Browse Forums Home Finance Re: First home buyer- over committing on finance? 2Oct 06, 2017 5:16 pm Foremost Building Expert in Australia,assisting with building problems/disputes, building stage inspections,pre-contract review advice for peace of mind 200 blogs http://www.buildingexpert.net.au/blog Re: First home buyer- over committing on finance? 4Oct 06, 2017 6:22 pm Foremost Building Expert in Australia,assisting with building problems/disputes, building stage inspections,pre-contract review advice for peace of mind 200 blogs http://www.buildingexpert.net.au/blog Re: First home buyer- over committing on finance? 6Oct 06, 2017 10:20 pm Thanks Tom. Unfortunately we don't have enough time between now and settlement to save for stamp duty and another 8k to make10%. Shoot we let this property go and wait to buy? I just worry that land prices are getting very expensive and stamp duty on the land is dead money. What do you think? Re: First home buyer- over committing on finance? 8Oct 06, 2017 11:08 pm If you are comfortable with a higher LVR and LMI, then don't let that deter you. In the end it's your decision to make, and no one else can do it for you. Though I am confused. You mention here in this thread about a house and land package, but in another you are just talking about vacant land? Cheers, Tom Re: First home buyer- over committing on finance? 10Oct 07, 2017 5:36 am The H+L package will be on land that has not registered yet. In the other thread I have mentioned I am nervous about the land component being undervalued by the bank yes. We have to pay deposit for land 5% and deposit for build 5% very soon then at settlement the full amount. We are thinking about moving to s cheaper rental but other than that we are saving to our absolute capacity and don't really want to sell our cars. you were just referred to get advice from your solicitor. This is a legal matter. Separately, why would you use a buyers agent for a house and land package? 3 55159 Not much in this responce. My suggestion is, what are you looking to build and why. This will all be impacted by the local councils planning scheme. Familiarise yourself… 6 5840 So it looks like we finally have some movement on site! Definitely later than expected, but I'll take any progress at this point. I'll drop by over the weekend to get… 5 27230 |