Land And/or House Buying/building...

[scandyflick]

Spotted a house in salisbury north, faily run down, with a sign out the front saying "first $10,000 gets my 2 bedroom house". So im seeing if i can get the cash today, its worth the resale!

ya dont say...

... where abouts?

*calls bank*

[skyhighR33]

he mustve won lotto or cant give to rats

[Nightcrawler]

^^^^ or far more likely he is renting the house and will 'sell' it to some sucker who gives him $10k and he will disappear into the sunset. If it seems to good to be true, then it (almost) always is.

.... bear in mind we're fixed rate and probably only 9 months into a 5 year lock in

Who on earth advised you to take a fixed rate 9 months ago? Everyone knew the rates were going to fall a minimum of 2% in the coming months, and have obviously now fallen significantly more than that.

Generally if you want to break out of a fixed rate mortgage, the bank charge you the difference between the fixed rate you were supposed to pay, and the current variable rate, compounded over the fixed period.

[Boof]

^^^^ or far more likely he is renting the house and will 'sell' it to some sucker who gives him $10k and he will disappear into the sunset. If it seems to good to be true, then it (almost) always is.

Who on earth advised you to take a fixed rate 9 months ago? Everyone knew the rates were going to fall a minimum of 2% in the coming months, and have obviously now fallen significantly more than that.

Generally if you want to break out of a fixed rate mortgage, the bank charge you the difference between the fixed rate you were supposed to pay, and the current variable rate, compounded over the fixed period.

By some people WHO should've known better but obviously DIDN'T know better...Yes we're not very happy about it either but what can you do?? Least we know exactly what our repayments are going to be for the next 4 odd years which is rather helpful at the moment with the wife all but 3 weeks away from bringing junior into this world!

[Nightcrawler]

Dang that sucks Shane .... bastards. I bet they get a trailing commission off your fixed loan too - the banks reward people who set up deals like that .... they will get a trailing commission for the life of your loan.

But yeah, at least it is good to have a fixed amount to pay, so you know where you stand at any given point.

Best of luck with the new bubs .... mine has just turned 15 months and is a real joy - he is getting very interesting now learning new things every single day and starting to talk and all the fun stuff.

Enjoy.

[Boof]

Dang that sucks Shane .... bastards. I bet they get a trailing commission off your fixed loan too - the banks reward people who set up deals like that .... they will get a trailing commission for the life of your loan.

But yeah, at least it is good to have a fixed amount to pay, so you know where you stand at any given point.

Best of luck with the new bubs .... mine has just turned 15 months and is a real joy - he is getting very interesting now learning new things every single day and starting to talk and all the fun stuff.

Enjoy.

Yer well the worst part about it was the person who we got the home loan off of was actually my wife's Aunty and she was one of them telling us to fix it! So suffice to say never doing buisness with her again my strong tip for today! But even so we had a few morgatge brokers out before we ended up going with her and they all said to fix it so meh *shrugs* who do you beleive???

Yer it is a fixed amount but kinda nags at me because i know if i held out longer i'd be paying way less now way the cookie crumbles i guess!!!

Thanks Andrew! Can't wait Feels like its just dragging on and on and on.....Her cousin had a little boy 4 weeks ago and he's changed so much in that time! They grow so quick!!

Hurry up child!!!!!!! lol

[Madaz]

I’m just waiting on approval for a House Loan again through Commonwealth Bank, On my Wage I’ve been approved before for $227,000 & I earn well & truly below 60K, But asking a little bit more this time so I'll know by the end of the week but if so I’ll be going through Hickinbotham to build this time, Not Devine, Any feedback on Hickinbotham would be appreciated if anyone’s had any past experiences with them…

just got off the phone to an engineering mate and he said both are OK the problems you get with most homes are project managers not the actual builder

[mr_rbman]

I may aswell add my 2 cents as my partner and i have been in our house for 2 years now and i found any info helpful when we were looking.

We fixed 75% of our loan at 7.39% 2 years ago for three years, we'll see what the interest rates are like in 11 months time and may look to fix the whole loan as i want to hopefully by another property early next year and kept the other 25% of it variable. The reason we kept 25% of it variable was so that you have the option of redrawing (just incase) we have savings so unless something goes drastically wrong we wont be touching it though of course.

We bought a house 18 months old in Seaford Rise as we couldn't afford to build and rent at the same time, i'm glad though that we bought established as our good friends built and i wouldn't have wanted to put in all the hard work they did, they'd work hard all week and then spend the weekends working on the house, good for some but we bought the house at 21 and i still wanted to enjoy life while we're young, hehe!

My advice is get a house, nothing beats the feeling the first night u sleep in your own house, yes i still remember it. haha!

[mid life crisis]

[My advice is get a house, nothing beats the feeling the first night u sleep in your own house, yes i still remember it. haha!

mate the only thing that feels better is making ya last payment and it's finany yours at last and not the banks

:-)

cheers dean

[SLED]

here, here......even if you purchase a 1 bedroom dump as your 1st home........at least you can say it's yours & not have a landlord to worry about.

[S13_DriftR]

here, here......even if you purchase a 1 bedroom dump as your 1st home........at least you can say it's yours & not have a landlord to worry about.

This is true

"I own a tree Haha"