100th Post

This is my 100th post on here and I have some news....

I JUST BOUGHT A HOUSE :) :)

I am very excited, in case you couldn't tell!!!!!!!!!!!!

Apparently I Have No Virtue

They say patience is a virtue. I must be completely without virtue.

I know buying a house is supposed to be a bit of a drawn out process, but I just want it to be DONE! I want to move in and live in my pretty new home :)

Good News

Well, some good news.

My mum spoke to the bank today and they are happy to lend! What the bank manager's suggestion was though, was that we each take out a separate mortgage, say of $200 000 each.

That way, if I want to make extra payments, I'm free to do so and vice versa. We would still own the property 50/50 and when it came time to sell, we would simply split it down the middle.

I could then use my half to pay off the rest of my mortgage or to do whatever. So in a way, it does give me the independence I was after, as I can pay more and try to get rid of the debt as fast as possible.

We are planning to make an offer tomorrow morning. I'm very excited!

Great Weekend!

I had a fantastic weekend.

As I said earlier, my mum was down for the weekend. On Friday night, I drove into the city to meet up with her. We went to a pub across the street from the theatre for a drink and then grabbed some dinner. We then saw Wicked and it was absolutely fabulous, I enjoyed it so much! I would highly recommend it to everyone! Tickets were $135 but it was sooooooooooooooooo worth it, I would actually have been happier to pay more, it was that good.

On Saturday, we went house hunting, visiting some open homes and some private inspections I'd organised. The first one we visited actually ended up being the favourite. I absolutely loved it, as did my mum. We're both quite set on it and will be talking to the bank tomorrow and then hopefully making an offer. I will keep you posted.

Today we slept in (glorious), went out for lunch and did some shopping. All in all, a great weekend!

An Exciting Weekend Planned

Tomorrow, my mum has a business meeting in the city that I happen to live in. She made the appropriate arrangements to have her flight changed to Sunday night so that we could spend the weekend together. I'm very excited!

Tomorrow night, we are seeing Wicked. I have wanted to see this for a long time but didn't have anyone to go with. You can always count on your mum to go to things with you! I can't wait.

We are spending most of Saturday looking at houses. I'm glad about this as my mum (who owns a few properties) will be able to show me what to look for when buying. So I'll learn a lot I think.

I don't know what we're doing Sunday. We will probably just relax, enjoying each others company. I can't wait!

A Twist!

My dad emailed me this morning. Though he said my parents are still happy to help me out if they can, he had a new proposal for me.

He and my mum are wanting to acquire another investment property. They're not quite ready to go it alone (don't want to over leverage themselves) but he wanted to know if I would consider going halves.

Now I have a third share in a house already, with my parents and my older brother. My older brother and I are not listed as owners, in order to allow us to claim benefits later on when we did buy our own place.

However, my dad said that this time, we would both be listed as owners on the mortgage. I would live in the house rent free until such time when I was sent elsewhere for my job (about two and a half years). We would then rent it out.

My parents would supply the deposit and then everything else would be split fifty-fifty. When I was ready to buy my own house, I would also be able to utilise the equity in this place.

So what does everyone think of that? I don't think there is anything wrong with it, I would just really like to buy a place on my own, I don't feel as independent if I don't. Is that silly? Please give me your thoughts!

Help! I Need Some Advice

Some circumstances have changed, and I am in the position to purchase a property, quite quickly. I would be getting a 95% mortgage that is done through my work credit union and gets me approximately $250 a month back. Basically, by going with this loan, my company rewards me by giving me $250 a month to either go on my mortgage or assist me in my living expenses.

My parents have offered to loan me $10 000 for the down payment. It's interest free of course and I can pay it back in my own time. Obviously, I will be trying to pay it back as soon as possible.

What I need advice on is whether I am overdoing it. After I take out my other mortgage, my car loan, my car insurance and registration and my living expenses, I will have $1120 left each fortnight. My new mortgage repayment will be approximately $850. This leaves me a little over $300 to put into savings, to pay for bigger, unexpected purchases, to pay toward home insurance and rates and also to slowly pay my parents back.

Does anyone think I am overdoing it? Advice would really be appreciated!

First and Last Time

For the first time ever, I acquired some debt on my credit card that I was unable to pay off immediately. I was shocked. I had never done this before but somehow, in my carelessness, I did.

My sister owes me some money which she transferred this morning. As soon as that has cleared, I will be able to pay the last of the debt off. Admittedly, I was not charged any interest, however, this was a completely new and out of character thing for me to do.

It will be the last. I am putting a ban on my credit card. There is no need to use it unless there is some sort of emergency. My emergency fund is with ING so it takes a couple of days to transfer money. Therefore, my credit card offers a good option if there is an emergency and then I can transfer the money afterward.

I just can't believe it and I'm so disappointed in myself. I know better!