skills Developments

Investment Time

At the moment here in Queensland, Australia, there is a bonus government incentive for first home buyers. If you build a home, you get a bonus $21k to use towards your home loan or set up costs, or if you buy an established home, you get a bonus $14k. Not only is this a massive incentive to buy a home, but our interest rates have started to drop after being at an extreme high for a long time.

So this puts me in a difficult place. It is the perfect time to buy a home, but I just got back from an overseas trip and don't have any savings behind me. I had the sudden brain waive that I might as well just buy now. The bonus ends in June so there isn't a lot of time. Since making that decision about 3 weeks ago, I have managed to save up $4000 from left over holiday spending money and savings since I've been back. I think this is a good start and at the very least I should be able to cover the set up fees for the home loan and other house costs with my partners help.

It is very exciting though. Going back a year, I owned a bomb of a car. Since then I own more than half of a brand new car and maybe will soon be a home owner too.