Why would you be paying rent when you could be paying off your own property? Do the sums and you will be surprised at how affordable it is to buy your own home.
Alternatively, why not let someone else pay it off. If you have ever considered investing, 2/17 Doongara Street is a low cost entry into the market.
Based on the following assumptions, for as little as a $5,450 deposit your weekly repayment would be $139.00 over 30 years (calculated at 5% interest rate)
Potential rental income $180.00 per week.
Now in addition to sensational value, you will enjoy large open plan design with both bedrooms double size.
There is a generous private courtyard plus enclosed entrance perfect for use as an all year round entertainment area.
The property also includes a covered car space.
Conveniently located within walking distance to the CBD, schools and shopping, 2/17 Doongara Street is a fantastic opportunity.
** Please refer to property brochure for full disclosure on suggested repayments and calculations.
Repayment Summary for $103,550 Loan
Loan Details
Loan Amount: $103,550
Term: 30 Years
Interest Only: No
Interest Rate: 5.00%
Repayments
Weekly: $138.97*
Fortnightly: $277.94**
Monthly: $555.88
Additional Figures
Total Paid: $200,115.22
Total Interest: $96,565.22
If Rates Rise
Rate of 6.00% - $620.83 pm
Rate of 7.00% - $688.92 pm
Rate of 8.00% - $759.81 pm
*Most lenders use a simple method to calculate weekly payments (monthly payment divided by 4 = weekly payment). This "simple" method assumes 48 weeks in a year, so you end up making the equivalent of 4 extra payments, which comes straight off principal.
**Most lenders use a simple method to calculate fortnightly repayments (monthly payment divided by 2 = fortnightly amount). This "simple" method assumes 24 fortnights in a year, so you end up making the equivalent of 2 extra payments, which comes straight off principal.
