<blockquote rel="psychoboy"><blockquote rel="JCsantos">http://www.homeloanexperts.com.au/lenders-mortgage-insurance/lmi-premium-rates/
LMI calculator</blockquote>
Thank you @JCsantos...
Hindi pala ganun din kalakihan ang LMI - akala ko aabot sa halaga na equivalent to a brandnew car... 🙂
</blockquote>
Depende din.. The l.m.i can still amount to a car🙂 like yung ozzie colleague ko at work.. 5% lng downpayment nila yan sabi nya sa l.m.i nila parang 2nd hand s.u.v na daw sana.
But mind you, the ozzies rent for long periods of time in nice places even as a family kaya mahirap mag save. May mga kasama ako sa work 2 kids na but renting in bondi..malapit sa beach.. Average rent there us 800-1000 per week kaya. Kahit 2 incomes sila... But on average incomes lang mahirap pa din mag save if ganyan per week.
@nadine: mas magaling mag ipon ang pinoy kaysa ozzie. Ang mga pinoy will opt to rent longer in affordable units or flat with others but save more para maka ipon ng malaking downpayment.
Yung bro-in-law ni ate started same salary range mu nadine pero yung rent nya for 5-6 yrs or so very insignificant.. Like flatting rental rate. In 5 yrs. plus increasing salary hanggang nag cap sa 300k annually sya but living like nasa 50k annually lng.. Kuripot eh.
Almost 50% downpayment sa 700k house... Then he got married and wife also had a job.. House paid off in. 3 years. Debt free in 3 yrs is amazing🙂
Mahirap mag ipon if you are paying rent na malaki din.. Imagine yung rent namin per week is more expensive than my ate's weekly repayment sa mortgage nila but 21% downpayment sila sa 500k house nila..single income sila as of now but 6 yrs worth of savings yun ni hubby as a teacher.
Pero saying that yung savings naman ni hubby na sulit na din nya..he has travelled extensively while he was single but he did not pay rent in all those years kasi he lived with his parents.
It depends on lifestyle how good one can save... Kung anu ang priorities. If single, on average income of 65-75K i think it will take 5-6 years to come up with 20% downpayment factor in leisure also. Pero if nasa 100k salary range nadine..i think it can be cut in half to come up with 20% pero dapat din mindful spending.. Like opt for flatting rather than getting a place of your own.
Rent is killer talaga in au. Grabeh mahal ng rental dito. Kumakain talaga ng huge percentage of the take home pay.