Congrats mate, it's the best feeling. It's a lot more hard work and sacrifice than people are willing to acknowledge. It's a long haul, you don't save up for it in a year, and you forego a lot but in the end it's totally worth it. Go outside, feel the grass between your toes and say 'this is mine'. If you don't have grass, point at the nearest power outlet and say the same thing.
100%. I just bought my own place but with a partner.
I grew up in the country and had to move away at 18 to work and study. Had no financial help from my parents whatsoever, ever. Working through my diploma and bach then working full time while studying a masters full time and paying rent and expenses in a city was absolutely killer. I've just bought at 29 but probably would have had another 200-300k in savings if I could have lived with parental support in an area with jobs and/or a university.
Edit to add: Partner put in half for deposit but doesn't have PR so mortgage is only in my name. Another income for a loan would have been very helpful also.
Haha Dianella! :) Yes, building might be cheaper but honestly after you buy the land and stamp duty (not to mention the mortgage on the loan as you wait like up to a year and more to get it built), it's honestly the same as buying an established home now IMO
Yeh building can take a long time and ends up costing like 30% more than original.
If you don't mind me asking, what did realestate.com value the property the day before you paid 700k? Wana judge how quickly the market is moving, agents saying auto val isn't very useful right now
Yeah, the estimated value on those sites aren't the most reliable. I think it was estimated about 645k. I settled on 675k so just a little under 700k after all the fees.
Congrats on the house OP, How does one save 350k by 27 by just working weekends? Even if mum and dad pay for everything that is pretty unusual even for a full time worker.
Sounds like OP worked a lot, didn't have living expenses (paid for by parents), didn't ever do anything or buy anything to treat themself, and didn't ever travel anywhere to experience anything. Sacrifices were made. Hopefully OP can start living now they've bought a house or after they finish their phd.
Hey there, thank you for your congratulations :) I wasn't just working weekends, I worked weekdays too. I did hospitality as a teenager and then transitioned to private tutoring and then teaching at uni and consulting. Didn't need to follow the award rates unlike a lot of regular jobs (teaching at uni and private tutoring pays very well).
Yeh, I think there's a bit more to it than skipping a holiday to end up with 350k in 7 years only working part time...unless the part time work earns ~ 50k net at an absolute minimum and all other costs are covered by the parents...
I say 8-9 (not 7) years because I started off with hospitality work on weekends but then I transitioned to a lot of private tutoring, teaching at uni, paid research and consulting work. A lot of these jobs don't pay award rates. :) I worked a lot. All my work combined was closed to FT. I worked between lectures and after classes. I'm not bothered if people doubt me :)
Good on ya for grinding like that through uni. Full respect for the sacrifice. I went the opposite and travelled for 5 years and came back with barely enough to buy a car haha. Now a few years of fifo and being stingy asf to save fast aswell hopefully get enough for a deposit by 30 still
Sorry but i'm having trouble believing someone could save 350k just from working weekends?Are you a stripper?
Thats around 40-50k a year. Medium fulltime workers take home pay is barely more then that.
Even if you were able to earn that much, did you not spend a dime during that time?
The answer in these sorts of stories as usual would be wealthy parents.
No one else could possibly save 350k in that time frame only working weekends, that's hilarious
I know so many people like this, claim they worked for their deposit when in actuality their parents just gave them 200k for it, I donāt care about that, itās just the audacity to act like they āworkedā for it.
If they're doing their PhD they're probably marking, doing prac demonstrations, and tutorials. You get paid pretty well for it.
It's a huge amount of money, but if they're frugal it's at least doable.
The other option which Iād like to see more Australians take is to go work somewhere with lower to no tax for a bit. Youād be surprised how much you save and how much you learn about the world
They've answered that they worked full time too, including hospo since being a teenager and then offering private tuition at nights. Just part time during studies.
Congratulations!
Question for you and other buyers.
I'm in the market looking too
Was your purchase subject to an inspection report etc.?
This is my biggest fear.
I feel like my offers aren't being looked at because I want to make sure I'm not buying something with serious problems that will need a shitload of money and time to fix.
If it makes you feel better my partner and I bought our first home two months ago subject to inspection (and finance) and ended up getting the place. We didn't want any surprises. But it was also a relatively new build so maybe they didn't have any concerns there.
Thank you mate! Lol it was not subject to an inspection report and tbh it's probably smarter to have that included but I had your same fear and felt like it was a factor in some cases.
If you are subject to finance you are effectively subject to B&P, the banks won't lend against a property that could have major structural defects or termites.
I just bought as well as a FHB. It's truly fucked out there. I knew someone selling who told me on the Monday it was up on the Friday just gone. Rang the agent who said no you can't see it it's already sold. Only reason I got a look in was because I knew the seller. I put my offer in and was originally rejected for another offer before hearing back 2 days later that the other offer fell through due to conditions and my offer was accepted.
So much has to go your way right now it feels nearly impossible. Glad I'm not looking now.
So glad to hear another Perth local got a place! So many eastern states investors buying up site unseen is just wrong. Every government states and federal really need to do something
Thank you, yeah no it's true those investors just end up jacking the rent up and charging us locals more rent that goes back into the pockets of those over east
Letās find agents and homeowner willing to prioritise wa residents and first home buyers, letās reach to our local representatives and put pressure on them to start regulating this better weāre all living on a giant camping site !
Post summary:
\- User shares their success in buying a house after a long period of searching, aiming to offer hope to others in similar situations.
\- Spent 6 months making offers on homes and attending numerous inspections, highlighting the competitive and challenging housing market in Perth.
\- Faced competition from both local and out-of-state buyers, with some properties receiving immediate cash offers.
\- Described the exhaustive process of constantly refreshing listings, making offers, and facing rejections.
\- Acknowledged their privilege of being in a position to buy and expressed understanding for those struggling in current times.
\- Shared personal background: a 27-year-old who saved $350k over 8-9 years through weekend work and living with supportive parents to minimize expenses.
\- Emphasized the importance of starting to save as early as possible, regardless of age.
\- Successfully purchased a home by being proactive, making a quick offer on a new listing, and securing the property before its first open house.
\- Conveyed the relief and satisfaction of exiting the stressful property search and moving on to the next life stage.
\- Encouraged perseverance in the face of the tough housing market, stressing the rewarding feeling of eventually finding a home.
Congrats! š
I appreciate that OP acknowledged his privilege in being able to stay with parents. Most of the time it is just assumed that everyone has this as an option.
It certainly wasn't for me, I left home and school at 16 due to abusive parent and it took years to qualify for Austudy to put myself through uni.
There are many Australians today in a far worse position than I was then, and life now is exponentially harder and more expensive.
Yes but there are more people in India than Australia's entire population that are in even worse positions. Point is, life is ultimately an individual journey, there will always be someone doing it easier or tougher than ourselves in wealth, health, upbringing, luck, love, whatever. Privallage has many many layers and its subjective. The millionaire dying of cancer may see the healthy homeless person as privileged. The key is to try and find some joy amongst the situation relative to you personally.
See, I find this position a cop-out.
It's a very popular position amongst my generation and older, and it has some basis in fact, because at the end of the day yes you do have to find the joy where you can in your personal situation regardless of what's going on in the world.
But if that's ALL you're doing - if all you're doing is "finding the good" in your own life while ignoring the real and pressing problems of things like massive inequality, the housing crisis, and the climate crisis - then you are in fact harming more than you are helping.
Why do I say that? Because that attitude, that you can't fix the big things so you give up and focus on the little things - is exactly what the corporations and billionaires of this world want you to believe.
They don't want you fighting the system, because if the people who the status quo isn't serving actually started protesting it would collapse.
They are *terrified* that we will figure out there are a lot more of us than there are of them. They are *terrified* they will lose their power and privileges even while crushing everyone else into the dirt.
Your apathy and defeatist attitude is not a solution. Yes, by all means look for the joy in life - *while you stand up against the fkery that is being inflicted on society and the planet by late stage capitalism.*
Otherwise a lot of people will need to explain to their children why they stood by and allowed this to happen.
Just gotta do best with cards you have. I got dealt a bad set and still did ok in the end. I was lucky to buy long time ago but I had one screwed up upbringing with a mum with mental illness and an alcoholic dad who would make lot of money and couldnāt (wouldnāt is more correct) even send me to the dentist when I had a visible cavity in front tooth at 15 š but he would happily spend 50k doing up house. (Told me if i brush it everyday it wonāt get any worse š) I proudly fixed tooth myself as an adult many years later.
Plenty of my friends got zero help from parents. I got kicked out at 18.
Got no inheritance nest egg when parents passed on as my dad spent it in retirement and sold his house to live on. (Donāt blame him - no super for people in that generation)
I still consider myself very lucky.
Itās a game of musical chairs and the amount of chairs keep reducing while more players enter the game. Not everyone can be winners in todays society some will have to lose.
But youāre right to say youāre very lucky.
Thank you man, I did sacrifice a lot actually. At times I have regrets but also I have a little nest egg now and feel more secure. A lot of these comments are very presumptuous on here hahaha but I don't need to explain myself (I'm sure if I did there would be further criticism).
Being as disciplined as you were I would tend to think even if you didnāt live with parents who would prob still have enough deposit to obtain loan (although maybe not the guaranteed income to get it just yet) any which way I think you would have done it eventually without the help of your parents.
Your folks must be proud .
My parents were monumental in helping me. I helped out where I could but Iāll be honest, I couldnāt have studied and worked as much as I did if my other needs werenāt taken care of. Iāll spend the rest of my life trying to pay them back in one way or another and I wonāt fully be able to.
Yea we bought where OP bought a few years ago and if we were buying now, weād be priced out or would need to downgrade quality-wise. The property market needs a fix ASAP. All the capital growth wonāt mean anything if my kids have to pay higher prices anyway.
This is fantastic! I am so happy for you! I'll pray for your home owner initiation - something breaking. Hopefully, it won't be a costly fix. God bless and GOOD š ON š YOU š
Congrats Coventry Village neighbour! Itās a great location and a melting pot so youāve picked a great spot. :) As someone who bought in the area a few years ago a lot more young people are buying in, which is shifting the demographic and in time the amenities. Hope your place brings you joy for years to come.
Congrats! šš„ You are in a terrific location too imo!š I'm so jealous, if you ever want to rent it out let me know lol. All the best you home owner you š
Stories like this are making me feel very lucky. Bought our house late 2022, probably spent about 2-3 weeks properly looking. We offered slightly over asking, accepted without any fuss.
We were fretting we overpaid - maybe we did, but if we'd faffed around who knows how long it might have taken.
Congratulations! It's definitely a struggle! When I was looking, I found a house in Bellevue that was valued at 320, put in an offer for 350 and it was accepted, had the real estate agent call me a day later and ask for 15k more. Told him I didn't have it, it was then relisted at 365 and they added on an extra 'bedroom' (it was a tiny sleep out, wouldn't have fit a bed in there).
I looked at a house in Swan view that was listed for 350, put the offer in and it wasn't accepted, people were so desperate that it ended up selling for 500. My brother looked at a house in Armadale which was listed for 400k, him and his partner were so desperate as they experienced what you did, they ended up offering 100k more and got it. I ended up looking more rurally and paid 310k for mine, it was the most expensive in our suburb.
It's hard but you should feel so proud of herself.
My god youāve been through the wringer too š yeah the highs and lows of each offer is taxing as hell not to mention time consuming. Well done in the end on securing your own abode :)
Congratulations!
Personally i think we should ban offers being taken through any means other than the buyer showing up in person, which will stop interstate and overseas investors just buying up property sight unseen.
I'm sure people will say I'm wrong, that we need investment but the truth is that if they don't buy the properties, someone here will.
Nice job saving $350k on your own and getting a place, regardless of how little your living expenses were. That is a lot of money to rack up in the space of \~9 years and while studying full time.
Hey mate, happy to share:
Iāve been a low income earner my whole life. Iām just very frugal and never had any expenses which Iāve acknowledged in my post.
I made about 20k in my first year of working in hospo and I was a teen. Worked weekends and holidays only. Earned very little at this stage.
Then in my second year of working I did a lot of private tutoring after school. That pays very well and I still had my hospo gig in the side. That plus the weekend rates I saved up to about 60k now. Took a lot of time at first developing my network of students to teach - spent a while creating worksheets and lesson plans etc.
This went on for a few years as I went through uni now. My savings kept growing throughout undergrad. I attended uni (because Notre Dame didnāt record their lectures, I donāt know what itās like now) for lessons and tutes and in between those times I tutored privately and stayed in my fast food gig for weekends. School holidays were amazing for me - work and gym, rinse, repeat.
Then I did Honours and took a step back. Very hard to work a lot during that time.
Took a year off afterwards for my mental health and worked an entire year FT and more. By now my savings were well past 100k. Keep in mind I didnāt have a relationship during all of this so it really was all study and work.
Because of my marks in undergrad and my positive relationship with my lecturers I was offered a lab demonstrating gig at uni. Gained their trust and slowly picked up a second unit to tutor for, a third, fourth, fifthā¦ over the years I tutored for about 8 units from memory. All my undergrad units. Marking in my spare time. Getting good reviews from students helped me expand those opportunities.
Then I started my PhD at UWA and got more teaching gigs there too. Over the years I developed more relationships. Led to paid research opportunities. I was working about 10-12 hours consistently a day now between my research and paid work, weekends as well. Burnt out a few times and it was bad.
Over the past two years I got a gig as an education consultant and that paid very well. Took a back seat on my PhD as a result but that bumped me into my 300k bracket for savings now.
I donāt like spending money on eating out or buying clothes. I used my parentās car or took public transport. Donāt have any memberships apart from the gym. TBH I only watch movies in my spare time. Even then itās very little now. I can ease up and spend a little more time with my girlfriend these days because I feel like I can provide for her better now.
Wowā¦ I knew it was not something I could do neither most I guessā¦ but it sounds like a great journey mate, an impressive one for one can do indeed..
Yeah I worked like a dog. Happy to explain to you because youāre nice about it. Wonāt bother responding to the snarky comments and explain myself to them. š
Wow mate congratulations! You should be proud. There are a lot of 27 year olds who are still years off achieving what you just did. You obviously worked extremely hard and sacrificed lot. But now look at you! It was worth it, you have security and something that will likely continue to gain equity for you over the years. Enjoy your new home.
My overall stress level dropped tremendously once I had secure housing and that was before the current crisis took hold.
Can't imagine what it's like now.
I started off working in restaurants as a teen and that was for a few years. Then I developed my own private tutoring network helping high school students for various subjects that I provided as a service after school - whilst working in fast food on the weekends. I taught ESL to migrant children during the holidays.
Then during uni I started lab demonstrating and was doing 20+ hours each week whilst studying and I did that for years. That paid really well. Did that whilst being a research assistant. Also had the opportunity to be an education consultant because of my previous experience and got to travel to different countries for work in educational reform.
More recently as Iāve been finishing my PhD Iāve been working in clinical trials.
Congrats mate! Don't underestimate what a huge achievement that is!
These interstate buyers - I'm so effing shitty that they get such a look in. In the next 5 years or so we will be looking to sell our house (bought in 2018). I know what a privilege it was to have bought pre-pandemic, so we have a lot of equity in our house and a small mortgage only 1x our income.
When it comes time to sell there's no fucking way I'm selling to interstate buyers.
It's not worth selling my soul for $10k, or $50k, or even $100k. When we bought our house I loved it so much I wrote a hand written letter to the owners telling them how wonderful it would be to raise a family there - and they chose us despite us only offering asking price, with another 4 offers on the table. They gave us our home - they didn't need to do that.
We've since started a family and renovated the house - it's a true family home and I absolutely love it. One day I would consider it an honour to sell our house to a young couple looking for a home for their future family. Give another young couple or family the chance that was given to us - pay it forward.
I'm sorry it's been such an ordeal for you, OP. I'm so glad you've found a place of your own. Best of luck!
Congratulations mate! Great to see a positive story.
Funny how some people feel the need to shit on someone's achievement based on some weird "they didn't have it hard enough so it doesnt count" perspective. Anyone would think that you having a win directly affects them negatively...
Thank you so much :) Yes, I know - I anticipated that there would be those type of comments. It's okay, I don't owe anyone an explanation hahaha - People don't know the things I've gone through and I don't presume to know anyone else's backstory more than what they allow me to know. :)
No I wasn't paying any rent living with parents :) I was working maybe between PT and FT hours. I did a lot of jobs, started off in hospitality in my teens working towards private tutoring and then teaching at uni and consulting. I used to never spend any money on clothes and never went out much (don't have the time to when you're just studying and working).
Yep: hospo, private tutoring, teaching at uni, research work, consulting work paired with few bills and no rent. Picking up any odd job I could. Didnāt have any relos (which are $$$ lol) nor socialised too heavily (no time lol). Acknowledging my parents as a major contributor to me being able to save this amount.
Must be earning pretty high.
Assuming you graduated uni at 20, worked 7 years and now you're 27, $350,000 savings divide by 7 years is $50,000 savings, after taxes and living expenses.
You must be earning $100,000+ a year?
Where are people getting 7 years from? Lol I broke it down a bit in some of the other comments but:
I had about 30-50k savings each year across 8-9 years. I saved about 95% of what I earned. I didnāt spend much on myself, didnāt eat out, didnāt have holidays, no bills, didnāt have a relationship - very little expenses. Worked a few jobs and a majority came from working a lot in the holidays.
So...you were working part time, somehow have spare time to study for a PhD and still end up with $30,000 to $50,000 savings a year?
I am working full time and don't even make $50,000 after tax.
Must be some high paying part time job.
Either way, I am happy for you.
Congrats man
I do believe Interstate buyers should pay 20% stamp duty and pay 10% house value into a state run construction fund. Especially as they don't even bother to fucking show up.
Want to avoid that? Come and live in WA for min 1 year to buy. Not allowed to rent for 2 years once bought, once renting and you're back living over east pay an extra 15% state tax on the rental gross income per year. Empty houses get charged tax at 10-15% of the house value per year.
Same for international buyers. PR holder not allowed to own more than 1 property and must live in state to prevent relatives owning property through them and must prove the source of funding, but otherwise same rights as a WA resident.
Fuck that.
All that just to own some dingy house in some boring shitty suburb.
The idea people should be spending most of their working lives just to buy a small plot of insanely overpriced land is the biggest con in modern society
Someone saving $350K by working weekends while at Uni is not a normal outcome. Not to mention its impossible to save what $45k a year working weekends, your entire story is hilariously nonsensical.
Hmm, itās almost like I didnāt just say weekends and also said I worked after school/uniā¦ not to mention that there are things called semester breaksā¦ āŗļø
And living costs are a fair whack, despite your efforts to downplay that. In other words, you're not the self-made battlefield success story you've made yourself out to be, and prove the point that in order to get into housing now, you need a bit of a financial leg up from mum and dad. Next time you tell a story, be a bit more honest about things.
I think OP was honest in that he acknowledged the privilege living expenses free has given him.
However even with that I think it's impressive to save $350k. I don't begrudge OP buying his house. I begrudge the property investors buying their tenth house.
You are absolutely correct in that housing in Australia is turning into a case of haves and have nots, where the "haves" are having their houses bought outright for them by parents, or handed a large deposit, or given a huge leg up like OP by not having any expenses for nearly a decade.
Very very fkg bleak for the have nots and those of us from dysfunctional or abusive families (I am one).
The question is: does Australia even care about the have nots these days? It really doesn't seem like it.
Congrats mate, it's the best feeling. It's a lot more hard work and sacrifice than people are willing to acknowledge. It's a long haul, you don't save up for it in a year, and you forego a lot but in the end it's totally worth it. Go outside, feel the grass between your toes and say 'this is mine'. If you don't have grass, point at the nearest power outlet and say the same thing.
Thanks a lot mate, I appreciate the sentiment a lot honestly bless you
Congrats on the purchase! Curious where about did you buy as well. N or S OR?
Thank you mate! NOR :)
Velkommen to the Nord
350k at 27 and you haven't even left Uni? Great for you, but anyone without a parental nest egg is fucked. Good luck Gen Z
100%. I just bought my own place but with a partner. I grew up in the country and had to move away at 18 to work and study. Had no financial help from my parents whatsoever, ever. Working through my diploma and bach then working full time while studying a masters full time and paying rent and expenses in a city was absolutely killer. I've just bought at 29 but probably would have had another 200-300k in savings if I could have lived with parental support in an area with jobs and/or a university. Edit to add: Partner put in half for deposit but doesn't have PR so mortgage is only in my name. Another income for a loan would have been very helpful also.
Yeah I'm still completing my PhD (last year though phew)
What hood did you end up in? 700k is a pretty good deal these days, even if it was 70k over asking..
Haha Dianella! :) Yes, building might be cheaper but honestly after you buy the land and stamp duty (not to mention the mortgage on the loan as you wait like up to a year and more to get it built), it's honestly the same as buying an established home now IMO
Yeh building can take a long time and ends up costing like 30% more than original. If you don't mind me asking, what did realestate.com value the property the day before you paid 700k? Wana judge how quickly the market is moving, agents saying auto val isn't very useful right now
Yeah, the estimated value on those sites aren't the most reliable. I think it was estimated about 645k. I settled on 675k so just a little under 700k after all the fees.
I would also find this interesting, as well as what the listed (if applicable) price guide was!
Price was listed at 600k then bidding just went up!
Good spot, Dianella is pretty undervalued I feel.
The poor man's Dalekeith. 10-12kms from the CBD. Large 700m2+ single home blocks. Invest now. Source: Lives in Dianella
Biased. But Dianella is actually a nice area, one of the lowest crime rates in Perth.
totally biased. crime rate fluctuates around the suburb. e.g. more around the Dianella next to Mirrabooka/Nollamara than the Dianella next to Yokine.
Something to note when you build you only pay stamp duty on the land not the house
Yah, 34 with partner and nowhere near that amount
Or without parents. Dead parents and no inheritance kinda of throws a spanner in the works on that one š
$350k at 27 is unusual, a complete anomaly and pure privilege š
He finally manage to buy a house. Wow. What a hero.
Even at $250/week (share house), that would still be $233k saved assuming rent is needed from 18 onwards. He's done exceptionally well.
Well done!! Sharing tips and experiences in this market absolutely matters. Interesting about the invisible buyers.
Thank you so much :) Yes, learnt a lot about the competition and tactics people get up to
Congrats mate thatās a huge effort! 350k?! Where abouts did you end up buying ?
Thank you so much!! NOR! Haha literally 5 minutes from Coventry Village in Morley, super convenient for me
5mins from Wang's Treasure House. You lucky dog š
Howdy neighbour!
Howdy! š¤
Hey you canāt come back and comment without answering everyoneās question. What type of weekend work earns a guy $350k?
Any kind? 2 shifts a week anywhere you could do that. Over 8-9 years he said he saved.
Congrats on the house OP, How does one save 350k by 27 by just working weekends? Even if mum and dad pay for everything that is pretty unusual even for a full time worker.
Sounds like OP worked a lot, didn't have living expenses (paid for by parents), didn't ever do anything or buy anything to treat themself, and didn't ever travel anywhere to experience anything. Sacrifices were made. Hopefully OP can start living now they've bought a house or after they finish their phd.
Hey there, thank you for your congratulations :) I wasn't just working weekends, I worked weekdays too. I did hospitality as a teenager and then transitioned to private tutoring and then teaching at uni and consulting. Didn't need to follow the award rates unlike a lot of regular jobs (teaching at uni and private tutoring pays very well).
Congrats on escaping from the predators. The more of us who make it into our own homes the less power they have.
Banks are the worst predators though.
Congratulations. I recently bought, I had to settle for going as far south as mandurah and offering 75k over asking price. But now it's mine.
"But now it's mine" is priceless isn't it? :) Yes I had to offer exactly 75k over the asking price for mine too lol
Good on you mate, saving that much by 27 takes a lot of discipline and sacrifice
It really does - did I turn down a holiday or two with friends that would've turned out to be amazing to save a dollar? Maybe š Haha, thank you
Yeh, I think there's a bit more to it than skipping a holiday to end up with 350k in 7 years only working part time...unless the part time work earns ~ 50k net at an absolute minimum and all other costs are covered by the parents...
I say 8-9 (not 7) years because I started off with hospitality work on weekends but then I transitioned to a lot of private tutoring, teaching at uni, paid research and consulting work. A lot of these jobs don't pay award rates. :) I worked a lot. All my work combined was closed to FT. I worked between lectures and after classes. I'm not bothered if people doubt me :)
Good on ya for grinding like that through uni. Full respect for the sacrifice. I went the opposite and travelled for 5 years and came back with barely enough to buy a car haha. Now a few years of fifo and being stingy asf to save fast aswell hopefully get enough for a deposit by 30 still
Sorry but i'm having trouble believing someone could save 350k just from working weekends?Are you a stripper? Thats around 40-50k a year. Medium fulltime workers take home pay is barely more then that. Even if you were able to earn that much, did you not spend a dime during that time?
The answer in these sorts of stories as usual would be wealthy parents. No one else could possibly save 350k in that time frame only working weekends, that's hilarious
I know so many people like this, claim they worked for their deposit when in actuality their parents just gave them 200k for it, I donāt care about that, itās just the audacity to act like they āworkedā for it.
If they're doing their PhD they're probably marking, doing prac demonstrations, and tutorials. You get paid pretty well for it. It's a huge amount of money, but if they're frugal it's at least doable.
I did that and more. Also worked a lot during semester breaks. :) That helped me immensely
The other option which Iād like to see more Australians take is to go work somewhere with lower to no tax for a bit. Youād be surprised how much you save and how much you learn about the world
He probably just mowed his parents lawn every Sunday and they paid him $700 each time. Whatās so hard to believe?
They've answered that they worked full time too, including hospo since being a teenager and then offering private tuition at nights. Just part time during studies.
Great perseverance and saving š
Thank you! :D
Congratulations! Question for you and other buyers. I'm in the market looking too Was your purchase subject to an inspection report etc.? This is my biggest fear. I feel like my offers aren't being looked at because I want to make sure I'm not buying something with serious problems that will need a shitload of money and time to fix.
If it makes you feel better my partner and I bought our first home two months ago subject to inspection (and finance) and ended up getting the place. We didn't want any surprises. But it was also a relatively new build so maybe they didn't have any concerns there.
Thank you mate! Lol it was not subject to an inspection report and tbh it's probably smarter to have that included but I had your same fear and felt like it was a factor in some cases.
If you are subject to finance you are effectively subject to B&P, the banks won't lend against a property that could have major structural defects or termites.
Pest and building inspection are still normal in Perth and should stay like this!
$350k deposit!?!?!?! Bet you wish you had bought two years ago when your deposit was only at $250k
Yeah that's alot. My deposit was 200k in 2015 and my folks helped me. It's kinda nuts what's going on
I just bought as well as a FHB. It's truly fucked out there. I knew someone selling who told me on the Monday it was up on the Friday just gone. Rang the agent who said no you can't see it it's already sold. Only reason I got a look in was because I knew the seller. I put my offer in and was originally rejected for another offer before hearing back 2 days later that the other offer fell through due to conditions and my offer was accepted. So much has to go your way right now it feels nearly impossible. Glad I'm not looking now.
So glad to hear another Perth local got a place! So many eastern states investors buying up site unseen is just wrong. Every government states and federal really need to do something
Not sure you can prevent Australians from buying in their own country
Thank you, yeah no it's true those investors just end up jacking the rent up and charging us locals more rent that goes back into the pockets of those over east
This is such a nice story! Thanks for sharing! The motivation is needed!
Thank you for your positivity :)
Nice. I was looking since October last year. It's a grind just to even get your offer looked at
It's a slog yeah, but legally they have to present your offer though
Join an auction.
Saving 30k to 40k a year for almost a decade. Wow. Well, you certainly earned it, especially while renting and study. Well done.
Thank you very much! :) Yeah, it's kind of aged me a bit :/
Letās find agents and homeowner willing to prioritise wa residents and first home buyers, letās reach to our local representatives and put pressure on them to start regulating this better weāre all living on a giant camping site !
Post summary: \- User shares their success in buying a house after a long period of searching, aiming to offer hope to others in similar situations. \- Spent 6 months making offers on homes and attending numerous inspections, highlighting the competitive and challenging housing market in Perth. \- Faced competition from both local and out-of-state buyers, with some properties receiving immediate cash offers. \- Described the exhaustive process of constantly refreshing listings, making offers, and facing rejections. \- Acknowledged their privilege of being in a position to buy and expressed understanding for those struggling in current times. \- Shared personal background: a 27-year-old who saved $350k over 8-9 years through weekend work and living with supportive parents to minimize expenses. \- Emphasized the importance of starting to save as early as possible, regardless of age. \- Successfully purchased a home by being proactive, making a quick offer on a new listing, and securing the property before its first open house. \- Conveyed the relief and satisfaction of exiting the stressful property search and moving on to the next life stage. \- Encouraged perseverance in the face of the tough housing market, stressing the rewarding feeling of eventually finding a home. Congrats! š
So start by getting yourself some supportive parents and a good home. If you come from a broken or unstable family youāre shit out of luck!
I appreciate that OP acknowledged his privilege in being able to stay with parents. Most of the time it is just assumed that everyone has this as an option. It certainly wasn't for me, I left home and school at 16 due to abusive parent and it took years to qualify for Austudy to put myself through uni. There are many Australians today in a far worse position than I was then, and life now is exponentially harder and more expensive.
Yes but there are more people in India than Australia's entire population that are in even worse positions. Point is, life is ultimately an individual journey, there will always be someone doing it easier or tougher than ourselves in wealth, health, upbringing, luck, love, whatever. Privallage has many many layers and its subjective. The millionaire dying of cancer may see the healthy homeless person as privileged. The key is to try and find some joy amongst the situation relative to you personally.
See, I find this position a cop-out. It's a very popular position amongst my generation and older, and it has some basis in fact, because at the end of the day yes you do have to find the joy where you can in your personal situation regardless of what's going on in the world. But if that's ALL you're doing - if all you're doing is "finding the good" in your own life while ignoring the real and pressing problems of things like massive inequality, the housing crisis, and the climate crisis - then you are in fact harming more than you are helping. Why do I say that? Because that attitude, that you can't fix the big things so you give up and focus on the little things - is exactly what the corporations and billionaires of this world want you to believe. They don't want you fighting the system, because if the people who the status quo isn't serving actually started protesting it would collapse. They are *terrified* that we will figure out there are a lot more of us than there are of them. They are *terrified* they will lose their power and privileges even while crushing everyone else into the dirt. Your apathy and defeatist attitude is not a solution. Yes, by all means look for the joy in life - *while you stand up against the fkery that is being inflicted on society and the planet by late stage capitalism.* Otherwise a lot of people will need to explain to their children why they stood by and allowed this to happen.
Just gotta do best with cards you have. I got dealt a bad set and still did ok in the end. I was lucky to buy long time ago but I had one screwed up upbringing with a mum with mental illness and an alcoholic dad who would make lot of money and couldnāt (wouldnāt is more correct) even send me to the dentist when I had a visible cavity in front tooth at 15 š but he would happily spend 50k doing up house. (Told me if i brush it everyday it wonāt get any worse š) I proudly fixed tooth myself as an adult many years later. Plenty of my friends got zero help from parents. I got kicked out at 18. Got no inheritance nest egg when parents passed on as my dad spent it in retirement and sold his house to live on. (Donāt blame him - no super for people in that generation) I still consider myself very lucky.
Itās a game of musical chairs and the amount of chairs keep reducing while more players enter the game. Not everyone can be winners in todays society some will have to lose. But youāre right to say youāre very lucky.
You just wrote PerthNows next article
HAHA, thanks mate sorry I'm a bit of a yapper
Bad bot
Congrats and well done! I guessed you were a PhD student by the long and detailed text and feel vindicated to see I was right ;)
Hahahaha thank you! :) Yes PhD students are... predictable (a bit) :P
Starting everthing with \begin{document}
As much as I'm happy you've got a place I really hope you didn't sacrifice your whole youth on saving for a house.
Thank you man, I did sacrifice a lot actually. At times I have regrets but also I have a little nest egg now and feel more secure. A lot of these comments are very presumptuous on here hahaha but I don't need to explain myself (I'm sure if I did there would be further criticism).
Congratulations on your new home š«¶š¼
Thank you very much āŗļø
Being as disciplined as you were I would tend to think even if you didnāt live with parents who would prob still have enough deposit to obtain loan (although maybe not the guaranteed income to get it just yet) any which way I think you would have done it eventually without the help of your parents. Your folks must be proud .
My parents were monumental in helping me. I helped out where I could but Iāll be honest, I couldnāt have studied and worked as much as I did if my other needs werenāt taken care of. Iāll spend the rest of my life trying to pay them back in one way or another and I wonāt fully be able to.
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Yea we bought where OP bought a few years ago and if we were buying now, weād be priced out or would need to downgrade quality-wise. The property market needs a fix ASAP. All the capital growth wonāt mean anything if my kids have to pay higher prices anyway.
Wow that's insane growth, what area roughly? I'm guessing southeast?
Congrats mate.
Thank you mate !
Congratulations. Youāve done well š
Thank you so much haha :)
Congrats on reaching what most of us won't. I hope it works out smoothly for you š
Thank you mate, I appreciate it :)
Nice work buddy.
Thank you man, appreciate it :)
well done but u not out of the rat race, til u pay that puppy off asap lol
Yeah very true in that sense mate hahaha
Congrats, that's an awesome achievement!
Thank you so much! :D
Congratulations! šššš
Thank you so much š¤©
This is fantastic! I am so happy for you! I'll pray for your home owner initiation - something breaking. Hopefully, it won't be a costly fix. God bless and GOOD š ON š YOU š
Congrats Coventry Village neighbour! Itās a great location and a melting pot so youāve picked a great spot. :) As someone who bought in the area a few years ago a lot more young people are buying in, which is shifting the demographic and in time the amenities. Hope your place brings you joy for years to come.
New charcoal chicken and rib place in Noranda isnt too bad
Yea love their charcoal chicken and roasted potatoes š¤¤
Thank you thank you! :) I love it here so thank you for your well wishes!
Congrats! šš„ You are in a terrific location too imo!š I'm so jealous, if you ever want to rent it out let me know lol. All the best you home owner you š
Hahahaha thank you very much :)
Stories like this are making me feel very lucky. Bought our house late 2022, probably spent about 2-3 weeks properly looking. We offered slightly over asking, accepted without any fuss. We were fretting we overpaid - maybe we did, but if we'd faffed around who knows how long it might have taken.
Congratulations š
Thank you ! āŗļø
Well done mate and be happy in your new homeĀ
Thank you man :)
Holy hell. Congrats! Iām 36yr and finally got our 1st. I might be late to the game but I got something. Best of luck and future to you
Hey a home at any age is security mate, well done to you too! :)
Congratulations! It's definitely a struggle! When I was looking, I found a house in Bellevue that was valued at 320, put in an offer for 350 and it was accepted, had the real estate agent call me a day later and ask for 15k more. Told him I didn't have it, it was then relisted at 365 and they added on an extra 'bedroom' (it was a tiny sleep out, wouldn't have fit a bed in there). I looked at a house in Swan view that was listed for 350, put the offer in and it wasn't accepted, people were so desperate that it ended up selling for 500. My brother looked at a house in Armadale which was listed for 400k, him and his partner were so desperate as they experienced what you did, they ended up offering 100k more and got it. I ended up looking more rurally and paid 310k for mine, it was the most expensive in our suburb. It's hard but you should feel so proud of herself.
My god youāve been through the wringer too š yeah the highs and lows of each offer is taxing as hell not to mention time consuming. Well done in the end on securing your own abode :)
Congrats! You done everything right. The more you miss out on the more experience you get, eventually you hit on a good one.
Thank you sm dude, thatās a very nice reminder :)
Well done, man! I'm in a similar situation trying to buy in Adelaide. Thanks for posting!
You got it buddy! Adelaide is poppinā off too
Congratulations! Personally i think we should ban offers being taken through any means other than the buyer showing up in person, which will stop interstate and overseas investors just buying up property sight unseen. I'm sure people will say I'm wrong, that we need investment but the truth is that if they don't buy the properties, someone here will.
Nice job saving $350k on your own and getting a place, regardless of how little your living expenses were. That is a lot of money to rack up in the space of \~9 years and while studying full time.
Thanks you man, I appreciate it a lot š
Congratsā¦It would be great if you can share your income vs saving journey and the challenges tbh!
Hey mate, happy to share: Iāve been a low income earner my whole life. Iām just very frugal and never had any expenses which Iāve acknowledged in my post. I made about 20k in my first year of working in hospo and I was a teen. Worked weekends and holidays only. Earned very little at this stage. Then in my second year of working I did a lot of private tutoring after school. That pays very well and I still had my hospo gig in the side. That plus the weekend rates I saved up to about 60k now. Took a lot of time at first developing my network of students to teach - spent a while creating worksheets and lesson plans etc. This went on for a few years as I went through uni now. My savings kept growing throughout undergrad. I attended uni (because Notre Dame didnāt record their lectures, I donāt know what itās like now) for lessons and tutes and in between those times I tutored privately and stayed in my fast food gig for weekends. School holidays were amazing for me - work and gym, rinse, repeat. Then I did Honours and took a step back. Very hard to work a lot during that time. Took a year off afterwards for my mental health and worked an entire year FT and more. By now my savings were well past 100k. Keep in mind I didnāt have a relationship during all of this so it really was all study and work. Because of my marks in undergrad and my positive relationship with my lecturers I was offered a lab demonstrating gig at uni. Gained their trust and slowly picked up a second unit to tutor for, a third, fourth, fifthā¦ over the years I tutored for about 8 units from memory. All my undergrad units. Marking in my spare time. Getting good reviews from students helped me expand those opportunities. Then I started my PhD at UWA and got more teaching gigs there too. Over the years I developed more relationships. Led to paid research opportunities. I was working about 10-12 hours consistently a day now between my research and paid work, weekends as well. Burnt out a few times and it was bad. Over the past two years I got a gig as an education consultant and that paid very well. Took a back seat on my PhD as a result but that bumped me into my 300k bracket for savings now. I donāt like spending money on eating out or buying clothes. I used my parentās car or took public transport. Donāt have any memberships apart from the gym. TBH I only watch movies in my spare time. Even then itās very little now. I can ease up and spend a little more time with my girlfriend these days because I feel like I can provide for her better now.
Wowā¦ I knew it was not something I could do neither most I guessā¦ but it sounds like a great journey mate, an impressive one for one can do indeed..
Yeah I worked like a dog. Happy to explain to you because youāre nice about it. Wonāt bother responding to the snarky comments and explain myself to them. š
Ohh thanks mate, I indeed asked with pure curiosity and meant wellā¦ I wish you the best with the rest of your journey.
Good job! I was homeless when I was your age! :)
Well done. It's so nice to read a good news story. You must be so relieved!
Thank you I totally am lol, I was starting to memorise all the streets of Perth from all my research lol
The first is most often the hardest and most challenging - so bloody well done!
Thank you! Yes hahaha :)
Wow mate congratulations! You should be proud. There are a lot of 27 year olds who are still years off achieving what you just did. You obviously worked extremely hard and sacrificed lot. But now look at you! It was worth it, you have security and something that will likely continue to gain equity for you over the years. Enjoy your new home.
Thank you so much man :) That feeling of security is indescribable honestly. Hopefully it adds a few years to my life span š
My overall stress level dropped tremendously once I had secure housing and that was before the current crisis took hold. Can't imagine what it's like now.
Step 1: Live with parents Step 2: Have parents willing to cover living costs Step 3: Humble brag on Reddit and espouse that grindset lifestyle.
Have parents you can tolerate living with till age 27
I did it until 29. It's kinda nuts what's going on out there
So...like...did you just come out of a starving African village? Would you have thought the same or different if this was written by Elon Musk's kid?
Even at $250/week (share house), that would still be $233k saved assuming rent is needed from 18 onwards. He's done exceptionally well.
I'm sure you would easily save 350k in the same situation right?
Curious what did you do for work?
I started off working in restaurants as a teen and that was for a few years. Then I developed my own private tutoring network helping high school students for various subjects that I provided as a service after school - whilst working in fast food on the weekends. I taught ESL to migrant children during the holidays. Then during uni I started lab demonstrating and was doing 20+ hours each week whilst studying and I did that for years. That paid really well. Did that whilst being a research assistant. Also had the opportunity to be an education consultant because of my previous experience and got to travel to different countries for work in educational reform. More recently as Iāve been finishing my PhD Iāve been working in clinical trials.
Very nice! Well done šš»
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Thank you, what a nice comment :)
Congrats mate! Don't underestimate what a huge achievement that is! These interstate buyers - I'm so effing shitty that they get such a look in. In the next 5 years or so we will be looking to sell our house (bought in 2018). I know what a privilege it was to have bought pre-pandemic, so we have a lot of equity in our house and a small mortgage only 1x our income. When it comes time to sell there's no fucking way I'm selling to interstate buyers. It's not worth selling my soul for $10k, or $50k, or even $100k. When we bought our house I loved it so much I wrote a hand written letter to the owners telling them how wonderful it would be to raise a family there - and they chose us despite us only offering asking price, with another 4 offers on the table. They gave us our home - they didn't need to do that. We've since started a family and renovated the house - it's a true family home and I absolutely love it. One day I would consider it an honour to sell our house to a young couple looking for a home for their future family. Give another young couple or family the chance that was given to us - pay it forward. I'm sorry it's been such an ordeal for you, OP. I'm so glad you've found a place of your own. Best of luck!
Wow thatās an amazing story. The letter is such a nice touch and genuine too I love it. Congratulations on your achievement and journey man :)
Congratulations mate! Great to see a positive story. Funny how some people feel the need to shit on someone's achievement based on some weird "they didn't have it hard enough so it doesnt count" perspective. Anyone would think that you having a win directly affects them negatively...
Thank you so much :) Yes, I know - I anticipated that there would be those type of comments. It's okay, I don't owe anyone an explanation hahaha - People don't know the things I've gone through and I don't presume to know anyone else's backstory more than what they allow me to know. :)
how did you save that much working part time?? good on ya though! Im guessing you weren't paying rent
No I wasn't paying any rent living with parents :) I was working maybe between PT and FT hours. I did a lot of jobs, started off in hospitality in my teens working towards private tutoring and then teaching at uni and consulting. I used to never spend any money on clothes and never went out much (don't have the time to when you're just studying and working).
i find it interesting you were able to save an average of 40k-50k a year, while also being in school.
Yep: hospo, private tutoring, teaching at uni, research work, consulting work paired with few bills and no rent. Picking up any odd job I could. Didnāt have any relos (which are $$$ lol) nor socialised too heavily (no time lol). Acknowledging my parents as a major contributor to me being able to save this amount.
why didnt you buy during covid when they have the $50k grants?
I actually donāt know what that is, maybe I was in a very busy stage of my studies
Must be earning pretty high. Assuming you graduated uni at 20, worked 7 years and now you're 27, $350,000 savings divide by 7 years is $50,000 savings, after taxes and living expenses. You must be earning $100,000+ a year?
Where are people getting 7 years from? Lol I broke it down a bit in some of the other comments but: I had about 30-50k savings each year across 8-9 years. I saved about 95% of what I earned. I didnāt spend much on myself, didnāt eat out, didnāt have holidays, no bills, didnāt have a relationship - very little expenses. Worked a few jobs and a majority came from working a lot in the holidays.
So...you were working part time, somehow have spare time to study for a PhD and still end up with $30,000 to $50,000 savings a year? I am working full time and don't even make $50,000 after tax. Must be some high paying part time job. Either way, I am happy for you.
Thank you mate - I just replied to another comment breaking this down more and what the high paying positions were. :)
wow you earn more than me and Iām 10000000000000000000000000000
Congrats man I do believe Interstate buyers should pay 20% stamp duty and pay 10% house value into a state run construction fund. Especially as they don't even bother to fucking show up. Want to avoid that? Come and live in WA for min 1 year to buy. Not allowed to rent for 2 years once bought, once renting and you're back living over east pay an extra 15% state tax on the rental gross income per year. Empty houses get charged tax at 10-15% of the house value per year. Same for international buyers. PR holder not allowed to own more than 1 property and must live in state to prevent relatives owning property through them and must prove the source of funding, but otherwise same rights as a WA resident.
Fuck that. All that just to own some dingy house in some boring shitty suburb. The idea people should be spending most of their working lives just to buy a small plot of insanely overpriced land is the biggest con in modern society
Haha not so dingy :) And not most of my working life either!
Someone saving $350K by working weekends while at Uni is not a normal outcome. Not to mention its impossible to save what $45k a year working weekends, your entire story is hilariously nonsensical.
Hmm, itās almost like I didnāt just say weekends and also said I worked after school/uniā¦ not to mention that there are things called semester breaksā¦ āŗļø
Theres a 19 year old soccer player that earns 900 mill a year and says itās little money your 19!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
And how much did mum and dad give you?
Everything. I owe my life and existence to them
60% of Australian home buyers get help from parents in some form, so OPās situation is the norm.
Living costs while he studied full time for several years. Nothing major /s
And living costs are a fair whack, despite your efforts to downplay that. In other words, you're not the self-made battlefield success story you've made yourself out to be, and prove the point that in order to get into housing now, you need a bit of a financial leg up from mum and dad. Next time you tell a story, be a bit more honest about things.
I think OP was honest in that he acknowledged the privilege living expenses free has given him. However even with that I think it's impressive to save $350k. I don't begrudge OP buying his house. I begrudge the property investors buying their tenth house. You are absolutely correct in that housing in Australia is turning into a case of haves and have nots, where the "haves" are having their houses bought outright for them by parents, or handed a large deposit, or given a huge leg up like OP by not having any expenses for nearly a decade. Very very fkg bleak for the have nots and those of us from dysfunctional or abusive families (I am one). The question is: does Australia even care about the have nots these days? It really doesn't seem like it.
He was pretty up-front about what help he got and what help didn't get....
Was this reply meant to be sent to me? I'm not OP mate, and the /s is for sarcasm.
Probably nothing, but might have gone guarantor to help with the loan
Doesn't need a guarantor when he saved 350k not paying rent his whole life
Haha luckily no need for them to be guarantors as I am working FT now
Jesus Christ OP, this country is half based on immigrants coming with nothing. How fucking ignorant are you about the economy of this city?
Keep bringing in illegal immigrants to push prices up for renters and buyersā¦ vote for clowns, get the same circus
> I'm 27M Wow, finally!!!!