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cobran20

Gosford now the most affordable spot in Greater Sydney for first home buyers

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I think this sums up well the current situation for first home owners in Sydney - live in the central coast and waste around 4 hours/day commuting to/from Sydney

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Correct....on roads and interchanges never designed for daily commuter runs.     And people at work refer to you as a Central Coaster because you regularly arrive to work late and try to leave a little early.    

 

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13 hours ago, Dose said:

Correct....on roads and interchanges never designed for daily commuter runs.     And people at work refer to you as a Central Coaster because you regularly arrive to work late and try to leave a little early.    

 

Same for anybody living in the 'Gong and Blue Mountains. You basically have to give up on life, except for the weekend.

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I rent in a nice suburb. Very low crime rates, short-ish commute to the CBD (work), generally educated and polite neighbours, lots of options for extra curricular activities not too far away.

Now I could take up a mortgage in the favelas where crime rates are higher, people are more stressed out servicing mortgages and having long commutes, and I lose a few hours a day which I currently spend with family. I just don't see the point. And with gross margins on rentals 3% or lower it's relatively affordable living for what you get (even though I believe it's still hideously expensive to rent).

As annoying as dealing with real estate agencies, notices to vacate, wife wanting a "place of our own" conversations, etc. I still don't see a large mortgage on what is likely to be a poorly built home as an enticing value proposition.

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