Monday, March 8, 2010

The big M word

Mortgage.

So far, we have avoided it, but we are going to have one by the end of this year.

We are so confused. Do we build a house, or buy established? Do we push ourselves that bit further or be cautious?

I'm trying to get excited about it, but when I hear things like 'Perth is the second most expensive city in Australia' and 'you really should have bought here eight years ago', it just depresses me.

Added to the fact that we still adjusting to our move, we are probably not in the right frame of mind yet. But we don't really have a choice as if we leave it too long we are probably going to get priced out of the market.

We looked at gorgeous display homes on the weekend in that little beachside suburb I talked about last week. I still love it up there, but people love to give you opinions and all I am hearing is not great stuff.

We have a sales rep from a builder coming to talk to us on Thursday. I used to work for a home builder before I left Perth, so we are going over to my old boss's house tomorrow night to ask him every question we can think of.

Its so scary all that money, but I know once we do it we'll ask ourselves why we didn't do it sooner.

4 comments:

Chelle, Nick and Raya said...

Jo people always love to share horror stories - rarely the good ones. I am sure people thought you were wrong to leave Sydney and yet you know you made the best choice for your little family. You may be priced out of the market but a mortgage is a big commitment. What decision resonates within you? Wha is your gut feeling.

Good luck - these decisions are really only as hard as we build them up to be - I know I am a stress head

Shellsibelle said...

Chelle is right, people with their horror stories! I hear you on feeling depressed about how prices have gone up. We sold our previous house in 2008. I saw in the paper on Saturday that house prices in our old suburb went up $105k from 2008 to 2009!! :O I could say "if only we'd waited one year" but you just never know what will happen.

As for the build vs buy, it all depends on what you want - do you want a house that is "you", from the concrete slab to the door handles to the the roof tiles? Or are you happy with an already established home that still suits your needs? The only issue with building is it can take a long time and the choosing of everything can get tedious.

I don't see an issue with living a distance from town. I believe it is about lifestyle, not about location. I grew up half an hour from town (and I went to high school in the city) and it was fine, and I also live half an hour from town now.

Remember that each time you make a mortgage payment, your house is getting that bit closer to being yours :] Paying rent is just a constant outgoing with nothing to show for in the end.

All the best with whatever you decide :] Sorry about my essay! :\

Amy said...

People love a horror story as Chelle and Shell have said lol

Just jump in when it feels OK to you guys - its such a scary thing to do it will never feel 100% right and safe.

As for the commute - well we have done it for 3,5 years and still LOVE living out of the rush and concrete jungle. No horror stories here ;)

good luck xoxoxo

Simone said...

oh good luck deciding what to do. I am envious.