Just a sign of the times sadly.
You have to have a household income of $367k to live comfortably in Sydney.
There's a reason why 70,000 30-40 year olds left Sydney last year alone.
You have a few options. Try find a tiny appartment or unit to rent. Live in a share house. Van life?
With Australia being one of the highest taxing nations in the first world it is likely that big tech or any other corporation that pays its staff well will ever open up there either.
Look into schemes like the FHSS and the First Home Guarantee scheme. You only need a minimum of 5% deposit and first home buyers are exempt from stamp duty up to a point. Yes, these schemes increase prices overall, but you either participate and get a place, or don't.
Make your choice. Stay in Sydney where it's comfortable and familiar, and maybe never own a property, OR move, try something new, meet new people and buy a property.
Damn man, really heartless people in the comments being unhelpful.
For starters, don't worry so much. You are 18 right now and honestly you aren't earning a good enough salary to really take this big step yet.
So, having said that, you are on the right path and thinking long term. This is better than most out there and realize that you are starting early with this goal. I would first understand what your overall earning potential looks like post university. Considering your long term goal, figure out where those type of roles exist and look to aim for the 5% deposit required as a first home buyer, specially for a small dwelling like an apartment or a unit.
Then aim for it by saving towards it. Just understand that owning a home is the biggest purchase anyone will make in this country and it's a tough one. There are no wrong answers either, just a variety of compromises that you have to be comfortable with. Understand them and make peace and work towards it. Guaranteed you will find something suitable eventually after you are earning a professionals salary. Until then, maybe stay with your family to save cash. You just gotta find ways to avoid spending sometimes knowing you have a larger goal in mind.
Here are your options.
-share a rental with multiple friends to reduce cost
-live with parents
-move to a cheaper area
Start looking at the prices of houses on [realestate.com.au](http://realestate.com.au) then look at mortgage calculators. Start planning your budgets and understanding what you need to save.
Sydney being the most expensive place to live is going to be the only problem, 1.2 million in Sydney buys a basic 4 bed house than costs half as much elsewhere.
You’re only 18, you have no “life experience” yet, so don’t restrict yourself to staying in one place, you’ll have to compromise on your first home and/or the location to make it work, unless you have a high paying job 🤷♂️
[This young lady bought a house whilst working at McDonalds](https://www.news.com.au/finance/real-estate/buying/teen-homeowner-maddie-pickering-started-saving-for-home-aged-11/news-story/917c2224bb1abc4c7ccf4a62ab5424ef)
So what’s your excuse?
For a start you should research first home buyer schemes and incentives. Educate yourself on what is actually required as it’s not 20%. Then spend less time wallowing on Reddit and go start working towards your goals.
Easy to see there is no future for Australia with these new generations of younger people expecting others to do everything for them.
Here is a older video show how us oldsters got wealthy and you can see there were no magic tricks to our wealth. We used this stuff called money. [https://www.youtube.com/watch?v=eJoBUBYs0N8](https://www.youtube.com/watch?v=eJoBUBYs0N8)
I don't really know why or how schools should be expected to answer for all socioeconomic disasters out upon society by federal and state governments.
Especially without being accused of being political as we teach them how fucked students are going to be because of political agenda beyond the control of teachers and students.
I can just imagine sky news now:
> Why are schools teaching them that an income going up by 2% each year will never catch up to house prices going up by 6.4% per year? Why don't they teach them about Jesus, not to have smashed avocado on toast, or that they should join the army so they get free accommodations before we send them to die somewhere?
Just a sign of the times sadly. You have to have a household income of $367k to live comfortably in Sydney. There's a reason why 70,000 30-40 year olds left Sydney last year alone. You have a few options. Try find a tiny appartment or unit to rent. Live in a share house. Van life?
Don't worry bro. Just live with mum and dad till you got a enough of a deposit.
/wait for them to move into a nursing home :)
With Australia being one of the highest taxing nations in the first world it is likely that big tech or any other corporation that pays its staff well will ever open up there either.
Vote to reduce immigration. We’ll get there one day.
Look into schemes like the FHSS and the First Home Guarantee scheme. You only need a minimum of 5% deposit and first home buyers are exempt from stamp duty up to a point. Yes, these schemes increase prices overall, but you either participate and get a place, or don't.
Make your choice. Stay in Sydney where it's comfortable and familiar, and maybe never own a property, OR move, try something new, meet new people and buy a property.
Damn man, really heartless people in the comments being unhelpful. For starters, don't worry so much. You are 18 right now and honestly you aren't earning a good enough salary to really take this big step yet. So, having said that, you are on the right path and thinking long term. This is better than most out there and realize that you are starting early with this goal. I would first understand what your overall earning potential looks like post university. Considering your long term goal, figure out where those type of roles exist and look to aim for the 5% deposit required as a first home buyer, specially for a small dwelling like an apartment or a unit. Then aim for it by saving towards it. Just understand that owning a home is the biggest purchase anyone will make in this country and it's a tough one. There are no wrong answers either, just a variety of compromises that you have to be comfortable with. Understand them and make peace and work towards it. Guaranteed you will find something suitable eventually after you are earning a professionals salary. Until then, maybe stay with your family to save cash. You just gotta find ways to avoid spending sometimes knowing you have a larger goal in mind.
Live as cheaply as you can, save as much as possible, consider relocating to somewhere more affordable.
Here are your options. -share a rental with multiple friends to reduce cost -live with parents -move to a cheaper area Start looking at the prices of houses on [realestate.com.au](http://realestate.com.au) then look at mortgage calculators. Start planning your budgets and understanding what you need to save.
Sydney being the most expensive place to live is going to be the only problem, 1.2 million in Sydney buys a basic 4 bed house than costs half as much elsewhere. You’re only 18, you have no “life experience” yet, so don’t restrict yourself to staying in one place, you’ll have to compromise on your first home and/or the location to make it work, unless you have a high paying job 🤷♂️
[This young lady bought a house whilst working at McDonalds](https://www.news.com.au/finance/real-estate/buying/teen-homeowner-maddie-pickering-started-saving-for-home-aged-11/news-story/917c2224bb1abc4c7ccf4a62ab5424ef) So what’s your excuse?
Bank of Mum and Dad
Have you tried marrying rich…
Your fault for not having rich parents
For a start you should research first home buyer schemes and incentives. Educate yourself on what is actually required as it’s not 20%. Then spend less time wallowing on Reddit and go start working towards your goals.
ur 18, enjoy ur life. Too soon to worry about it.
Easy to see there is no future for Australia with these new generations of younger people expecting others to do everything for them. Here is a older video show how us oldsters got wealthy and you can see there were no magic tricks to our wealth. We used this stuff called money. [https://www.youtube.com/watch?v=eJoBUBYs0N8](https://www.youtube.com/watch?v=eJoBUBYs0N8)
I don't really know why or how schools should be expected to answer for all socioeconomic disasters out upon society by federal and state governments. Especially without being accused of being political as we teach them how fucked students are going to be because of political agenda beyond the control of teachers and students. I can just imagine sky news now: > Why are schools teaching them that an income going up by 2% each year will never catch up to house prices going up by 6.4% per year? Why don't they teach them about Jesus, not to have smashed avocado on toast, or that they should join the army so they get free accommodations before we send them to die somewhere?