The Buyer


GQ (Australia) - - GQ INC. -

“I bought a small apart­ment with my wife in Hawthorn, Mel­bourne, when I was 25. We chose the area we wanted to live in and had to sac­ri­fice on space. I was a grad­u­ate, she was a full-time stu­dent and we’d just got­ten mar­ried. We saved a lot of the de­posit by liv­ing with par­ents be­fore get­ting mar­ried, and af­ter­wards, for six months. At the time, re­pay­ments were $400 a week, in­stead of $300 we’d have paid on rent, so the dif­fer­ence wasn’t too big. The first home­buyer’s grant ba­si­cally paid our stamp duty. Plus, buy­ing that close to the city seemed to be a sound in­vest­ment. Buy­ing is great for sta­bil­ity if you’re plan­ning to be in the area long-term. If you have kids go­ing to the lo­cal school, you don’t want them to have to move if you get booted out of your rental place. I’m glad we en­tered the mar­ket when we did, even if we started small.”

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