Thoughts on which way is the best to go to get a loan

Gazza

I have already built a house in the past, so don't qualify for FHOG and the last time i tried to build a house in 2010 my wage was low enough that with some tweaking i could qualifiy for a Government assistance scheme in WA that would have allowed me to build and only pay $50 a week while i was still renting waiting for my house to be built, but my wage is too high now…  Although i think some of the house and land packagers these days have arrangements with banks to offer deals such as this…

The fact is I have enough of a wage to already be paying $400 a week rent, save up money ($500-700 a fortnight or so) and have almost paid of my car in 2 years and take holidays etc, so its not a case exactly that its an impossible dream, its just that this announcement that they want to lock in a 12 month lease has sort of moved plans forward a bit or else I would have been on track to have the extra money saved up in 5-6 months…

And yes I would strongly be considering renting out a room to a tenant, not because i need the money, just that it would put me in that much of a stronger position money wise…

So it was just a way to arrange it to meet the loan approval requirements ahead of schedule…

The other problem is that 6-12 months ago i would definitely have been approaching sellers and wanting 5-10% discount on the property, but the Perth real estate market, at the low end anyway, seems to have bounced back so much that you often see a house for sale sign go up and only a couple of weeks later or less it has an under offer or sold sign on it, so not sure sellers in Perth are struggling to find people to buy their place, unless its a bit of a "renovator's delight"/dung heap…