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We actually moved to a bigger house when we bought, but different suburb. Depends on how much you borrow I suppose. Our loan was smaller than typical most prob
by nullsense 6y ago
We actually moved to a bigger house when we bought, but different suburb.
Depends on how much you borrow I suppose. Our loan was smaller than typical most probably, so we wind up paying about 30% less. But we were renting for $2k a month just 2 bedroom place. Would have been millions to buy that place too. Just getting to the point it's stupid.
I don't really know how we did it but we managed to get a decent place for under 700k, but average price is now about 1.1 million or something crazy. My sister has been looking and for what they want it's all north of 900k and incredibly competitive. So, I'd imagine the loan on that would be quite a bit more, and 30% more expensive month to month might be realistic depending on your situation.
At one point we were on a single income when I was just starting my career and paying that high rent with a new born baby in the house. It was tough. I can't imagine what it's like in single income households with multiple kids. The math just doesn't check out.
It's definitely a great place to live if you can afford it though. Insulated from a lot of the worlds bullshit.