Sarah and her husband are teachers in Toongabbie in Western Sydney. They make a solid combined income of $196,000 per year. However, with the Sydney housing market being notoriously expensive, they're wondering if they can afford to buy a home. Today, we're going to take a deep dive into their finances, savings, and the local market to see if homeownership is a possibility!

We'll cover everything you need to know about borrowing capacity, the importance of a deposit, the role of the First Home Guarantee scheme, and how to find those hidden, more affordable gems within the Sydney market. And remember, the market changes all the time, so it's important to get up-to-date information. Let's jump in!

00:00 Can 2 Teachers Afford A Home In Sydney?!
00:38 What is borrowing capacity
03:25 How much bank deposit do you need?
04:40 How a bank calculates your home purchase value
05:21 Are there houses in Sydney under $900,000?
06:58 Pros and cons of buying a unit
07:25 Should I get a pre-approval?
08:00 Conclusion

Calculators mentioned in the video:
Stamp duty https://www.huntergalloway.com.au/sta...
Borrowing capacity https://www.huntergalloway.com.au/mor...
Sydney median house price reference https://www.smh.com.au/property/news/...

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Mortgage Broker Brisbane - Hunter Galloway
Head Office: 3 Latrobe Tce Paddington QLD 4064
PO Box 841, Paddington QLD 4064
CBD Office: Level 20, 300 Queen Street Brisbane, QLD 4000

Hunter Galloway are an Award Winning Mortgage Broker based in Brisbane. We help clients from our local area, Australia, and all over the world. We believe buying a home should be stress-free and uncomplicated, and we will work for you to make your dreams become reality.

Next steps and settling your first home

Our team here at Hunter Galloway is here to help you buy a home in Brisbane. Nathan & Joshua Vecchio are Senior Mortgage brokers who specialise in making your home journey easy.

Unlike other mortgage brokers who are just one person operators, we have an entire team of experts to help make your home loan journey as simple as possible.

If you want to get started, please get in touch and we can book a time that suits you – either a phone call information session or a face to face meeting (which doesn’t cost anything for you).

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