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I'm Buyin A House!

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I'm Buyin A House!

Postby CrimsonThunder » Thu Apr 23, 2009 10:44 pm

Just had the inspection this morning, going to see if i can get my loan accepted tomorrow morning.

*crosses fingers*

I can't wait to finally have my own house! And I really can't wait to make it my own, by changing it to how I want it. :)
- Stevo
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Re: I'm Buyin A House!

Postby Shalimar » Fri Apr 24, 2009 9:00 am

Well done CT, whereabouts are you looking?
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CW: 62 kgs-Hit goal 12 September 2009.
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Re: I'm Buyin A House!

Postby court » Fri Apr 24, 2009 11:00 am

Oh nice work CT! I just bought one a few weeks ago! Move in on 22nd May! I cant wait to hamemr into the walls either :P
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Re: I'm Buyin A House!

Postby downsicingsandy » Fri Apr 24, 2009 11:30 am

CONGRATULATIONS - There is no better feeling.

We actually settle at 12.15pm today, and are so excited!!!

We have been renting the property for the past 5 years, and the first thing we will do - PUT A NAIL IN THE WALL!!!

Best of luck with it!!!
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Re: I'm Buyin A House!

Postby CrimsonThunder » Sat Apr 25, 2009 3:03 am

Shalimar wrote:Well done CT, whereabouts are you looking?

In Whyalla. :P

Good luck with everyone else here. :)

And I'm pretty sure theres something going around that the FHOG is going to be bigger now? I hope not....
- Stevo
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Re: I'm Buyin A House!

Postby Shalimar » Sat Apr 25, 2009 10:50 am

That's great CT, well done :D .

I thought I heard they where giving the fhog the flick after June, I could be wrong though.
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Re: I'm Buyin A House!

Postby Jisgone » Sat Apr 25, 2009 5:06 pm

in WA its getting the flick after june, the tv is going nuts with people trying to cash in on the first home owners rushing to buy before june 30
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Re: I'm Buyin A House!

Postby milkyway » Sat Apr 25, 2009 6:25 pm

Great news! :D Any progress?
Just keep moving! And don't be lazy...
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CW: 71.1kg - 3/5/09
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Re: I'm Buyin A House!

Postby CrimsonThunder » Sun Apr 26, 2009 12:51 pm

milkyway wrote:Great news! :D Any progress?

Yep just gotta bring my work hours into Homestart then they accept it and I can then put my offer down! (after the building inspection and valuation)
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Re: I'm Buyin A House!

Postby Fireball » Thu Apr 30, 2009 12:02 am

Congratulations.
Very exciting news.

Since this is your first home I'd like to give you a tip. Please don't take this as an insult if you know thas already. When people get their first home, many people don't realise how little they are paying off the capital in the first few years, i.e. Most of the repayments are put towards paying the interest so very little comes off the value of the original loan. It is worth checking out exactly how much interest is being added on and how much is coming off the loan each month and work out what that will be over a year. You may find by paying only a very small sum extra you are doubling the money paid off the capital. Now, while interest rates are low is a great time to try to pay off a bit extra so when they go up, which eventually they will, you're not stuck with a huge loan and high repayments.

Good luck. Hope all goes well for you.
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"Unknowingly, we plow the dust of the stars, blown about us by the wind, and drink the universe in a glass of rain."
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Re: I'm Buyin A House!

Postby Fireball » Thu Apr 30, 2009 12:03 am

Congratulations.
Very exciting news.

Since this is your first home I'd like to give you a tip. Please don't take this as an insult if you know thas already. When people get their first home, many people don't realise how little they are paying off the capital in the first few years, i.e. Most of the repayments are put towards paying the interest so very little comes off the value of the original loan. It is worth checking out exactly how much interest is being added on and how much is coming off the loan each month and work out what that will be over a year. You may find by paying only a very small sum extra each payment you are doubling the money paid off the capital at the end of the year. Now, while interest rates are low is a great time to try to pay off a bit extra so when they go up, which eventually they will, you're not stuck with a huge loan and high repayments.

Good luck. Hope all goes well for you.
Image

"Unknowingly, we plow the dust of the stars, blown about us by the wind, and drink the universe in a glass of rain."
Ihab Hassan
Fireball
 
Posts: 687
Joined: Mon Jun 11, 2007 5:36 am
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