Starting sooner than expected

[Sarah88]

Well we've just found out that we have no way of getting a house loan unless we save up over 20% of the house price, thanks to Justins credit default which is on until Nov 2015. So after spending at least an hour crying and feeling sorry for myself I decided that i'm going to turn it into a positive.
So I was thinking that we could just rent a cheapish house and save up, then have another bub while we don't have a mortgage. Of course, i'm going to go spend some of my next paycheck on myself to help me feel better but then start saving. I haven't asked my OH this yet as he's at work but i'm almost positive he's going to agree. He's wanted another one for ages now. And this way, I get them out of the way while i'm young and my body bounces back easier, lol. I did want them close together and was thinking how it would be very very difficult with a mortgage.
I'm actually getting excited tbh, and since Savannahs still waking at night I may as well get up to a newborn as well
Gotta try keep myself positive and happy

 

[purple01]

Aww I totally understand the property/money thing, I have spent a lot of time myself crying over both over the past few years!

I guess just have a look around at what houses are available to rent in your area and see what rent they are charging. Then you can check the finances and make sure you'll be able to save something towards the house deposit each month. Then least if you have to accept you'll be renting for a while, as long as you are saving for your own house it won't seem as bad!

See what your OH says and go from there.....good luck!

 

[Sarah88]

Thanks hun. I'm just checking out prices now and I think we'll be able to get a half decent house and still be able to save for $300 AU or so. Hopefully we can get one that will let us have a dog though, I was looking forward to getting whatever pets I wanted when we bought our own house.

 

[Pops]

I think that sounds like a great idea hun. By the time you guys are ready to buy, the little ones will be that bit older and it would probably be a lot easier.

I really hope it works out how you want it to and you enjoy your time in WTT

xxx

 

[Sarah88]

It feels good now actually, having something to work towards means i'm less likely to blow all my money. And I think when we have $10, 000 saved then we can start ttc. I'm hoping to try take a year off this time, I think i'll enjoy being home more.

 

[Sarahkka]

For what it's worth, I'm 33 and we still rent. By choice.
Living without a mortgage has allowed us to save ridiculous amounts of cash ($70k), pay off our student loans($40k), and enjoy a house and neighbourhood that we couldn't afford if we owned. We're not tied to a house or a big mortgage. Eventually, we would like to buy something small, but if things continue to be as overpriced as they are, I may not bother. I get a much better return for my money from the stock market.
And yes, the fact that we don't have a huge mortgage hanging over our heads means that if one of us should get sick or lose a job, we aren't in danger of losing our house, or if I want to stay at home with our babies, we can afford it.
There are lots of myths surrounding house ownership and you can tell by the massive defaults going on everywhere that a lot of people believed the hype and bought what they couldn't afford. Having 20 % down is a GREAT idea! It is a requirement that should never have been lifted!
So find yourself a sweet little rental, let your landlord worry about the repairs and maintenance (another excellent benefit!) and enjoy! I think you're being very smart!

 

[ramblinhaggis]

we arent able to get a house till 2016, we are on a debt management plan, as you can see that hasnt put us off having one more baby! We are lucky in that hubby has a good job so the only things we get are tax creds and child benefit. We are saving what we can, so come 2016 we can hopefully get a mortgage then.

 

[Sarah88]

For what it's worth, I'm 33 and we still rent. By choice.
Living without a mortgage has allowed us to save ridiculous amounts of cash ($70k), pay off our student loans($40k), and enjoy a house and neighbourhood that we couldn't afford if we owned. We're not tied to a house or a big mortgage. Eventually, we would like to buy something small, but if things continue to be as overpriced as they are, I may not bother. I get a much better return for my money from the stock market.
And yes, the fact that we don't have a huge mortgage hanging over our heads means that if one of us should get sick or lose a job, we aren't in danger of losing our house, or if I want to stay at home with our babies, we can afford it.
There are lots of myths surrounding house ownership and you can tell by the massive defaults going on everywhere that a lot of people believed the hype and bought what they couldn't afford. Having 20 % down is a GREAT idea! It is a requirement that should never have been lifted!
So find yourself a sweet little rental, let your landlord worry about the repairs and maintenance (another excellent benefit!) and enjoy! I think you're being very smart!

wow!!

 

[Sarah88]

Looks like the plan is a go ahead too
I talked to Justin last night

 

[Sarahkka]

Awesome!
Have fun!

 

[purple01]

Excellent news!

 

[princess_bump]

wonderful news honey xxx