My Story... So far... (Somersoft Diary)
- Thread starter MickStephens
- Start date
Ok. So its been a while since ive visited. Not much has happened since ive been here last. Our backyard has improved a little, the house is still standing and I have a job I enjoy that pays the bills.
A co-worker just purchased his second house and turned his current PPOR into a rental, and its made me realise ive done bugger all about buying my 2nd house haha....
Kids are now 6yrs & 2yrs, one at school and the other at home with my fulltime stay at home Wifey.
Ive been having the thought about building a new house in our backyard and then renting out the front one. Anyone here done this?
The house we live in now is old and im over it. haha.... Not really a "Simple/Cheap Fix", but im over spending thousands on an old house and not really seeing much improvement.
Until next time... I'll keep browsing here...
A co-worker just purchased his second house and turned his current PPOR into a rental, and its made me realise ive done bugger all about buying my 2nd house haha....
Kids are now 6yrs & 2yrs, one at school and the other at home with my fulltime stay at home Wifey.
Ive been having the thought about building a new house in our backyard and then renting out the front one. Anyone here done this?
The house we live in now is old and im over it. haha.... Not really a "Simple/Cheap Fix", but im over spending thousands on an old house and not really seeing much improvement.
Until next time... I'll keep browsing here...
Who's joking? Not one "hahaha" or "lol" in my post...
Hi, creating another lot in the backyard is a good way to increase your asset base.
I don't wish to burst your bubble but what are you going to use for cash?
The reason I raise this issue is that you have extended your loan by 33K but 14K went into consumption.
I take it that you work and have a salary. Why couldn't that salary pay those bills and the car?
If you've made good that 14K, then kudos to you because the house loan extension was the cheapest way to pay for those items.
If you haven't and you proceed to increase your loans and I wouldn't put it past you not to dip into any loan proceeds for personal use, then you'd go into the high risk category of homeowners who cannot pay their mortgages when interest rates go up.
Do do invest but give some thought to the details.
Good luck,
KY
I don't wish to burst your bubble but what are you going to use for cash?
The reason I raise this issue is that you have extended your loan by 33K but 14K went into consumption.
I take it that you work and have a salary. Why couldn't that salary pay those bills and the car?
If you've made good that 14K, then kudos to you because the house loan extension was the cheapest way to pay for those items.
If you haven't and you proceed to increase your loans and I wouldn't put it past you not to dip into any loan proceeds for personal use, then you'd go into the high risk category of homeowners who cannot pay their mortgages when interest rates go up.
Do do invest but give some thought to the details.
Good luck,
KY
Ok. So its been a while since ive visited. Not much has happened since ive been here last. Our backyard has improved a little, the house is still standing and I have a job I enjoy that pays the bills.
A co-worker just purchased his second house and turned his current PPOR into a rental, and its made me realise ive done bugger all about buying my 2nd house haha....
Kids are now 6yrs & 2yrs, one at school and the other at home with my fulltime stay at home Wifey.
Ive been having the thought about building a new house in our backyard and then renting out the front one. Anyone here done this?
The house we live in now is old and im over it. haha.... Not really a "Simple/Cheap Fix", but im over spending thousands on an old house and not really seeing much improvement.
Until next time... I'll keep browsing here...
I'm guessing this is what Hooray might have been referring to?
Hey mate
Yeh, been bogged down with raising two ratbags.... I mean kids haha...
Im typing this out just after selling another car to a lovely customer. Who says men cant multi task
Who says men cant multi task
Multi tasking and keeping a straight face too - hooray for that!
