my dream home in carlo. (help!) (1 Viewer)

[kidokkyo]

hi everyone. i would appreciate your wisdom.

right, so like my dream is to one day get married and live in a nice home in carlingford, send the kids to a nice public school and we'll live happily ever after. i just like carlingford, i think it would be a good place to have a family.

well, even if i don't have a family, i would like to live there.

i'm in my final year of uni. i want to go to grad school after this and hopefully get a job as an academic. i've never had a job apart from a few internships related to my study.

so basically i have no income let alone savings, but i do want to start thinking about gathering resources, especially since i know i'm going to start post-uni life with a stack of hecs debt. yum.

so my questions are:

• how should i go about getting a house in carlingford? should i just forget this and worry about it then?
• should i get a part-time job and save? or focus on studying hard now so i can get a decent starting salary once i graduate?
• what kind of money do you need to have/be earning before you can take out a home loan?
• am i romanticising carlingford too much? if you've lived there, know it, please tell me what it's like! the good, the bad, anything!

kinda random, i know. but would appreciate your comments.

cheers

 

[iRuler]

how should i go about getting a house in carlingford? should i just forget this and worry about it then?

Forget about it now and worry about it a few years down the track, right now start saving up now.

should i get a part-time job and save? or focus on studying hard now so i can get a decent starting salary once i graduate?

Get a job right now, and study along with the study, surely study doesn't take up that much time. Work experience will help you get that job with a decent salary after you graduate, your skills in the workforce will be an advantage to someone who has little experience with excellent marks.

The point is start saving up, and get the experience, and then also study hard.

what kind of money do you need to have/be earning before you can take out a home loan?

Generally if you're working with a good salary, you usually need to put in 10% of the amount and the bank will loan you 90%, so if the house is 500k you put in 50k and bank d=puts in 450k (I have no idea about house prices in Carlingford), and you should be earning well, if you have a loan of 450k on you for 30 years (either a 25 year or 30 year loan term is normal), your monthly repayment will be about $3100 per month, so if you're earning about 80k+ a yr, you should have the loan approved, it does depend on the criteria of each bank tho, so dont quote me on this.

am i romanticising carlingford too much? if you've lived there, know it, please tell me what it's like! the good, the bad, anything!

You probably are romanticising it too much but I wouldn't know, dont live there sorry.

 

[kidokkyo]

what a lovely, down-to-earth reply. v realistic but not a joykill! thank you!

Work experience will help you get that job with a decent salary after you graduate, your skills in the workforce will be an advantage to someone who has little experience with excellent marks.

The point is start saving up, and get the experience, and then also study hard.

good advice. don't think i've ever heard it put so straightforwardly.

Generally if you're working with a good salary, you usually need to put in 10% of the amount and the bank will loan you 90%, so if the house is 500k you put in 50k and bank d=puts in 450k (I have no idea about house prices in Carlingford), and you should be earning well, if you have a loan of 450k on you for 30 years (either a 25 year or 30 year loan term is normal), your monthly repayment will be about $3100 per month, so if you're earning about 80k+ a yr, you should have the loan approved, it does depend on the criteria of each bank tho, so dont quote me on this.

thank you especially for this info! i don't know how to acquire this kinda info. why am i so worldly-unwise? i ask my folks and they just kinda roll their eyes in disbelief that i don't know it oTL.

 

[LonelyWolf]

hi everyone. i would appreciate your wisdom.

right, so like my dream is to one day get married and live in a nice home in carlingford, send the kids to a nice public school and we'll live happily ever after. i just like carlingford, i think it would be a good place to have a family.

well, even if i don't have a family, i would like to live there.

i'm in my final year of uni. i want to go to grad school after this and hopefully get a job as an academic. i've never had a job apart from a few internships related to my study.

so basically i have no income let alone savings, but i do want to start thinking about gathering resources, especially since i know i'm going to start post-uni life with a stack of hecs debt. yum.

so my questions are:

• how should i go about getting a house in carlingford? should i just forget this and worry about it then?
• should i get a part-time job and save? or focus on studying hard now so i can get a decent starting salary once i graduate?
• what kind of money do you need to have/be earning before you can take out a home loan?
• am i romanticising carlingford too much? if you've lived there, know it, please tell me what it's like! the good, the bad, anything!

kinda random, i know. but would appreciate your comments.

cheers

hahahahahahaha why would you want to live in carlingford / that area. I hate it being here so much there are no good shops, overcrowded and doesn't have a train station. More than anything else, if you're wog or white you will end up hating the asians settling in the area, just a terrible area, but i guess you are asian so why should i bother?

 

[kidokkyo]

hahahahahahaha why would you want to live in carlingford / that area. I hate it being here so much there are no good shops, overcrowded and doesn't have a train station. More than anything else, if you're wog or white you will end up hating the asians settling in the area, just a terrible area, but i guess you are asian so why should i bother?

reallyreally? why? is carlingford railway station out of action? really! didn't realise it was an asian(ish) suburb. (i've been visiting syd ever since before i can remember, but have never actually lived there before.) don't suppose you know if there's a particular asian nationality/ies that is dominant? how do they make it terrible?

thanks for your post!

ps. i see you're class of '11; all the best!
pps. history is awesome! (i'm a history major lol)
ppps. would you recommend another suburb instead?

 

[rodneyhughes81]

Take it one step at a time. Focus on the present but hang on to your dreams and plans. They're your guidepost to a very good future. Good luck!

 

[seremify007]

reallyreally? why? is carlingford railway station out of action? really! didn't realise it was an asian(ish) suburb. (i've been visiting syd ever since before i can remember, but have never actually lived there before.) don't suppose you know if there's a particular asian nationality/ies that is dominant? how do they make it terrible?

Carlingford has a train station but it is at the end of a line which doesn't get a lot of action (i.e. trains terminate before they reach Carlingford). Realistically you will be catching the bus to the city, or to Epping and catching the train from there. If you can drive it's not too bad since it's near Parramatta, Epping, Castle Hill, etc... on the downside though is prices will be higher because of it's location and being close to the academic selective schools (i.e. James Ruse) as there is higher demand for housing.

As for the amount that a bank is willing to lend, in current climates, they are even willing to lend up to 100% but keep in mind that if you're deposit is under 20% you will be paying LMI which can add a few $k on per year to a loan just for the benefit of the lender (i.e. money down the drain). Better off saving longer than paying LMI unless you must have a house.

ps. Just to be clear, I am referring to Carlingford in Sydney/NSW which I presume is what everyone else is talking about here. If I'm wrong, then by gosh I can't believe there's another suburb with such a similar name and demographics.

 

[ClassOf2013]

Carlingford does have a railway station, with an hourly service to Clyde (where transfers are available to the Western Line). There's also the M54 bus running through Carlingford, which travels one way to Parramatta, and the other to Epping Station and Macquarie Uni/Centre. Runs pretty frequently IIRC.

 

[MagnificentOne]

CARLO 4 EVA!