This whole post is an enourmous plug, so let me begin it as blatently as possible. If you live in Sydney, could repay a home loan but don't have a deposit, then you need to go here: HomeEasy.
The post before last was about how this all came about, and about how we kinda sorta got approved by these people, etc, etc.. so I'm not going to go on about it too much. However, yesterday my wife and I went and met the guys who run HomeEasy, and they are just a couple of really nice rich guys who want to help people like my wife and I to get into the market. It appears to me to be 100% scam-proof as well, as there's no contract between us and them. We don't give them any of our money throughout the entire deal. The only contract exists within amendments to the property sales contract to ensure that if for some reason somebody can't furfil their obligations, the whole thing becomes null and void - protecting us from landing ourselves in trouble. I love it, it rocks. Not only that, but it's not just for first home buyers. We can do this again and again for each property we buy. It's just brilliant.
So being that we're now 100% good to go on buying a house, let me just say that HomeEasy and the two guys who run it seriously rock my world. If I ever get rich, I hope I can be as cool as them.
So, the other thing I should mention is that we looked at a house. This house, to be exact. For those who looked and pulled that face that speaks of mountains of aprehension - yep. I'm right there with you.
The thing about it is, that we can spend a maximum of $230,000 at this point. Not only that, but because we're HomeEasy buyers (I'm not going to be bothered linking it again...), really that translates into a little over $215,000 in tangable income for the seller. So we can't really afford to be choosey. But how not choosey do you allow yourself to be? Not only that, but when you're in the very bottom edges of the market, do you pass up one opportunity to wait in the hope that another will come along? This could very well be the last house in the Hawkesbury that sells under $230,000. I mean, it's an unlikely scenario, but not impossible. If we decide not to buy it, and to wait, we could miss our last valid opportunity. Or conversely, if we buy it, an absolute bargain house might appear on the market tomorrow. There are just no guarentees.
So I guess the best thing I can say, is to all who have played the property market and won, I salute you. It's pretty flippin' hard. :P
STATIC DISCLAIMER: All the stuff in here is purely my opinions, and they tend to change depending on what mood I'm in. If you're going to get bitter if I say something about you that you don't like, then maybe don't read. I avoid using names as much as possible, and would request that people who know me do the same in their comments. Basically, I often vent my frustrations on here, so if you happen to be someone who frustrates me, expect to read a description of someone very much like you in here!