First Home Buyer Tips!

If you’re young and dumb and always wanted to run to the streets ’cause you though that was where it was at OR are a Gen Y’er, living in Sydney, and trying to buy your first home, then we’re in the same rowboat (paddling and getting nowhere). The Mrs and I have been pretty caught up in the buzz and excitement of property this last quarter of 2013. Wow oh wow has it been a rollercoaster. I just wanted to give a few tips to any other potential first home buyers out there so that they can avoid some of the traps and pitfalls we’ve experienced:

  • Don’t be fooled by the FHOG. Sure, $15,000 is quite a bit of money BUT when you’re buying brand new (say ~$550k) keep in mind that this “grant” makes up 2% of the value of your house.
  • Don’t skim on Building and Pest Inspection Reports. These might cost you a few hundred dollars but could save you thousands of dollars, migraines, heartache, stress, health problems, diabetes etc etc.
  • Save, Save, Save. The biggest hurdle for any first purchaser is the initial deposit. You’ll most likely be paying LMI (lenders mortgage insurance) if you don’t have at least a 20% deposit (typically over $100k). I know that some people in our generation have the opportunity to save this much before they turn 25 but for the majority of us, this just isn’t possible.
  • If you’re young and not looking to buy for a few years, open a First Home Savers Account. BUT don’t put all your eggs in one basket. Put in at least $6,000 a year to reap the benefits of a $1,000 gov’t contribution and save the rest in your everyday savings account. This way you can use the liquid cash if you need and get the maximum return from the government. At the end of your account period (4 years) you would’ve received a free $4,000 from your friends in ACT.
  • The LMI you pay grows exponentially from borrowing 80% going up to 100%. So don’t borrow more than you can chew. Do your best to borrow less than 90% because anything higher is going to cost you some serious money.
  • If you’ve found a place you like, talk to your potential neighbors. Don’t be anti. Seriously. You may find out insightful information like who the previous owners were, whether the house is haunted etc.
  • Don’t feel pressured to buy just because interest rates are at an all time low. It’s a sellers market right now and yes our generation is being priced out BUT just keep saving.

If I think of anything else I’ll add a new post. Good luck to anyone and everyone in the same boat. Let’s paddle together.

Disclaimer: I’m not a financial expert, mortgage broker, money guru etc. I’m just your friendly, neighborhood spiderma…. IT guy ๐Ÿ™‚

Know what your kids are up to?

It’s funny (not really) how some parents have no idea what they’re kids are up to on the internet. Facebook, Youtube, Twitter, Instagram (selfies anyone?). Sure no problem. Some parents might walk by to double check that everything on the monitor looks legit (alt+tab) and some might even check their kids’ browser history just to make sure. Wow, no bad sites are showing up, that must mean my child’s doing all their homework. All smiles, right?

NO.

Incognito, Tor, VPN, Proxies… Woah. Who knows what else these kids are up to these days. I know that parents want to trust their children and believe that their little angel is using the internet for it’s intended purpose – access to an abundant amount of knowledge and information. Unfortunately, the internet can be a dark and scary place full of so many unknowns and risks that being an ignorant guardian will not cut it.

What are the risks?

  • Identity theft
  • Personal information leaked
  • Infected computers
  • De-sensitivity
  • Mental trauma
  • Distractions, distractions, distractions

My experience in the industry has led me to believe that there are too many people carelessly “sharing” information. Have you ever seen a friend setup a Facebook event requesting for “new numbers because they lost their phone”? Sometimes they forget to put their event on private *shakes head* and woop-dee-doo, their mobile number is now exposed as well as other numbers your friends may have posted. How about derm kidsย that unknowingly thrive on likes, hearts, retweets. I’ve seen too many instances where these same people are subjects of abuse and are prone to depression/anxiety because they seek to attain approval from anonymous “friends”. Hashtagging every #instagood possible word to reach all types of people around the world to accumulate the MOST LIKES POSSIBLE is what defines you in Generation “i“!

Some questions you should really consider before sharing anything online

  • How many people can see your Facebook profile picture, twitter posts, youtube videos?
  • What type of people can see these posts? Employers, Corporations, Paedophiles, Family, Workmates?
  • What can these people do with this information? Right click, save picture as, photoshop, post…
  • You probably think, who the heck would care anyway? Believe me, there are people out there that do care.

The information is no longer yours once it’s on the internet. As soon as it’s online, it’s there for the taking.

Quickie Intro

I’m a 23 year old IT professional (oooooh :D) just wanting to help out with some of the knowledge and experience I’ve gained over the 5 years I’ve been in the industry. I’ve relied on my pal google to help me throughout the years and here’s hoping that I can help others out there too!

I’ll do my best to make computer stuffs sound interesting so that you aren’t yawning *yawwwwn* while reading these posts, but it won’t be all IT related. I’ll be putting random things that I find interesting up as well so you can either love it or hate it ๐Ÿ™‚

Enjoy