Forum Replies Created
Hi Colin,
I’ll be contacting our MB in regards to changing from IO to P & I.
I didn’t realise that over the life time of the loan, you end up paying more interest, if part of the loan is IO.
Ideal if the value of the property goes up.. Hasn’t worked in our favour though.No, We didn’t buy through a company. A reputable builder in the town was building a couple of houses in a particular area that we liked. We bought ours before it was completed, the other house sold for 30k more when completed. At the time we thought we got a great deal, saving 30k!
One of the down sides to all this is it’s slowed down our potential to buy again.
Thanks Colin for your input.
Hi Benny,
Great ideas again, though I believe that with the current market in the town, other areas probably will be better suited for capturing that market. We’ll continue to attract working families. Which we will try to make more appealing by adding a decent size shed.
After having a chat with my hubby, we’ve decided to start paying the principle straight away, instead of waiting until the end of 2017 – when it was meant to kick in. We both earn a pretty decent wage so we’ll try and pay a bit extra of our P&I.
It’s not all doom and gloom though, we’ve learnt a lot from this.
We’re pretty optimistic that the tide will change :)Thanks again Benny.
Hi Benny.
Thanks heaps for your helpful insight.
The house was a new build so it has aircons in all rooms. It does need a garden shed , which is something we have wanted to do. I’ll do some sums and see if it’s viable.
We would prefer not sell, nothing nice about waving good bye to that amount of money.
I wasn’t aware that that was even an option ( extending OI!). Well, if we can extend our OI loan for another 5 years, then yeah, we would definitely like to keep it.
There are a few projects in the pipeline for the emerald region over the coming years. Hopefully they all get the government go ahead. If they do, then keeping the house should prove to be the wise choice.
Some of the points that you have suggested are some that I wouldn’t have thought of, You definitely have given me a few ideas to look into. I’ll be chatting to our MB over the coming weeks and hopefully now I’ll be a bit more informed!
You’ve given me ALOT to look into Benny. I really appreciate all you’ve suggested.
Thank you
Hi Josh,
We’re buying a house that is being built by a quality builder from Emerald.
Yes your right about Riverview, nice high and dry area with a lot of nice housing estates close by. We’re just fortunate that we were able to view the area or we too could of been another investor, investing in the Estate.Cheers Donna
Hi Josh,
Firstly I'd just like to thank you for all the information that you are sharing freely. I'm just loving reading all of your posts.
At this minute, my husband is at the solicitors office in Emerald, handing over our signed contract on a house that should be completed within 3 months in Emerald. Very exciting times for us as its our first investment property.
I couldn't agree more with you in regards to Riverview estate, most properties seem to be a carbon copy of one another!! We don't reside in Emerald, though we were fortunate enough to be able to stay the night in Mayfair Ridge a couple of weeks ago. your description of Mayfair Estate is spot on, Houses all seem to be built to a high specification and the street appeal is second to none.
Emerald is a lovely town with a lot to offer from, great choice of schools, to open spaces and a great town centre.
Thanks again Josh on the great work your doing and I'll look forward to reading your future posts.Donna
I've recently moved to Moranbah. You'd be very hard pressed to find someone that will cut your lawn for approx $40, try doubling that price and you'll be getting closer!
Thanks Guys,
That has cleared things up for me.
I'll continue to find out as much info as I can, then when the time is right I'll start looking!!Thanks also on your prompt reply.
