How does one buy a house exactly?
Recently the average cost of buying a house in Melbourne has been its highest ever - $420,000.
Husband and I aren't the best of savers*, but we are trying. We figure it will probably take us at least a couple of years to save a deposit.
Out of interest I thought I'd have a play on some on-line home loan calculators. Which was a sad mistake. We'll probably end up with some ridiculously lengthy loan which means that we'll end up paying $950k by the end of a $350k loan. That is soooo much interest!!! And the repayments aren't likely to leave us with much cashola - but is it worth it just to own a house?
Then, out of some sort of need to torture myself, I jumped onto Domain to see what house prices were around the place. I don't think I could bring myself to live further out than we already do, but price may prohibit that choice. Why oh why do the pretty ones cost so much money?
I know people buy houses, but how exactly does one do that?
And how do people afford kids into that bargain as well? We've always thought we'd like to own our own house before having kidlets, but I may be retiring before that happens.
Current plan is to make husband and I the sole beneficiaries of everyone we know and then start bopping them on the head. But then who would we invite to our house warming?
If anyone is feeling philanthropic I'm happy to give you my banking details. Think of me as an investment. I can be very entertaining and I'm sure you will feel your money is well invested. Plus I'll happily have a cup of tea with you at ANY TIME. I'll even throw two small dogs into the bargain... although perhaps that isn't a selling point... I'll let you, um, drive my car?
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*Problem of living in Melbourne is that there is too much fun shopping!
Husband and I aren't the best of savers*, but we are trying. We figure it will probably take us at least a couple of years to save a deposit.
Out of interest I thought I'd have a play on some on-line home loan calculators. Which was a sad mistake. We'll probably end up with some ridiculously lengthy loan which means that we'll end up paying $950k by the end of a $350k loan. That is soooo much interest!!! And the repayments aren't likely to leave us with much cashola - but is it worth it just to own a house?
Then, out of some sort of need to torture myself, I jumped onto Domain to see what house prices were around the place. I don't think I could bring myself to live further out than we already do, but price may prohibit that choice. Why oh why do the pretty ones cost so much money?
I know people buy houses, but how exactly does one do that?
And how do people afford kids into that bargain as well? We've always thought we'd like to own our own house before having kidlets, but I may be retiring before that happens.
Current plan is to make husband and I the sole beneficiaries of everyone we know and then start bopping them on the head. But then who would we invite to our house warming?
If anyone is feeling philanthropic I'm happy to give you my banking details. Think of me as an investment. I can be very entertaining and I'm sure you will feel your money is well invested. Plus I'll happily have a cup of tea with you at ANY TIME. I'll even throw two small dogs into the bargain... although perhaps that isn't a selling point... I'll let you, um, drive my car?
-----------------
*Problem of living in Melbourne is that there is too much fun shopping!
posted by Miff at
12:13 pm
1 Comments:
There is different ideas that you can try, get a loan, both pay off as mucha s posible for the first 5 to 10 years, and I mean live as cheap as possible for those years.
Or use one wage to live off and the other (highest wage) to pay the loan.
Doing the maths you may be able to pay a loan of that much in 10-12 years.
You may get hit with an early finish fee, but it adds at least a little room for creativity with a loan.
Look around on the net, go see a morgage consultant and get as much information as you can because those loan caculators are scary.
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Anonymous, at 8:06 pm
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