Hi everyone,
This is my first post. I'm fairly clueless as to the intricacies of the real estate market so I'm hoping some of the more experienced members can help me with a dilemma I'm having.
My wife, daughter and I have recently relocated from Melbourne to Hobart. We have a home in Notting Hill (value about 500- 550k, mortgage is at 135k), which is tenanted at 330 p/w. The move to Hobart is permanent and we are renting here at the moment. I have approached some mortgage brokers about a loan but as I am now self employed with only 6 months of financial records, (major career and seachange happening),I am forced to get a low doc loan which doesnt give us enough to buy a family home in a decent suburb.
I am wondering if we should sell there and buy here, or is it worth my while to wait for another 18 months (apparently they need two years worth of financials if your self employed).
Any advice would be greatly appreciated.
This is my first post. I'm fairly clueless as to the intricacies of the real estate market so I'm hoping some of the more experienced members can help me with a dilemma I'm having.
My wife, daughter and I have recently relocated from Melbourne to Hobart. We have a home in Notting Hill (value about 500- 550k, mortgage is at 135k), which is tenanted at 330 p/w. The move to Hobart is permanent and we are renting here at the moment. I have approached some mortgage brokers about a loan but as I am now self employed with only 6 months of financial records, (major career and seachange happening),I am forced to get a low doc loan which doesnt give us enough to buy a family home in a decent suburb.
I am wondering if we should sell there and buy here, or is it worth my while to wait for another 18 months (apparently they need two years worth of financials if your self employed).
Any advice would be greatly appreciated.