Money magazine Comments - Ask Paul: I'm renting in my 50s - should I buy a property? Fearing financial stress in retirement, single mum Anna is considering buying a home in her 50s. What does Paul Clitheroe think of her plan? https://www.moneymag.com.au/feed/latest?story=179794879 Wed, 27 Apr 2022 09:19:38 +1000 Wed, 27 Apr 2022 09:19:38 +1000 en-AU Copyright 2026 Money magazine 5 Money magazine Comments - Ask Paul: I'm renting in my 50s - should I buy a property? https://media.moneymag.com.au/prod/media/library/Money_Mag/Logo/Logo_401x133.png Comment by Money magazine ()

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]]> Money magazine () Wed, 27 Apr 2022 09:19:38 +1000 Comment by Sally Hart ()

How with only $50,000 deposit can you get pre-approval for $650,000.

Both me and my partner are in our mid 50's, no assets accept a vehicle I own outright and $50'000 in savings, he has $150,000 in Super & I have $120,000 and we have no debts and both have full-time employment. We really want to own property but thought in your 50's it would be difficult.

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]]> Sally Hart () Fri, 29 Apr 2022 07:57:08 +1000 Comment by Money magazine ()

Hi Sally,

Thanks for your comment.

It's not clear from what you've written whether or not you've applied for a home loan, but a mortgage broker may be helpful given your circumstances.

Also, here's an earlier question Paul Clitheroe answered on buying a home later in life.

https://www.moneymag.com.au/ask-paul-is-it-too-late-to-buy-a-house

Good luck!

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]]> Money magazine () Fri, 29 Apr 2022 10:12:02 +1000