to buy or not to buy that is the question

[Lulu]

But where would you settle for good? You move around a fair bit, would that cramp your style being tied to one place?

Either way, commit 10% of your income until you decide what to do, whilst you don't have rates etc save like you DO!

[misty]

OK first I have to admit an extreme bias towards buying - property is a passion of mine.

Now having said that, it really comes down to lifestyle decisions. Are you happy to sacrifice some of your current lifestyle for potiential future benefits. There is nothing wrong with renting. Also if you did buy, would you be intending on living there forever after - if not then you need to consider how it would go in a resale or as a rental.

Continuing to save until you decide what you want to do is always a good option. You can never have too much of a deposit, and remember that there will be other purchase costs as well.

Good luck with your decision.

[Phteven]

Rent is dead money but so is intrest and stamp duty.
If you're not planning on staying somewhere then I would say that it's pointless buying.
I agree with Lulu re putting 10% aside.

[New Dawn]

Thanks girls, your right lulu we do move a lot, but I kinda hoped that if we brought it would stop the ichy feet feeling I always get... Its really just the cost of places up here that is the killer, but from what I have seen on the net we could get HUGE amount of land and I am talking HUGE like 70+ acres, for $400,000+ and then I have seen houses with land and most the time alot less land than what we have seen for sale, with 3 bedroom house for about $700,000 + so if thats the case if we did buy land and put a house on it we could have the potenal to make a fair bit of money, but thats not the reason I want to buy, like I said I hope that if we brought it would make us sit still, and grow some much needed roots...

But for now we will sit still, save and hope for the best in the next 12mth... I have always believe if its meant to be it will be, so I guess if we get approval for a loan and we find the right place its meant to be...