Experience in Buying a House

TTam

@TasBurrfoot sir question po ulit. Sorry ikaw po ang lagi ko tinatanong, tanong ko lang po if how much ang interest rate (i know that it varies depending sa credit rating pero ano po yung average?) May naresearch po ako na 5% daw but not sure about it. And kailangan po ba na 2 years ka na employed? If i-avail yung 5% dp and LMI? Thanks po!!

* Interest rate varies depende kung san ka nag loan.
If basesis is this website: http://www.infochoice.com.au/home-loans.aspx
- as low as 4.545 interest rate

Bkit kailangan mo ng average? look for the lowest and features of loan that fits your needs/requirements.

* Not ncessary na 2 yrs working experience... If you can provide a huge deposit and show a regular monthly savings is enough to convince them that you are capable of paying your mortgage.
Cguro sinasabi na 2 yrs since by 2 yrs dapat medyo stable ka na in australia at alam mo na kung ano expenses mo at magkano kaya mo loan at bayaran. Kung one year kasi syempre hindi mo pa ma picture ano ang pwede mong maging expenses mo in a year at kung ano ang actual savings mo. Dyan yung time na iisipin mo pa na bumili ng kotse at ng mga gamit ng bahay or kung gano ka kadalas ma holiday.


* If your downpayment is 5%... you are subject for LMI
Sample LMI calculator: http://www.yourinvestmentpropertymag.com.au/calculators/mortgage-insurance/

Maraming salamat napaka informative po nito! Dito po kasi sa alberta medyo mababa ang interest rate nila nakuha lang po namin ng 2.7% payable for 25 years. Pero ang plus points naman sa AU ata if tama po ang nreasearch ko ulit ay mura lang ang home insurance? Yung sa amin po kasi 400k (10%dp) then we paid 1600++/yr for the home insurance (basic). Dyan po ata ay less than 1k? Pati po ang car insurance nag compare din ako sobrang mas mababa din po ata sa AU Although ang ginamit ko na basis ay yung generic lang pero price of petrol and car is expensive po ata. But salary there is much higher compared here kaya feeling ko po ay ma cocompensate lang?

We're planning to sell our house para yun naman po ang ipambili to save the cost in renting pero nasa point pa lang kami na nagcheck sa mga pros and cons if lilipat po kami (and if maapprove)

Maraming salamat po sa reply sir!!

TTam

@TasBurrfoot sir question po ulit. Sorry ikaw po ang lagi ko tinatanong, tanong ko lang po if how much ang interest rate (i know that it varies depending sa credit rating pero ano po yung average?) May naresearch po ako na 5% daw but not sure about it. And kailangan po ba na 2 years ka na employed? If i-avail yung 5% dp and LMI? Thanks po!!

average does not matter... look for a loan that suits your needs!

Maraming salamat po sir sa advise! Yup medyo nagcocompare lang po if which % is lower and value din po ng house just in case.

TasBurrfoot

@TasBurrfoot sir question po ulit. Sorry ikaw po ang lagi ko tinatanong, tanong ko lang po if how much ang interest rate (i know that it varies depending sa credit rating pero ano po yung average?) May naresearch po ako na 5% daw but not sure about it. And kailangan po ba na 2 years ka na employed? If i-avail yung 5% dp and LMI? Thanks po!!

* Interest rate varies depende kung san ka nag loan.
If basesis is this website: http://www.infochoice.com.au/home-loans.aspx
- as low as 4.545 interest rate

Bkit kailangan mo ng average? look for the lowest and features of loan that fits your needs/requirements.

* Not ncessary na 2 yrs working experience... If you can provide a huge deposit and show a regular monthly savings is enough to convince them that you are capable of paying your mortgage.
Cguro sinasabi na 2 yrs since by 2 yrs dapat medyo stable ka na in australia at alam mo na kung ano expenses mo at magkano kaya mo loan at bayaran. Kung one year kasi syempre hindi mo pa ma picture ano ang pwede mong maging expenses mo in a year at kung ano ang actual savings mo. Dyan yung time na iisipin mo pa na bumili ng kotse at ng mga gamit ng bahay or kung gano ka kadalas ma holiday.


* If your downpayment is 5%... you are subject for LMI
Sample LMI calculator: http://www.yourinvestmentpropertymag.com.au/calculators/mortgage-insurance/

Maraming salamat napaka informative po nito! Dito po kasi sa alberta medyo mababa ang interest rate nila nakuha lang po namin ng 2.7% payable for 25 years. Pero ang plus points naman sa AU ata if tama po ang nreasearch ko ulit ay mura lang ang home insurance? Yung sa amin po kasi 400k (10%dp) then we paid 1600++/yr for the home insurance (basic). Dyan po ata ay less than 1k? Pati po ang car insurance nag compare din ako sobrang mas mababa din po ata sa AU Although ang ginamit ko na basis ay yung generic lang pero price of petrol and car is expensive po ata. But salary there is much higher compared here kaya feeling ko po ay ma cocompensate lang?

We're planning to sell our house para yun naman po ang ipambili to save the cost in renting pero nasa point pa lang kami na nagcheck sa mga pros and cons if lilipat po kami (and if maapprove)

Maraming salamat po sa reply sir!!

come settlement time and when we move in, i would be looking to pay at around $800/yr for a home and content insurance insured with fire and flood cover.

mejo mahal nga ang home insurance mo.

TTam

@TasBurrfoot opo sir yun talaga ang reklamo dito. Pati nga po sa car, mas mahal pa ang cost ng insurance ksa sa sasakyan mismo.

Nag check pala ulit ako ng home insurance docs namin to make sure ano ang mga covered: flood, hail at vandalism, yr 2012, 2000sqft-3 bdrm (considering naka discount kami dahil few meters away lang kami from fire hydrant..) hehe!

Yung sa car naman po, 3000++cad comprehensive suv (5-seater) brand new. Dyan po ba sir? Tama po ba ang nakita ko na nagrrange sa 600-800 ang car insurance using 35yo male driving subaru, nakakimutan ko po ang website. If yes, then it's much more cheaper nga po dyan pagdating sa insurance pero ang sasakyan po ata ang mahal, compared to carsales using melbourne as the city but if ittotal siguro it would come up as the same (more or less)?

Salamat sir..

TasBurrfoot

@TasBurrfoot opo sir yun talaga ang reklamo dito. Pati nga po sa car, mas mahal pa ang cost ng insurance ksa sa sasakyan mismo.

Nag check pala ulit ako ng home insurance docs namin to make sure ano ang mga covered: flood, hail at vandalism, yr 2012, 2000sqft-3 bdrm (considering naka discount kami dahil few meters away lang kami from fire hydrant..) hehe!

Yung sa car naman po, 3000++cad comprehensive suv (5-seater) brand new. Dyan po ba sir? Tama po ba ang nakita ko na nagrrange sa 600-800 ang car insurance using 35yo male driving subaru, nakakimutan ko po ang website. If yes, then it's much more cheaper nga po dyan pagdating sa insurance pero ang sasakyan po ata ang mahal, compared to carsales using melbourne as the city but if ittotal siguro it would come up as the same (more or less)?

Salamat sir..

ah, i just got a third party insurance at $400/yr... i dunno much about comprehensive insurance.

let's stick to topic please re: Houses!

TTam

@TasBurrfoot Wow mura nga po sya talaga.

Sincere apologies sir..

TasBurrfoot

@TasBurrfoot Wow mura nga po sya talaga.

Sincere apologies sir..

no dramas mate!!

apply na and transfer!! ehehehe...

TTam

@TasBurrfoot my skype consultation po kami sa isang consultant this week dyan din po sila located sa Melbourne para mas clear po lahat. Hehe!
Hirap po kasi pag wala agent lalo na both kami nagwowork tapos may baby pa, hopefully maging ok po ang lahat.

TasBurrfoot

@TasBurrfoot my skype consultation po kami sa isang consultant this week dyan din po sila located sa Melbourne para mas clear po lahat. Hehe!
Hirap po kasi pag wala agent lalo na both kami nagwowork tapos may baby pa, hopefully maging ok po ang lahat.

a lot of people are doing it on their own without the aid of an agent... saves them money!

all the best...

rylynn

@TasBurrfoot thanks sa reply.. yung kasama pala sa computation is para sa insurance contents etc.. wala ngang LMI ... thanks.

no need 2 years sa work depende kasi sa bangko din , normally background check ka nila pati past job mo if less than 1 year pa sa australia , this is for our case.

anyone who timeline for newly build homes? currently nasa colour selection na kami..

TasBurrfoot

@TasBurrfoot thanks sa reply.. yung kasama pala sa computation is para sa insurance contents etc.. wala ngang LMI ... thanks.

no need 2 years sa work depende kasi sa bangko din , normally background check ka nila pati past job mo if less than 1 year pa sa australia , this is for our case.

anyone who timeline for newly build homes? currently nasa colour selection na kami..

what is colour selection @rylynn? established home kasi kami so cannot answer on this.

atchino

@TasBurrfoot thanks sa reply.. yung kasama pala sa computation is para sa insurance contents etc.. wala ngang LMI ... thanks.

no need 2 years sa work depende kasi sa bangko din , normally background check ka nila pati past job mo if less than 1 year pa sa australia , this is for our case.

anyone who timeline for newly build homes? currently nasa colour selection na kami..

San location kay naka bili?
Sino developer?

rylynn

@tasburrfoot newly build yung sa amin.. nasa council naman design approval..
@atchino dito sa queensland kami nearby suburb sa city (35 mins puro highway) regents park , planbuild yung developer...

TasBurrfoot

Settlement completed after 4.5 months... Well worth the wait as we were able to build a few thousands more in savings!

Now cash poor but with a property!

JCsantos

Settlement completed after 4.5 months... Well worth the wait as we were able to build a few thousands more in savings!

Now cash poor but with a property!

Congrats Men!

vhoythoy

Settlement completed after 4.5 months... Well worth the wait as we were able to build a few thousands more in savings!

Now cash poor but with a property!

Congrats!

Ako makapila muna sa toto, 6M na daw price, Makabili agad ng 3 haus hahaha

mandand

We just built a new home with Carlisle homes in the west part of Victoria. Almost 2 months now living in the new house. Used our CPF to buy the house and land. Paid 10% deposit. Migrated in AU June last year.

atchino

Settlement completed after 4.5 months... Well worth the wait as we were able to build a few thousands more in savings!

Now cash poor but with a property!

Congrats Men!

Congrats!

Umaasa pa rin na makabili hehehe....

taas ng taas ang property in Sydney.

Ayaw pa pumutok ng bubble :-)

arlene5781

ask ko lng po kung sino sa kababayan natin nakakuha sa new suburb edmondson park? pa share naman po thanks

JCsantos

Congrats!

Umaasa pa rin na makabili hehehe....

taas ng taas ang property in Sydney.

Ayaw pa pumutok ng bubble :-)

50 years na raw yang housing bubble na balita .. inde pa rin daw nangyayari ayon sa isang post sa whirlpool

icebreaker1928

Congrats!

Umaasa pa rin na makabili hehehe....

taas ng taas ang property in Sydney.

Ayaw pa pumutok ng bubble :-)

50 years na raw yang housing bubble na balita .. inde pa rin daw nangyayari ayon sa isang post sa whirlpool

inaantay ko rin yang bubble na yan e... sige antay pako ng 50yrs wala pa rin pambili e

vhoythoy

Sana pumutok na yan bubble na yan wala din pambili hahaha.

http://www.news.com.au/finance/economy/is-there-a-housing-bubble-thats-about-to-burst-in-australia/story-e6frflo9-1227062516640

http://www.abc.net.au/news/2014-09-29/verrender-its-official-there-is-no-real-estate-bubble/5775112

atchino

Tagal na nga ng prediction. Ang tagal umikot ng cycle.

Protektado ng government - marami yata property investment mga politician hehehe....

atchino

ask ko lng po kung sino sa kababayan natin nakakuha sa new suburb edmondson park? pa share naman po thanks

Congrats!

single storey and who is the builder?

peach17

This is fair enough...

Pero if I am to ask, would there be any good website that you would know wherein they would give a nice overview of any particular suburbs?

This will be a good start perhaps!

Maybe you can try this...

http://www.streetadvisor.com.au/

Looks interesting...

Thanks!!

Hi @TasBurrfoot, pang NSW lang po ba yang link?

peach17

http://www.homeloanexperts.com.au/lenders-mortgage-insurance/lmi-premium-rates/

LMI calculator

Thank you @JCsantos...

Hindi pala ganun din kalakihan ang LMI - akala ko aabot sa halaga na equivalent to a brandnew car...

lamok man ito sa paningin, pagkagat ng bayaran mararamdaman mo pa rin

hehe natawa ako dito @jaero

peach17

http://www.homeloanexperts.com.au/lenders-mortgage-insurance/lmi-premium-rates/

LMI calculator

Thank you @JCsantos...

Hindi pala ganun din kalakihan ang LMI - akala ko aabot sa halaga na equivalent to a brandnew car...

lamok man ito sa paningin, pagkagat ng bayaran mararamdaman mo pa rin

hehe natawa ako dito @jaero

peach17

@nfronda and @littleboyblue ilang taon na oo kayo sa AU? I was wondering how at an average can someone own a house... thanks

Eto hindi ko personal experience, but that of a close friend. She's on her 3rd, almost 4th year in Au. No kids and alam ko malaki na sweldo (I heard nasa 130-140 na, but I could be wrong). But took her that length of time para kumuha ng unit, not even a house. Syempre I asked kung bakit, and she said malaki daw talaga kasi ang initial na perang kailangan eh.

Yung couple naman with 2 kids, in school na both, have been here for a decade and both working, just got a house less than 5 years ago.

Mga Pinoys to. I didn't ask any Aussie coz it's easier for them, they've been here all their lives. But I got this impression it's the downpayment that's the killer.

400K house @ 20% (DP) + 10% (misc fee for purchase) = easily 120K

Mabigat nga!!

hi @TasBurrfoot, ganito talaga yung kailangang savings bago makabili ng property?

20% (DP) - kung ayaw ng Mortgage Insurance
10% (Miscellaneous)

So talaga dapat at least may ipon na 30% ng property price na bibilhin?

peach17

Mga masters @TasBurrfoot @JCSantos,

saan po ba dapat magsimula?
I mean anu-ano mga kailangang alamin kapag nag iisip isip na kung bibili ng bahay?
First time kasi namin ito... wala kami idea sa pagbili ng property lalo na dito sa AU.
ano po mga tips nyo na pwede namin simulang basahin?

TasBurrfoot

@peach17 - first thing na gawin is mag-ipon... given naman ito.

(1) Draw your budget

(2) Once you have your budget - search for a suburb(s) that you like and at the same time within your budget

(3) Then tingin tingin ka sa mga bahay kahat wala pa pera, do home inspections - ganito kami ni misis, 6 months palang tingin tingin kami ng mga bahay kahit malayo pa ang target ipon. manood ng auction.

(4) Repeat 1 to 3 as you may have more insight which may affect your previous choices.

(5) Once you go serious na - goodluck! It will take a lot of time to look for the right one. Kami ni misis, 6 months bago nakita namin ang munting bahay namin. But it was worth the wait.

- Best source of information are people who live in the suburb themselves - ask your friends.
- Be open, just because hindi bago ang bahay, it doesn't mean na hindi maganda - this is a personal choice no but for us personally, an old house is more attractive for us.

All the best!!