First property buy with 80k Deposit in Canberra

Hi guys,

We have been saving for past 7 months and have managed to save 80k in our account. Me and my wife no children( not planning for another 4 years). We average about 10K saving each month. Our household income is about $180k. We don’t eat out much and have good spending habits. One of my good friend said he is going to help us (20k) interest free for 1 year. So, We have 100k for deposit right now.

Now, We are on our hunt for property. We have pre-approval of 850k. Planning to do 10% deposit plus 10k extra for solicitor fees plus anything else comes in. No stamp duty for us as it’s under 1mil.

Just wanted to ask for first hand experience. How hard will it be to service this loan if we are to go and buy property of 950k.

There is this one property we really like and is in auction this weekend. Any suggestions? Have done inspection plus also asked solicitor for opinions( hasnt got back to us yet) This is really overwhelming for us to own first property and I am really worried about how much extra expenses can I expect after owning home.

Any help or any suggestion will be highly appreciated.

Thank you

TLDR; FHB on 180K household income (no kids) with 100k depo wanting to buy property in canberra with 10% deposit. Suggestion and advice on upcoming expenses and if it is doable