[VIC ] House and Land Finance questions

[Jesterarts]

The only thing different in Australia though Craig, is that our demand is still outstripping supply. That's a fair significant difference between Australia and the UK. While I agree we're definitely in times to be very very cautious, I don't think we'll see crashes the likes of the UK and the USA. Also from advice I have had.

Either way, if you're talking about buying something to live in long term then affordability should be the main concern. I just bought a new place to live in back in May and apart from that have no other real estate investments at the moment as I'm being cautious. Even if there was a brief (in real estate terms this can be years) period of negative equity, my live in place is a very long term investment.

Yep, that's the mentality we are going into this with. We're getting a place that is big enough to accomodate a family in when that time comes and are planning on living in it a while.

Thus why we decided to buy something a bit more expensive than we originally planned because our plans for how long we will be staying there have changed.