Browse Forums Home Finance Re: How big is your mortgage? 21Sep 18, 2007 1:10 pm Internal and External Building and Colour Consultant Online - Worldwide http://www.denovoconcepts.com Re: How big is your mortgage? 23Sep 18, 2007 5:41 pm Internal and External Building and Colour Consultant Online - Worldwide http://www.denovoconcepts.com Re: How big is your mortgage? 35May 16, 2008 5:43 pm Well, we have no mortgage !
We bought a knockdown for $650,000 & the total build will probably be about $380,000. In our mid 20s, we were lucky to buy a "squat" back before the stockmarket crash of '87. We bought our Edwardian "squat" for $109,000 in '86 with a $30,000 loan at 17%. We paid it off in 7 years with my husband on about $40,000pa & 3 children. We slowly renovated the dump by doing everything ourselves. We sold it at a nice profit 6 years ago.......& yes we could have done even better if we knew what the market was going to do. No regrets though We haven't looked back since. Now in our late 40s, we are building for the very 1st time & doing it with cash. And in the area we wanted to live in 25 years ago. Yes & having read your posts, I do realise how fortunate we have been. Though we did live very frugally, as our kids often remind us. I wonder how our children will manage financially , when it's their turn? Built the Eden Brae Cambridge 34 Family with Boston Corner Facade Re: How big is your mortgage? 36May 16, 2008 9:23 pm Our first house, which we bought in 1984, cost $42000. The vendor invited me to buy his pristine XY Falcon GT and the house for $50,000. I said no because we were already stretched.
That car would now be worth around $200,000. Anyway, we sold that house 14 years later for $43,000! We almost doubled our money on our present house over 10 years. Our loan amount, after construction, will be less than $140k. Hope to pay it off in less than 10 years. Geoff - Decophile. Thanks mate. Yeah good points! Leaning towards Option 3 to get a bit extra space in the cabinets but not going too crazy high (and expensive). Would require a mini… 13 40925 Broker here - legislation says that every true broker must put the clients best interests before theirs so in theory they must offer you the best options for you on their… 2 46386 |