In your own imagination, what do you consider the average mortgage?

[kimmi]

according to the different websites, the average mortgage (not property value) is 'about' $380000. Its amazing to see on some boards what people perceptions are. As I mentioned earlier, there are so many people out there saying 800k+ 1million+

[LuluHB]

Ooooooh. I was pretty close. Do I win my mortgage getting paid off?????? ;-)

[kimmi]

Ooooooh. I was pretty close. Do I win my mortgage getting paid off?????? ;-)

Sure thing.... The cheque is in the mail

[kimmi]

So on top of the mortgage you have other costs. Deposit (10% minimum for most) more than 20% if you want to start thinking about avoiding Lenders Mortgage insurance...

I know when we sold our investment unit to be able to buy our first 'home' together, the fees to sell and buy alone (including deposit) exceeded 50k... My mind is spinning. I wish money was free Then I'd have so much more bahaha

[Astrid]

We are about 1.5 times our combined income (well now since I am working). I would not even want consider a mortgage of 3 times our income, might be doable once I no longer have childcare fees. I only classify us as semi-comfortable at the moment.

[LuluHB]

Woohoo. Thanks Kimmi. You're a star. Might just wander down the drive and wait for the mail man . . .

[kimmi]

Woohoo. Thanks Kimmi. You're a star. Might just wander down the drive and wait for the mail man . . .

I should be there any day now............................ Just, if you plan on waiting by the mailbox, take a jumper, and maybe an umbrella

[MrsFabuloso]

In Sydney, I would say at least $5-600 000. At least!
Where we live now, in the nsw outback it's about I'd say it's about $250 000, which is alot considering how remote we are, but we're a mining town, so I guess people have money, and it's too far away from everything not to live here!

[kimmi]

Speaking of mines and mining towns, I work in one. Moranbah QLD, and you can't buy a house here for under $750000 (My home is in Brisbane, could never afford to buy here, and not sure I'd want to be so far away permanently). The average rent is $3000 per week and these are very modest, country town houses.

All the mining here has really thrown the balance out.

[MrsFabuloso]

It's ridiculous isn't it kimmi?! I say 250 000 but that's including houses out of town. In town, within about a 5-10min drive of everything houses are at least probably 400 000. For not that great houses! Luckily for us we are not going to be living here long term and will be moving in 2yrs with DH's job, but the prices of EVERYTHING out here, not just the houses is an absolute joke! Not all of us make stupid amounts of money!