First Home Help
I am a 26 year old single nurse still living with my parents and I’m looking to buy my first apartment/property.
I have a total savings of a little over $120,000 and no current dept/loans, no dependants, a credit card I pay off monthly (with a limit of $4800 which I have never met). My primary job is a registered nurse in a local hospital and I have a secondary job in retail (though debating on quitting secondary job as it’s $10+ less than nursing and I could pick overtime instead):
• FY24-25 Primary: $99,844.22
• FY24-25 Secondary: $14,038.10
My monthly income averages at a bit over $7000 and fluctuates a lot depending on what shifts I work (days vs nights, weekends, holidays). My current expenses fluctuate a lot depending how social I am and how much uber eats I buy (why im poor) but average $3000 (I could definitely save more). Currently no salary sacrificing in place.
I’m looking to buy likely an apartment (hopefully 2 bedroom) in the lower north short to northern beaches areas (expensive area I know but I have too much family and friends here to move).
Just trying to understand what I can do with this? I’m not very financially intelligent... I understand first home buyers is an option but I have heard mixed messages. Initial plan was to maybe buy, stay home and rent it out to help pay it off for a year or so but as I’ve grown older… I would very much like to move out!
Any and all advice is appreciated!!