Forum Replies Created
- Originally posted by Terryw:
Hi Romina and Luca
You appear to have a little bit of equity, so, depending you your husband’s income, you may be able to buy another property sooner than you think.
That is the thing… apparently they said that based on our info the max they can loan us is approx $190K.. could this be correct? although our house may be worth 260K? My husband is a factory hand and earns 35K, I am a full time mum… I just really need to do something to make a change in our financial situation.. I am going crazy. Is there actual hope???[glum2]
Romina and Luca (and bubba Nicolas)
Thanks for your reply… We are kind of falling inlove with our little house… could it be because its our first home? That’s why I was wondering about the purchasing of a second home based on the equity of the first… if this is possible then we may be able to keep this one and make money from the second one onwards.
BYEEEEEEEEe
Romina
Romina and Luca (and bubba Nicolas)
Hi everyone,
I am sorry I have been away for so long, but between the business, bubs and the house I have been hectic.
We now have the house and we are very happy!! talking about rennovating and saving only a buck or two.. well, I called yesterday to find out the cost of gyprock to re-do the walls of the house (masonite at the moment) and they quoted us (through a friend so it is much cheaper) about $2,000…. I called a company and asked how much they charged to do the work and they asked for $16,000…. provided that We took off the old masonite!!!! So I guess we are saving $14,000.
We have taken off the masonite already and it was easy and quite fun, my hubby has started putting on the gyprock and that is not hard either. Amazing what the mark up prices are in the building industry. Same goes for fencing, sanding and polishing of floors and tiling your own bathroom/kitchen. The saving, if we go ahead will be something like $26,000.
ONE QUESTION… as we quite like the house and perhaps would like to keep it, we have been told that we can get another loan to purchase a second property based on the equity on this house (after rennovation etc)…Is it really that simple???
Thanks
Romina
Romina and Luca (and bubba Nicolas)
made an offer… got the house, lets hope settlement goes through!!!
ROMY[biggrin][biggrin][biggrin]
Romina and Luca (and bubba Nicolas)
hang on, don’t get me wrong.. it’s just that I am new at this and all the people that I have spoken to never mentioned it to me. Thanks I will check it out.
Romina[blush2]
Romina and Luca (and bubba Nicolas)
this is a new one!
Romina and Luca (and bubba Nicolas)
i have pm’d you
Romina and Luca (and bubba Nicolas)
I was born in Australia and lived here until 2001, I then went to Italy for 2 1/2 years and moved back in January of this year. That is what I meant by saying that I only just moved to Australia. I have been going through properties pretty much daily on domain.com, realestate.com, contacting agents and searching through newspapers since probably March so I have been keeping track of prices and what the market is asking for certain types of properties… I have noticed which properties have been sold immediately and which ones have decreased even by $80K as they would not sell.. I noticed which areas are sought after and which are not considered.
As this would be our first buy, we are not familiar with lenders… can we really change lenders after a while?
Any other advice is greatly appreciated….
Romina [email protected]Thanks!!![blush2]
Romina and Luca (and bubba Nicolas)
