Nicole Haddow

Renovated, obviously.

It wasn't renovating.

That didn't happen.

I worked out that with $25,000 to $30,000, I could actually buy an entry-level investment within a 12-month period.

Now, most people don't realise you can do that, and I'm probably going to say something that will be controversial as far as the rest of the panel is concerned.

I didn't have a 20% deposit because it was more important to me to enter the market than to save my 20% deposit.

I use Lenders Mortgage Insurance.

people will say, lenders mortgage insurance, waste of money.

I say, not if you use it properly.

So in my case, my lenders mortgage insurance was going to be about $70,000.

Sorry, $70,000, that would be ridiculous.

$7,000.

That $7,000 is built into the cost of the lifetime of your loan.

It's actually a tiny, tiny portion of the amount that you're going to spend each month.

Had I waited 12 months...

to get that twenty percent my property would have been worth about sixty thousand more so my property went up in value about sixty thousand dollars in the first one to two years which i was very very lucky to have that experience so my question is once you've done your research can you look at how you can get into the market sooner

and there's always risk, but do you have the confidence to know that you're buying in a growing area, that the LMI is going to quickly be cancelled out by the capital growth?

Something to think about.

There are some questions around what you can actually afford.

So I knew that... This is my apartment, by the way.