I am 28 and my boyfriend is 26. We have both started working in a Fly-In Fly-Out job at a mining camp with a combined annual salary of $200,000. As we are on a 4week on, 1 week off roster, we have chosen not to rent or buy a home and simply use our week off to travel or visit family. Our main goal is to save at least $400,000 over the next few years, buy a house with cash and start a family. We are aware of the tax benefits of having an investment property but it seems more appealing to watch our money grow in a bank account than go toward a mortgage. We are also aware of the option of salary sacrificing, however we have not done this yet. Are we doing the right thing by keeping our money in a high-interest bank account and buying a house outright instead of investing? Should we consider salary sacrificing or put all of our money toward our house?
Thanks for any advice.