Hi everyone,
I'm interested in getting into the property market but would like some general tips on steps to take when starting out. I have saved 300K, am a newly graduated doctor earning 77K pa which is due to increase at the rate of ~12.5K p.a. for the next 5 years, then increase at a faster rate depending on the specialty I end up in (difficult to estimate but likely ~400K pre-tax p.a.).
Only debt currently is HECs at 68K. I live in my husband's townhouse which he is paying off currently, we plan to live there for a few years and then turn it into an IP and upsize when we decide to have children (? 5 years). I've never owned a property and am interested in purchasing one to start off with and then eventually enough IPs/other forms of investments to provide me with an income so that I'll be working for enjoyment rather than money.
Thanks!
Beginner's Advice
I'm interested in getting into the property market but would like some general tips on steps to take when starting out. I have saved 300K, am a newly graduated doctor earning 77K pa which is due to increase at the rate of ~12.5K p.a. for the next 5 years, then increase at a faster rate depending on the specialty I end up in (difficult to estimate but likely ~400K pre-tax p.a.).
Only debt currently is HECs at 68K. I live in my husband's townhouse which he is paying off currently, we plan to live there for a few years and then turn it into an IP and upsize when we decide to have children (? 5 years). I've never owned a property and am interested in purchasing one to start off with and then eventually enough IPs/other forms of investments to provide me with an income so that I'll be working for enjoyment rather than money.
Thanks!
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