Post by violet on Apr 10, 2007 10:48:13 GMT 10
Some calculators here:
www.yourmortgage.com.au/
Eldest ds and I were discussing the subject of building wealth last night. I reminded him that our first home was tiny, a million miles from anywhere, and backed on to land that was earmarked for freeway development.
However, I watched the real estate market, and when it increased enough that we could sell and buy closer to the city, that's what we did. When that house had a big spike in value, we sold it and bought the current, well-located house.
I suppose there was some risk involved, and dh was opposed to each move, but it was the best way for us, as a one-income family, to improve our financial position.
We had some whopping big mortgages, but nothing that was too onerous to service, and without borrowing we could not have traded up as we did.
My father did the same, and I told ds about the many houses we lived in when I was growing up.
He is trying to form a picture in his mind of how he will be able to achieve his goal of home ownership and financial independence. I wanted to reassure him it's possible, but he will have to do it a step at a time.
www.yourmortgage.com.au/
Eldest ds and I were discussing the subject of building wealth last night. I reminded him that our first home was tiny, a million miles from anywhere, and backed on to land that was earmarked for freeway development.
However, I watched the real estate market, and when it increased enough that we could sell and buy closer to the city, that's what we did. When that house had a big spike in value, we sold it and bought the current, well-located house.
I suppose there was some risk involved, and dh was opposed to each move, but it was the best way for us, as a one-income family, to improve our financial position.
We had some whopping big mortgages, but nothing that was too onerous to service, and without borrowing we could not have traded up as we did.
My father did the same, and I told ds about the many houses we lived in when I was growing up.
He is trying to form a picture in his mind of how he will be able to achieve his goal of home ownership and financial independence. I wanted to reassure him it's possible, but he will have to do it a step at a time.
