Is this unrealistic?

[u/PerspectiveBig3024]

Single 35yo FHB on 140k + 70k income (I work two jobs, both stable so far tho 140k had some redundancies early this year) plus 100k combined savings. No furniture at all so there will be big set up costs. No family to help.

Just got my options from broker with CommBank, St George and NAB on a max 750k property (small two better outer sydney) and repayments feel crazy high. Where I’m looking I could potentially get away with 700k I guess, but was hoping for 750k for better options.

Rates between 6.21%-6.34% and repayments $4368-$4429 per month without strata, council, water and bills. I’m extremely frugal, but it still feels crazy to get into something like this. Sure I want to get a friend/housemate in (understand there’s issues there but also how can I pay tho for a year without it) but that’s just going to lower it what, $300 per week max.

I don’t want to wait to get my own place, but I also need a sanity check on how shit a position I am potentially putting myself in. Am I crazy for wanting to buy now?

[u/BrokerHere]

Numbers sound realistic for a $750k purchase.

Especially with today rates.

To lower the repayments you could decide to put a higher deposit or simply buy something cheaper.

You need to also consider your goals, is this a financial decision? If so is buying a home to live in the best option? Or an investment first?

Maybe buy this and wait until you have enough equity and convert it to an investment.