u/AussieTravelGal66

We are first home buyers looking to purchase a free standing home in the Hawkesbury Region under $1,000,000. Everything we look at needs significant work, but agents still seem very bullish, trying to convince us that these tiny, crappy homes are worth over $1m. Just a few weeks ago they were selling these dog boxes for $995,000 which blows my mind.

Do you think prices will drop and should we wait and see? We are in a very competitive marketplace it seems and our price point is very sensitive. Any advice or thoughts from property guru's. TIA.

I want to help my daughter and partner buy a home in NSW. He has bought before with his ex so FHOG is not an option. They have about $100,000k saved and are looking at at $900,000 property. Obviously this is only 90% LVR so they would have to pay LMI. I am trying to figure out how best to help them. I can't go normal guarantor using my home equity as my partner is not happy to do so, but I do have a lump sum I could use. Has anyone come across the Westpac Family Security Guarantee whereby I can put down a lump sum, say $100,000 in a term deposit, enough to get them under the 80% LVR. Once they property grows enough I can get my money back to do with what I want and in the interim I earn the interest. Sounds like a great idea, and is more beneficial to me than gifting them money I won't get back, but am I missing any pitfalls? Is this a common scenario? Or would I be better just paying their LMI for them upfront as some assistance? Any brokers think one way is better than another please? Thanks for your time.