Can I realistically buy a $650k property in my situation? What should I change to make it possible?
Hi everyone,
Just wanted to get some opinions on whether buying around the $650k mark is realistic for me in the current market, and what I could improve to make it happen sooner.
I’m a 27-year-old single male working as a Registered Nurse with NSW Health. No dependents. I’d be using the First Home Owner schemes/grants available.
Current situation:
RN income: around $110k/year including overtime
Additional Uber income: roughly $10k–15k/year
Savings for deposit: about $35k
Salary sacrificed around $10k into super this year
Car loan: $1,000/month repayments, about $25k remaining
(Car is also used for Uber driving, but I could refinance to lower repayments if needed)
Credit card: $12k limit, currently owing around $3k
Mainly trying to understand:
Whether banks would realistically lend close to $650k in my position
How much the car loan and credit card limit would affect borrowing power
Whether I should focus on increasing savings first or paying down debt
Any strategies that helped other nurses/first home buyers get approved recently
Happy to hear honest opinions or experiences from brokers or people in similar situations.
Thanks heaps for your time.