35% deposit isn't enough. What a paralysing thought. The house prices in Australia is just absurd for single income households.
I've been looking around the country for a place to call home and this is just one of the many places I've been investigating for the past year.
Bathurst is approximately 250km West of Sydney, Australia. It is one of the first satellite cities at a time when the New South Wales government tried to decentralise and push development into regional areas. That plan has been abandoned now, but the 'EVO' satellite cities are still there.
For starters the housing prices are significantly cheaper than Sydney. Of course this is reflected in the population of the satellite city and the opportunities for employment i.e. limited or none depending on your skills / sector.
The only thing Bathurst is known for is the motor sport history in my opinion, tourism and education is it's main export as a regional town in NSW.
But I've been scouring this area because of the new housing projects in the urban fringes which has access to high speed broadband internet, and fairly new housing estates.
I'm at the age where I desire my own home and I want one even if it is out of the city. It is afterall an important asset before retirement.
It would be absurd to commute daily from Bathurst to Sydney but it'll be a good place to chill on the weekends and time off from work (at least until I secure local employment).
This is all speculation though. At this stage it is considered planning rather than action. The prospects of rising interest rates is concerning and it is risky to dump all my savings into a house too.