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On a $60,000 gross salary with minimal debts and average expenses, your estimated borrowing power is approximately $295,000–$355,000. The exact amount depends on:Your living expenses (HEM benchmark or declared, whichever is higher)Existing debts (credit cards, car loans, HECS/HEL
Use our Borrowing Power Calculator for a personalised estimate based on your income, debts, and expenses.
Yes, particularly in regional areas and outer suburbs. With borrowing power of $295K–$355K plus a deposit, you can access properties in the $330K–$440K range. The First Home Guarantee scheme allows 5% deposits with no LMI, further improving accessibility.
Yes. At $60,000, HECS repayments are approximately $2,400/year ($200/month), reducing your net income and borrowing capacity by roughly $25,000–$30,000.
Not necessarily. If property prices in your target area are rising, buying sooner locks in a lower purchase price. You can always increase repayments or refinance when your income grows.
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