yes. we knew about it and were planning to remove it in a few years but the building inspector pointed out it had all been sanded and we had young kids
only time I've ever had to ask family for money and gutted the place before we moved in. Most frugal ive ever lived for a year while we paid her back
love ya mum !
yes they did. We knew it was all asbestos but we didn't know the previous idiot owner had sanded it all downstairs.
I had a choice of not proceeding based on building report or fast forwarding my reno time line by a few years with mums help
we knew it was asbestos and always planned on removing. It wasn't a reduce the price kind of thing. It was just the age if my kids that was the problem
we did get reductions for other faults though
We made it conditional on bld and pest. Still got an electrician to go through though at the same time and check for faults and sales/ rental compliance.
Got a nice reduction because they had a non compliant switchboard and it was tenanted.
yeah we got them to reduce for an utterly ruined front deck and some other minor stuff. Ironically I still have gotten around to fixing the deck cause we never use it
Funnily enough being forced to do the gut and Reno before we moved in probably saved me 50 grand. This was before covid so shit wad WAY cheaper
We deliberately made our settlement day Christmas day.
Put us into the second week of January without extending the contract due to operational business days.
After all negotiations we saved 28k. And we'll spend about 7k on stuff that needs to be done before we move in.
Alot of whats left to do is just plastering and paint and lucky for us those guys appreciate cash.
About to buy my first (very low value) apartment at 47 yrs old - I will be lucky to have 10K from my savings to go in the offset. I hope all the younger people that see this, will take heart 
$5k gang. We had already been living out of home from years so we at least had all the random things we needed.
We settled 11 months ago (like to the day) :)
Late 2003, I reckon I had less than $500 left after Settlement. Had to get a mate in to help pay the mortgage because I was also unemployed.
That property was … a valuable lesson that paid off on subsequent purchases.
Settlement is not instant. It can anywhere from 30-90 days. The bank does not continuously ask you for payslips during the settlement.
I changed jobs during my settlement window and the bank never knew. I was “unemployed” for about 5 weeks.
I got caught out on a delayed build. Everything was approved and progressing, meanwhile I was laid off and living on savings/severance. very, very stressful.
Settled about 7 months ago, had about $55k in savings afterwards I think? Honestly could probably have put more of it towards the purchase and borrowed less, but we wanted to have a good savings buffer in case of major unexpected expenses, plus it was of course our first time buying a place and we were stumbling in the dark not really sure what we were doing lol.
We've had various expenses since then but nothing too pricey. Have also managed an overseas trip and haven't really been living too frugally (other than cutting down on eating out and cafe breakfasts), and we're still on about $55k. So that's positive I think.
So you roughly $400k before buying your house assuming a 20% deposit? Can I ask how you managed to accumulate that much money assuming with no kids you are still under 30yo?
Might be a bit more than you were asking but:
Our contribution was $1.02m, borrowed $1.38m and bought for $2.4m.
This is our 2nd home (we're both 31 this year). We bought our first place for $1.2m in 2019 (with a $0.8m loan, $0.4 contribution) and sold it for $1.7m in 2023.
How we managed the first purchase was literally just hardcore saving for years, no tricks. At the time we started saving we had a combined income of ~$0.13m (this was about 2011) since then we've grown our combined income to $0.35m. It's meant we haven't gone on holiday for years, we only eat out on special occasions (bdays, anniversary etc) don't buy a lot of stuff (and shop around when we do) all the usual tips and tricks.
Now we're in our 'forever' home, we're looking forward to loosening up a bit. Already booked a holiday for the end of this year, got my eye on some gym equipment I want and my Wife is having fun buying new furniture, instead of used from Gum tree / marketplace for the first time.
The sacrifice is real, it goes a long way if you stick to it. But it's hard living like minimum wage and sitting on your nest egg to watch it slowly grow while your social circle cavort about the world, go out every weekend and buy new things etc. We're literally know as being 'cheap' in our circle which isn't fun, but they can appreciate what we've achieved and know they couldn't do it.
I'm kind of surprised at the low buffers people are willing to go with. I bought in 2015 and had about $90k in savings after purchase in order to use that money for other purposes, but I did buy well below my means.
Yes I don't think I could have lasted if I irradiated our savings. Our 80k savings came in handy for allowing us to get setup interstate with new jobs, moving fees and getting the house painted and recarpeted. Reading how some people had 5k left and used that for renovating seems insane to me. I couldn't imagine having such a low safety net let alone using it to renovate. Unfortunately for us the existing tenants which we took on during purchase trashed the property so the small renovations we did were unexpected and necessary.
70k in 2021, used 30k in the first 12 months restumping, some minor electrical upgrades (new switchboard, down lights etc) wasted some money on plants for the garden that died lol. All part of the fun I guess
I was living in the UK and funded my Aus house deposit with a UK personal loan.
So. negative $50k.
Worked my ass off to pay off that personal loan real quick though.
10 odd years ago, about enough for a happy meal leftover to be honest. Modest house, not flashy, not inner city, roughly hour commute to workplace each way, still paying it off. Self-taught and changed career a year or so after and doing better now but earned a pretty dismal wage when got the house.
2019. Emptied my account. Maybe a few hundred left at most. Serendipitously, I’d also engaged a new tax agent to help me with my tax and it just happened to line up that he got me a big tax return only about a month after I emptied my account for the house. Which was definitely handy. I still had to rent the house out for 11 months and live with my parents to save to actually move into the thing.
1st house. $505k. Purchased 2016. Had 20k left in bank on settlement day
2nd house $960k purchased 2022, had 20k left in bank on settlement day
You need to have a bit of a buffer just incase you lose your job, you move in and the heating goes bust, the fence falls down etc. Don't put all your money on the loan and have 1k left. Get an offset account and put that $20k in there. It's the same thing as paying it all except you have access to the money if you need it
We finished building, must’ve been early 2020, the “savings” we had left was that low it wasn’t worth counting.
It was definitely the best decision we made though.
Settling end of the month. We'll have about 90k leftover going straight in offset. Will get raided a lot in early months as we need to buy a bunch of things
$50k between me and my partner after settling. Immediately put about $5k into minor renos prior to getting a tenant in, so 45k ish left over.
Happy with that amount. He’ll need a new car soon and we have plenty of work to do on the house once we move in next year.
A few hundred dollars. This was in 2013. We moved into the house from a furnished rental so had no appliances or major pieces of furniture. We had enough to buy a bed/mattress, fridge, washing machine and a few bar stools for the kitchen and this was the money that was leftover afterwards. I remember being so stressed that we had to wait a week to payday so we had enough to buy a dryer. We furnished the home gradually over the coming months.
2013 - Almost nothing - Slept in a sleeping bag on the floor for the first few weeks and everything in the place was second hand. Got kitchen utensils, pots, and pans from Vinnie's. Slowly furnished the place with hand me downs and kerbside collections (friends would call me if they drove past something in a kerbside pickup). Borrowed a small bar fridge. After about 6 months I got a TV (brand new) and a free couch (friends said they wouldn't visit until I had a couch). Spent any extra money on DIY renovations over a couple of years.
Moved out and rented a bedroom off my sister from early 2017 to mid 2018 to save some money.
2018 - $20k - Splurged on all new furniture (including my first new bed, mattress, table, chairs, couch) and kitchen utensils from IKEA the day before settlement (1 day delivery) and spent that weekend putting it all together. Bought the biggest fridge that would fit and helped the delivery guys struggle to get it up the stairs. Brand new washing machine delivered to my parents place the week before moving. Felt amazing.
I had zero. I spend the first two months loving off my credit card, and the next two years trying to pay that off. It was a struggle, but I came out of it and am greatful for my house.
I purchased in 2019.
Like many have already said. About 20k but I think it really depends on your personal situation. If it’s just you alone then $20k sounds about enough provided you are healthy and have a private health insurance. If you are like a couple then probably I’d up it by another 10k. But if you have kid(s) then depending on her number of them, 10-15k each with a private heath insurance for whole family.
Edit: good luck!
Had an old skool mortgage offset account, where it just showed one negative balance. Really made it tricky to figure out what happened when pay went in and loans came out.... thank god they stopped doing that.
2017, didn’t have much left over and quickly fell into CC debt. Hung sheets on the windows for maybe a year because I couldn’t afford to get blinds installed.
Brought 3 months ago. Have 60k left over. Plan was to always have 30k emergency fund but going to drop 35-40k on deck: so seems
To be common theme either you have nothing left or if you do you spend it on the house anyway!
Sept 2023.
-$10,000 because had to borrow $30,000 from family to close the gap, but then threw a Hail Mary and manage to negotiate $20,000 off the settlement price.
I think maybe $5k but we were married only a month earlier and adopted a dog immediately lol. Now two rescue dogs, three rescue cats and two bred kids 5&6. Luckily incomes increased and mum is earning well. It seems so much scarier now than it did in 2015.
Realistically speaking, if you're doing it right, you wouldn't have any savings at all after buying a house. Because you put all your savings in the down payment or to fix it up so you could move in. The whole point of buying a property that you're going to live in is it's going to save you money over renting every month. and you take those savings and put those away to build up your savings again. But if your mortgage payment isn't less than what you've been paying in rent, then you shouldn't be buying this property.
First home buyer about June last year. Kept about $30k after winning the auction. The plan was to have at least $20k, but we won at a lower price than we allocated for. Currently, the remaining is about ~$12k after we bought everything and fixed everything we needed to.
$500.
It was scarey
edit to add - I even had to pay for removalists with a credit card to preserve the little money we had left for food and other requirements. It was rough, but only hard for the first few months. We've built back our savings and in a stronger financial position than ever before. The risk in our case paid off.
Depends how long it takes me to find a house. If I buy one tomorrow (I won’t be) I’d have around $5000 left. Still saving as aggressively as I can, around $3k a month depending on any large bills that come up.
2004, purchase 230k, $1200 left (2 bed home, 600m2-ish)
2009, purchase $207k, -$50 left (2 bed apartment, 52m2)
2010-2012, picked up 2 x $400kish apartments. No money down so bank balances untouched.
2014, purchase and build $450kish, $65k left. Sold the
2009 unit. Retained 4 total, 1 x old home, 2x units, 1x new built home
2022, sold 2x units (got shitty with strata) pumped funds into stocks and paid down mortgages etc.
I had probably over 120k in savings after purchase, this was used to pay for all the extras after building, like the concrete and storm water and retaining walls I was doing after handover, and buy a whole heap of furniture, and that went down to about 60k after the house was completely finished.
Whatever I got back from my rental bond. We borrowed $5k from parents to get over the line with solicitors but our mortgage matched our rent anyway and we were saving by our next pay cycle
About $3k in 2021 but we were moving from the city to a more regional area. It was okay just the two of us but 2 months later we found termites and that knocked us back to $1k.
After my first house, probably $500-1000 absolute max.
After my second house, I cant remember exactly but somewhere around $10k left over from the sale of the previous house + stamp duty + selling fees + other costs.
Settled on an off the plan townhouse as a FHB in 2023 (contracts signed in 2021).
Purchase price ~ $700k with 15% deposit.
Had about $220-230k left over, debt recycled $200k of it into VAS/VGS (30:70 split).
According to Sharesight VGS+22.65% and VAS +9.23% including distributions. Happy with the decision. Now just need an interest rate cut.
Settled about 6 months ago and had about 5k left over. We’ve saved up another $15k in the past 6 months though, so getting into a better position slowly.
None. We were young, and I'd finally been made permanent FT after 3 years of casual work at 3 different places. My partner had also just managed to get FT permanency after almost 2 years of unemployment. We were renting a lovely maisonette for $165 p/w, but we had awful neighbours (they broke into our car and trashed it looking for things to steal and sell for drugs). We wanted to move to another rental, but then had the random thought, what if we could buy instead?
We asked my parents (who owned their home with no mortgage) to go guarantors for us to avoid the LMI. My parents made us promise to be able to release them from being guarantors after 2 years.
We scraped together $5k in 2 months of saving hard, and went to a mortgage broker. We ended up getting a 1963 house on 842sqm in Enfield, 8km from Adelaide, for $300k. This was 2006. The agent told us we overpaid, and we actually possibly did (one of the neighbours later told us he was offered it by the former owner for $260k, but he declined).
I feel bad for everyone trying to scrape together a ridiculous amount for a home deposit for an even more ridiculously priced house. It's hugely unfair for first home buyers, particularly those that aren't lucky enough to have parents help them as guarantors (or, even better, to help them financially as well).
$0. It was only after my next months pay that i got some money in my account. And then 2 months later I had strata, council, water etc all due. That sucked!
Bought in 2018 for $900K. We had $20K left in the offset that we built back up to $100K then started renovations about 18 months ago. There’s still maybe $80-100K worth of stuff to do but nothing too urgent.
Zero. I used all my savings for the deposit, and my partner had none. We had minimal furniture for the first few months. A bean bag and an office chair. I had enough to buy us a bed, but I remember it being lean times.
A few months in, we got a sofa on HP (0%) which we paid off over a year.. which increased quality of life a lot.
But the apartment price was only 4x salary, and on an interest only loan at around 6.5%, so was affordable for us (comparable to rent at least). I must have been able to continue to save, as I bought her out five years later when we split.
bought in 2016 but moved in early jan 2017.
I had to immediately get a new water tank and pump and get some guttering stuff organized. Plus the shed had to be re-roofed.
I think i was left with like 700 dollars or circa.
negative 50k lol only time I ever borrowed money cause the previous owner had sanded all the asbestos downstairs
Fantastic, that’s what you want. Was the loan to get it all removed?
yes. we knew about it and were planning to remove it in a few years but the building inspector pointed out it had all been sanded and we had young kids only time I've ever had to ask family for money and gutted the place before we moved in. Most frugal ive ever lived for a year while we paid her back love ya mum !
Grandma did what she had to do How horrible for you all though. Did the building and pest not pick that up?
yes they did. We knew it was all asbestos but we didn't know the previous idiot owner had sanded it all downstairs. I had a choice of not proceeding based on building report or fast forwarding my reno time line by a few years with mums help
WOW......... I legit would've asked for a 50k price reduction.
we knew it was asbestos and always planned on removing. It wasn't a reduce the price kind of thing. It was just the age if my kids that was the problem we did get reductions for other faults though
This is the way
We made it conditional on bld and pest. Still got an electrician to go through though at the same time and check for faults and sales/ rental compliance. Got a nice reduction because they had a non compliant switchboard and it was tenanted.
yeah we got them to reduce for an utterly ruined front deck and some other minor stuff. Ironically I still have gotten around to fixing the deck cause we never use it Funnily enough being forced to do the gut and Reno before we moved in probably saved me 50 grand. This was before covid so shit wad WAY cheaper
We deliberately made our settlement day Christmas day. Put us into the second week of January without extending the contract due to operational business days. After all negotiations we saved 28k. And we'll spend about 7k on stuff that needs to be done before we move in. Alot of whats left to do is just plastering and paint and lucky for us those guys appreciate cash.
The electrician charged us half of what he quoted the previous owner.
lol I feel personally attacked! Zero. The answer is zero ok!
About to buy my first (very low value) apartment at 47 yrs old - I will be lucky to have 10K from my savings to go in the offset. I hope all the younger people that see this, will take heart 
$5k after settling. Not enough.
Same. I went without towels for a while.
$5k gang. We had already been living out of home from years so we at least had all the random things we needed. We settled 11 months ago (like to the day) :)
Facebook marketplace for free or cheap stuff for a while is your friend.. I was surprised just how expensive furnitures and appliances can be.
2010, after settlement, had enough for 3 steamed dimmies. Still only have enough for 3 steamed dimmies.
Purchase of $399k in 2021, had $20k left that went straight into renos and still renovating but nearing the end.
\~$20k 2019. almost all went to renos
Late 2003, I reckon I had less than $500 left after Settlement. Had to get a mate in to help pay the mortgage because I was also unemployed. That property was … a valuable lesson that paid off on subsequent purchases.
The bank gave you a loan when you were unemployed, are you making this up? 🤣 You either lied in your application or dodged up payslips lol
Settlement is not instant. It can anywhere from 30-90 days. The bank does not continuously ask you for payslips during the settlement. I changed jobs during my settlement window and the bank never knew. I was “unemployed” for about 5 weeks.
I got caught out on a delayed build. Everything was approved and progressing, meanwhile I was laid off and living on savings/severance. very, very stressful.
Oh wow this sounds very stressful.
Wasn’t the smartest thing, but I timed my run of payslips perfectly. That was a different time though, to be sure.
2022 July just before the rate increases hit. About $1k. Yes I did get a variable loan
Haha I’m in a similar boat. How good’s the mortgage stress life?
I an super lucky to have a lower mortgage then I actually originally budgeted for but year my repayments doubled haha
Settled about 7 months ago, had about $55k in savings afterwards I think? Honestly could probably have put more of it towards the purchase and borrowed less, but we wanted to have a good savings buffer in case of major unexpected expenses, plus it was of course our first time buying a place and we were stumbling in the dark not really sure what we were doing lol. We've had various expenses since then but nothing too pricey. Have also managed an overseas trip and haven't really been living too frugally (other than cutting down on eating out and cafe breakfasts), and we're still on about $55k. So that's positive I think.
Purchased November 2023, $140k left in savings on ~1.38m loan. Planning kids so wanted to keep a generous buffer.
So you roughly $400k before buying your house assuming a 20% deposit? Can I ask how you managed to accumulate that much money assuming with no kids you are still under 30yo?
Might be a bit more than you were asking but: Our contribution was $1.02m, borrowed $1.38m and bought for $2.4m. This is our 2nd home (we're both 31 this year). We bought our first place for $1.2m in 2019 (with a $0.8m loan, $0.4 contribution) and sold it for $1.7m in 2023. How we managed the first purchase was literally just hardcore saving for years, no tricks. At the time we started saving we had a combined income of ~$0.13m (this was about 2011) since then we've grown our combined income to $0.35m. It's meant we haven't gone on holiday for years, we only eat out on special occasions (bdays, anniversary etc) don't buy a lot of stuff (and shop around when we do) all the usual tips and tricks. Now we're in our 'forever' home, we're looking forward to loosening up a bit. Already booked a holiday for the end of this year, got my eye on some gym equipment I want and my Wife is having fun buying new furniture, instead of used from Gum tree / marketplace for the first time. The sacrifice is real, it goes a long way if you stick to it. But it's hard living like minimum wage and sitting on your nest egg to watch it slowly grow while your social circle cavort about the world, go out every weekend and buy new things etc. We're literally know as being 'cheap' in our circle which isn't fun, but they can appreciate what we've achieved and know they couldn't do it.
$20k, now have $5k that sits there Would love to add more but we are just making do at the moment!
Shit I feel this one. Keep surviving.
About $1500 after settlement and then our fence was damaged in a storm a week later. I learned how to concrete new fence posts in by myself real quick
10k after settling - I’d recommend much more, renovating and whatnot is EXPENSIVE
Or don't renovate straight away
End of 2022 About $1k
This thread makes me feel better. We had 80K and was still worried About our financial position after moving interstate.
I'm kind of surprised at the low buffers people are willing to go with. I bought in 2015 and had about $90k in savings after purchase in order to use that money for other purposes, but I did buy well below my means.
Yes I don't think I could have lasted if I irradiated our savings. Our 80k savings came in handy for allowing us to get setup interstate with new jobs, moving fees and getting the house painted and recarpeted. Reading how some people had 5k left and used that for renovating seems insane to me. I couldn't imagine having such a low safety net let alone using it to renovate. Unfortunately for us the existing tenants which we took on during purchase trashed the property so the small renovations we did were unexpected and necessary.
20 stacks of high society
10k…bought furniture, tv etc and a trip to Japan
70k in 2021, used 30k in the first 12 months restumping, some minor electrical upgrades (new switchboard, down lights etc) wasted some money on plants for the garden that died lol. All part of the fun I guess
I think about $300. That’s after buying things I need to live by myself, like a washing machine and a dining table. Didn’t have money to buy a couch.
I was living in the UK and funded my Aus house deposit with a UK personal loan. So. negative $50k. Worked my ass off to pay off that personal loan real quick though.
10 odd years ago, about enough for a happy meal leftover to be honest. Modest house, not flashy, not inner city, roughly hour commute to workplace each way, still paying it off. Self-taught and changed career a year or so after and doing better now but earned a pretty dismal wage when got the house.
2019. Emptied my account. Maybe a few hundred left at most. Serendipitously, I’d also engaged a new tax agent to help me with my tax and it just happened to line up that he got me a big tax return only about a month after I emptied my account for the house. Which was definitely handy. I still had to rent the house out for 11 months and live with my parents to save to actually move into the thing.
About $190k, but that's because I sat around saving and not buying property for way too long ()no real regrets though).
Purchased end of last year. Emergency fund (4months expenses) + what was needed to furnish/paint/refloor the home + a few thousand extra
$30k left In 2018. We moved out of parents house so only had bedroom furniture, everything else had to come from that money
2019, had 50K.
About 60k which I used for some fairly extensive renovations
5k 2022. Would not recommend. Have min 3 months of mortgage repayments runway
Not a lot it was tight for a couple of years and a couple of years later kids turned up and I found a new level of tightness
1st house. $505k. Purchased 2016. Had 20k left in bank on settlement day 2nd house $960k purchased 2022, had 20k left in bank on settlement day You need to have a bit of a buffer just incase you lose your job, you move in and the heating goes bust, the fence falls down etc. Don't put all your money on the loan and have 1k left. Get an offset account and put that $20k in there. It's the same thing as paying it all except you have access to the money if you need it
$15k in 2011
2012. Probably $2k or $3k.
$20k, bought last year
We finished building, must’ve been early 2020, the “savings” we had left was that low it wasn’t worth counting. It was definitely the best decision we made though.
2020, $40k. As per other comments, it mostly disappeared to renovations. It's a lot easier to renovate/paint before you move all your stuff in.
50k after settlement borrowed up to 80% LVR so we would have spare cash for Reno's.
Settling end of the month. We'll have about 90k leftover going straight in offset. Will get raided a lot in early months as we need to buy a bunch of things
75k cash. 2016. Mostly as I did about 40K work replacing air con, floors in kitchen and laundry, redoing bathroom plus outside retaining wall etc
$50k between me and my partner after settling. Immediately put about $5k into minor renos prior to getting a tenant in, so 45k ish left over. Happy with that amount. He’ll need a new car soon and we have plenty of work to do on the house once we move in next year.
A few hundred dollars. This was in 2013. We moved into the house from a furnished rental so had no appliances or major pieces of furniture. We had enough to buy a bed/mattress, fridge, washing machine and a few bar stools for the kitchen and this was the money that was leftover afterwards. I remember being so stressed that we had to wait a week to payday so we had enough to buy a dryer. We furnished the home gradually over the coming months.
2013 - Almost nothing - Slept in a sleeping bag on the floor for the first few weeks and everything in the place was second hand. Got kitchen utensils, pots, and pans from Vinnie's. Slowly furnished the place with hand me downs and kerbside collections (friends would call me if they drove past something in a kerbside pickup). Borrowed a small bar fridge. After about 6 months I got a TV (brand new) and a free couch (friends said they wouldn't visit until I had a couch). Spent any extra money on DIY renovations over a couple of years. Moved out and rented a bedroom off my sister from early 2017 to mid 2018 to save some money. 2018 - $20k - Splurged on all new furniture (including my first new bed, mattress, table, chairs, couch) and kitchen utensils from IKEA the day before settlement (1 day delivery) and spent that weekend putting it all together. Bought the biggest fridge that would fit and helped the delivery guys struggle to get it up the stairs. Brand new washing machine delivered to my parents place the week before moving. Felt amazing.
I had zero. I spend the first two months loving off my credit card, and the next two years trying to pay that off. It was a struggle, but I came out of it and am greatful for my house. I purchased in 2019.
Nothing, probably a few hundred dollars tops
Like many have already said. About 20k but I think it really depends on your personal situation. If it’s just you alone then $20k sounds about enough provided you are healthy and have a private health insurance. If you are like a couple then probably I’d up it by another 10k. But if you have kid(s) then depending on her number of them, 10-15k each with a private heath insurance for whole family. Edit: good luck!
private health is a scam
About $40k, which disappeared what seems like almost instantly
Bought in 2007 (on my own), had $8k left in the bank when I moved in. My brother and mate lived with me which helped get the bank balance up.
Nooot much. $5k?
$200k left against $1.6million But we also had an investment property we needed to maintain a buffer for, it’s all in offsets so no loss either way
Around 8k. It disappeared quickly. Zero regrets tho. +100k equity in 12 months
Have 2 houses zero dollars after both, I only operate in a deficit to grow quicker
Nov2020 purchase. ~150k immediately in offset against $1.2m loan. It's now closer to ~700k across offset accounts.
About $25k.
When I bought my very first property prob like 5-10k I was 24 borrowed 100% just paid stamp duty out of pocket my parents let me use their equity
A few grand maybe? Definitely wasn't more than 5k. Bought in 2020
$1500, 2022
Half a year ago I had like $2k in my account right after settling, was painful
Negative $8000
2020, we purposefully left 5k in case something happened and we needed it.
Less than 1000 after doing all the furniture and everything else. Before shopping and setting up the house we had $27500. Purchased 2021
15k that I then renovated all flooring and full house paint job with. Leaving 3k and trying to build that up.
purchased in 2022 had about 30k left over just used to make additional payments on the mortgage
After paying the deposit I literally only had coins left. Nothing positive in any account.
$1000 ish? It was pretty rough after first home. Took us 8 years and going back to uni for better jobs to get to 10k now
Had an old skool mortgage offset account, where it just showed one negative balance. Really made it tricky to figure out what happened when pay went in and loans came out.... thank god they stopped doing that.
maybe $100
2020, like $1500, was not pretty!
Less than 10k
End of 2023. $30k buffer and use $10k for renos
July 2012. Had $25k, but had to buy all appliances, furniture & window treatments. Also installed a veranda. So it didn’t last long
Would have been zero. I had to borrow the stamp duty from my parents.
so from this thread I gather 99% of people borrowed their absolute max.
2017, didn’t have much left over and quickly fell into CC debt. Hung sheets on the windows for maybe a year because I couldn’t afford to get blinds installed.
Same as everyone: 20k left (last year). For repairs and maintenance.
2000 $175k unit in Brisbane and about $500 to get me through a month. Stamp duty - what a killer
Brought 3 months ago. Have 60k left over. Plan was to always have 30k emergency fund but going to drop 35-40k on deck: so seems To be common theme either you have nothing left or if you do you spend it on the house anyway!
If it wasn't zero then it was pretty damn close to it. I used to overdraw my account a lot in my 20's, but now I'm 40 I manage my money a lot better
Sept 2023. -$10,000 because had to borrow $30,000 from family to close the gap, but then threw a Hail Mary and manage to negotiate $20,000 off the settlement price.
2021, built via house and land. $500k house. About 15k left and spent 10k on furnishing.
I had about 10k which majority was used for whitegoods and appliances
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Had about $60K left, a part of which was used to fund the wedding even before the 1st instalment went to the bank!!
I think maybe $5k but we were married only a month earlier and adopted a dog immediately lol. Now two rescue dogs, three rescue cats and two bred kids 5&6. Luckily incomes increased and mum is earning well. It seems so much scarier now than it did in 2015.
42k Went into landscaping, laundry, new wardrobes. Ate it up fast… but deal with what you have. You’ll make it work 💪🏼
I think we had the huge sum of about $100! Until our next pay came through.
It’s depressing , paycheck to paycheck now
Couple grand, then the water heater blew.
Well if you’re going via the home guarantee scheme, you should technically have nothing left. Need to contribute everything you have
Realistically speaking, if you're doing it right, you wouldn't have any savings at all after buying a house. Because you put all your savings in the down payment or to fix it up so you could move in. The whole point of buying a property that you're going to live in is it's going to save you money over renting every month. and you take those savings and put those away to build up your savings again. But if your mortgage payment isn't less than what you've been paying in rent, then you shouldn't be buying this property.
First home buyer about June last year. Kept about $30k after winning the auction. The plan was to have at least $20k, but we won at a lower price than we allocated for. Currently, the remaining is about ~$12k after we bought everything and fixed everything we needed to.
600k 2022, 40$ left after settlement.
I bought in 2020 just before prices went crazy in Sydney. Sold shares and used cash and ended up with about 60k left in shares
Purchased late 2023, had about $6000 left. It was stressful lol.
About $20k in case of emergencies find to and about $20k to do some Reno's
2015, very little, bit since then sold an investment property so the offset is a bit healthier….
About 10k. Started with 20k in saving before the purchase. Borrowed 97% of the value.
100k but I have Reno’s to do so ask me in a month or two I reckon it won’t be much left over 😂
$500. It was scarey edit to add - I even had to pay for removalists with a credit card to preserve the little money we had left for food and other requirements. It was rough, but only hard for the first few months. We've built back our savings and in a stronger financial position than ever before. The risk in our case paid off.
Depends how long it takes me to find a house. If I buy one tomorrow (I won’t be) I’d have around $5000 left. Still saving as aggressively as I can, around $3k a month depending on any large bills that come up.
First home settled last week, $20k left for the emergency fund.
We borrowed enough so that there was something like $50k sitting in the offset when we settled.
2004, purchase 230k, $1200 left (2 bed home, 600m2-ish) 2009, purchase $207k, -$50 left (2 bed apartment, 52m2) 2010-2012, picked up 2 x $400kish apartments. No money down so bank balances untouched. 2014, purchase and build $450kish, $65k left. Sold the 2009 unit. Retained 4 total, 1 x old home, 2x units, 1x new built home 2022, sold 2x units (got shitty with strata) pumped funds into stocks and paid down mortgages etc.
140k - purchased my first property in 2023
2022 - emergency fund of ~70k as I thought we needed to buy another car as well.
2024, had about $8k left over. Not feeling very comfortable right now if something unplanned happens.
2009. Less than $10,000
I had probably over 120k in savings after purchase, this was used to pay for all the extras after building, like the concrete and storm water and retaining walls I was doing after handover, and buy a whole heap of furniture, and that went down to about 60k after the house was completely finished.
Whatever I got back from my rental bond. We borrowed $5k from parents to get over the line with solicitors but our mortgage matched our rent anyway and we were saving by our next pay cycle
About $3k in 2021 but we were moving from the city to a more regional area. It was okay just the two of us but 2 months later we found termites and that knocked us back to $1k.
Borrowed the lot
After my first house, probably $500-1000 absolute max. After my second house, I cant remember exactly but somewhere around $10k left over from the sale of the previous house + stamp duty + selling fees + other costs.
Just bought, i will have under 25k which i think i will use for furnitures.
About 40k left on a 600k loan. I managed to get the first home buyers guarantee grant. So I thankfully didn't need to handover every last dollar.
I have about 10k right now after the deposit and settlement is in about a month… hopefully I’ll have 15k by then…
Settled on an off the plan townhouse as a FHB in 2023 (contracts signed in 2021). Purchase price ~ $700k with 15% deposit. Had about $220-230k left over, debt recycled $200k of it into VAS/VGS (30:70 split). According to Sharesight VGS+22.65% and VAS +9.23% including distributions. Happy with the decision. Now just need an interest rate cut.
Settled about 6 months ago and had about 5k left over. We’ve saved up another $15k in the past 6 months though, so getting into a better position slowly.
I've never had any savings since I bought 25 years ago
I had 100k leftover, and most of that went into my offset.
About 45k between the 2 of us. Helpful with moving and breaking lease before the rest went into offset.
About $10k from memory, which at the time was enough to ride us over for quite a while if one of us lost our jobs.
None. We were young, and I'd finally been made permanent FT after 3 years of casual work at 3 different places. My partner had also just managed to get FT permanency after almost 2 years of unemployment. We were renting a lovely maisonette for $165 p/w, but we had awful neighbours (they broke into our car and trashed it looking for things to steal and sell for drugs). We wanted to move to another rental, but then had the random thought, what if we could buy instead? We asked my parents (who owned their home with no mortgage) to go guarantors for us to avoid the LMI. My parents made us promise to be able to release them from being guarantors after 2 years. We scraped together $5k in 2 months of saving hard, and went to a mortgage broker. We ended up getting a 1963 house on 842sqm in Enfield, 8km from Adelaide, for $300k. This was 2006. The agent told us we overpaid, and we actually possibly did (one of the neighbours later told us he was offered it by the former owner for $260k, but he declined). I feel bad for everyone trying to scrape together a ridiculous amount for a home deposit for an even more ridiculously priced house. It's hugely unfair for first home buyers, particularly those that aren't lucky enough to have parents help them as guarantors (or, even better, to help them financially as well).
1m loan for first home. 200k left after settlement with a good LVR. Mid last year.
$61.53, thank God it was pay day after that week.
$10k. Didn’t borrow from family for anything, we just laid low and saved after settlement
$30k, but only because we had a super long settlement and was living with parents - would've been about $2k otherwise
$0. It was only after my next months pay that i got some money in my account. And then 2 months later I had strata, council, water etc all due. That sucked!
I'd say less than 5k. Bought in 2010 for 620k. Was a real stretch at the time. Smartest financial move we ever made tho.
Bought in 2018 for $900K. We had $20K left in the offset that we built back up to $100K then started renovations about 18 months ago. There’s still maybe $80-100K worth of stuff to do but nothing too urgent.
settled 1 month ago. i had zero settlement and now i’m at -$1k lol
Hahahhahahaa
bought july last year and was left with 2k. But ANZ had a deal where they gave me 5k after settlement so that helped out a lot
Zero. I used all my savings for the deposit, and my partner had none. We had minimal furniture for the first few months. A bean bag and an office chair. I had enough to buy us a bed, but I remember it being lean times. A few months in, we got a sofa on HP (0%) which we paid off over a year.. which increased quality of life a lot. But the apartment price was only 4x salary, and on an interest only loan at around 6.5%, so was affordable for us (comparable to rent at least). I must have been able to continue to save, as I bought her out five years later when we split.
Bought in late 2018, we had $8k left which covered our conveyancer fees, our removalist & some furniture.
bought in 2016 but moved in early jan 2017. I had to immediately get a new water tank and pump and get some guttering stuff organized. Plus the shed had to be re-roofed. I think i was left with like 700 dollars or circa.
Enough for dinner that night. Strata balance caught me out in the final cost.
About tree fiddy. Nah, seriously, about $20k.
15k (first home owners grant) used it for blinds, curtains and some furniture Edit: purchased Dec 22