives that you can most probably afford in most areas)
    I recently saw a house sold (3 bedrooms) close to where I purchased a property for only $585k, one major drawback is that there's no major transportation nearby (only buses) so the best thing is that you have a car so you can drive. (27km from cbd)

    3) How far out from the CBD is considered decent for you? What factors would make an ideal suburb for you?

    • Lucy1 on 27/01/2019 - 17:36

      It was published on news.com.au. I'm sure it varies widely, but I can't even buy a house half that. I'd be open to a townhouse, but purchasing an apartment sounds like a hassle (and seems to be risky as their value is prone to flucturate).
      An ideal suburb would be close to my work. At this stage, I haven't found my career so buying a house is a fair way off.

      • Samsungnote10 on 27/01/2019 - 18:27
        +2

        Are you buying an investment or ppor.
        If its ppor the investment side of it shouldnt matter.

        You seem to be fixated on 1m+houses.

        Sure the market is dropping or has dropped, but these 1m properties will never ever be 500k again

        • Lucy1 on 27/01/2019 - 19:14
          -1

          Just ppor. Im competiting against 2 income families for property. Even 500k is something i'll never be able to afford

          • Samsungnote10 on 27/01/2019 - 19:29
            +1

            @Lucy1: If its for ppor, you should be focusing more on what you want rather than buying something that might be a better investmet but is going to suck as a ppor

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