Really right now!????

[iwantabub]

So sorry this is just a rant coz I need to get it off my chest...

We have been at our home 6 months now... It's a brand new home in a pretty average area... It is an investment property as we build them then live in them then rent them out and build another one...

We have been browsing the market as we had our number plates stollen off our car and a few other things happen so just keeping an eye out... Anyway this house has come up... It's my dh sisters house... It's my dream house ... It's amazing ... We know the whole history and we love it and they need it sold as they already bought another house... They are willing to sell it to us or $390,000 and its worth 430,000 easy...this is great but it's about $50,000 more than we wanted to spend

The problem is...
I am taking maternity leave for 18 weeks ... Then working a few days a week... This new mortgage would make us pretty tight,,, like we wouldn't be able to go out as much maybe and if interest rates boomed up for some reason I may have to work more and I am scared I won't get to spend the time with my baby...

I dunno what to do... We're seeing our accountant this arvo...

Essentially we have to decide whether to risk 12 months of being strict budgeters and possibly not being able to afford stuff and living in an amazing house... Or stay where we are and have a fair amount of cash flow... Littler amount of stress and be in this house which is smaller and in a crapper area.

Aaarrrggghhhh I hate that this opportunity has come up now of all times...
I have had a lot higher anxiety levels being pregnant and this is totally stressing me out just deciding what to do...

Sorry for rant I just needed to get it out

 

[greenlady]

My dad told me the other day it is a good time to get a mortgage as they have just dropped the interest rates here in Oz. Is it somewhere you see yourself living for a long time? Is it a forever house? If yes then I would go for it. If you are only going to be there 6 months maybe not.

My DH lost his job last week... he already has a new one but the salary is lower and we are looking at a much tighter budget and me going back to work sooner than I hoped. The way I see it I wont be spending a lot of money for at least 3-4 months just staying in with baby, so we will get by, though it will be hard. I think if you look at your regular outgoings you might find you can cut back in some way or another. I think its OK to go through periods of your life not being able to afford all the stuff you want, just the essentials. 12 months isn't that long in the scheme of things if you are in a fabulous house and saving yourself $50K in the long run as well. I mean don't beggar yourself or anything, but if its just cutting back its totally doable.

I am jealous because the chance of finding a lovely house in Sydney under $400K in an area that I want to be in is basically nil.

 

[iwantabub]

Here in Adelaide 400k ATM buys you a real nice place luckily... The hardest part is we own multiple properties... On paper we look fantastic but it's just weather to stretch ourselves...
The thing that's messing it up is that we own a house worth $600,000 and another worth $260,000 then if we buy this one it would mean we owe $1.29mil worth of property and only owe 800,000 however only renting one of those as my parents live in the other so even tho in the long term it's a win its hard to rationalise that now...

Don't get me wrong were very very lucky... All of our expenses and mortgages including absolutely everything we spend (including this new mortguage) and all of what that comes to is still under what my dh earns in one week with $100 to spare then whatever I bring in is a bonus... However if interest rates go up which they will and if anything happened to dh job then I'd have to work more... Which I'm fine with as I've always worked full time ... Just I wanna spend time with bubba... I guess coz I'm not making any money ATM I feel terrible and stressing out.

After 12 months we can claim this house we live in now as a rental and say we're losing money so we could get $20,000 in tax return so that would put us back in front... It's just the 12 months...

I think just coz I'm pregnant I'm stressing the small stuff ... I know long term were gonna be in a great spot but I hear all these stories about people taking risks and then losing it all...

I am sorry your dh lost his job... I hope you return to normal sooner rather than later...

Choices... I sound like a total wanker I guess ... Some people are way way less better off... I should just shut up and be great full...

Thanks for your reply

 

[elle86]

I know about stress! we are selling our house at the moment so we can build on our new block.. having the two properties is fine for the moment but we are about to lose my income when I got on maternity leave so Im very scared we wont sell in time! oh and then we will be moving house in the third trimester :-o the things we do to ourselves!

 

[iwantabub]

It's ridiculous that we inflict this on ourselves hahah...
We only moved in here during the first tri... I didn't even think of that ... Another move aaarrrrggghhhh god I hate moving... Lol

 

[elle86]

haha yeah I hate it too... its going to be a nightmare and I cant really lift much!... I think we will hire a huge truck and load as much stuff on as possible !

 

[Annie77]

Go for it!