As the RBA lifted the official interest rate on Tuesday, one regional New South Wales couple said the dream of building a home has turned into a financial “hustle” they no longer want to maintain.
After the pair, 25 and 26, settled on land in September 2022, rising rates and cost of building materials decimated their initial budget.
“If we had known how much our repayments would end up, we never would have bought,” said the 25-year-old woman, who did not wish to be named.
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While they can currently cover their bills and groceries, the financial pressure has forced them to put major life milestones, like starting a family, on indefinite hold.
“My partner and I were expecting further rate decreases following the last one or two decreases we’ve had, so the current increase is definitely d
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