Watching the news tonight there was a story about a real estate boom in Brisbane and Toowoomba. Apparently prices have risen promisingly (great for sellers) while remaining affordable (great for buyers). Now this sounds great, yes? Well they went on to say that ‘entry level properties’ were being snapped up by young couples and families around the early 800 thousand dollar mark.
Am I crackers in thinking this is not cheap? How in the hell are ‘young families’ affording these bargains!?
We are deliberately looking out of the city at properties that are not above 230K. Which (assuming we can get a mortgage) would see our repayments sit at around $400 a week. That to me is affordable. That would mean that we can still cover our bills, the kids extra curricular activities and have coffee/dinner/holidays without wanting to vomit at the debt we are swimming in.
Neither of us are interested in mansions, multiple bathrooms, cinema rooms, parents retreats. The things that attract us are big yards, room for bmx tracks, chooks, vege patches, fire pits and maybe even a goat. When you can get all of that 40 mins from the heart of the city for under $250K why wouldn’t you check it out?