Depending on having housemates to pay the mortgage isn't a great plan (And the bank probably won't factor their input in too much).
Make sure you can service the loan by your self if you need to, and still live. _________________ Mechanical engineers build weapons, civil engineers build targets
Mon Nov 30, 2015 12:06 pm
kato
Joined: 11 Dec 2010
Posts: 92
Location: 4505
Don't be afraid to go bank shopping. If you get a better deal somewhere else, make sure you go back to your original bank and ask them to sharpen their pencil - they won't "beat it by 10%" like Bunnings but might be able to drop a point or two.
Mon Nov 30, 2015 2:37 pm
Knightrous Site Admin
Joined: 15 Jun 2004
Posts: 8511
Location: NSW
Factor in these few things:
Rates - The council sends you these nasty things every few months. I pay around $2500/yr on rates on my properties in QLD.
Maintenance - You will at times need to do some work on your house. It could be as simple as painting the house, replacing a hot water system or a leaky roof.
Unemployment - Come up with a plan in case you suddenly become unemployed. Some banks do offer insurance for these situations.
Insurance - Depending on your bank, this will most likely be mandatory to get your loan, but it's something you should have regardless. _________________ https://www.halfdonethings.com/
Mon Nov 30, 2015 2:55 pm
Valen Experienced Roboteer
Joined: 07 Jul 2004
Posts: 4436
Location: Sydney
oh, fyi lenders mortgage insurance, isn't for you, it insures the bank against you defaulting on the loan.
The bank (or insurance company) will still take your house _________________ Mechanical engineers build weapons, civil engineers build targets
Mon Nov 30, 2015 6:00 pm
Philip Experienced Roboteer
Joined: 18 Jun 2004
Posts: 3842
Location: Queensland near Brisbane
Paris climate change conference
How ironic is it when thousands of people fly around the world to work out how to burn less fossil fuels. Teleconference perhaps. _________________ So even the rain that falls isn't actually going to fill our dams and our river systems
Sat Dec 12, 2015 6:36 am
Knightrous Site Admin
Joined: 15 Jun 2004
Posts: 8511
Location: NSW
Re: Paris climate change conference
quote:Originally posted by Philip:
How ironic is it when thousands of people fly around the world to work out how to burn less fossil fuels. Teleconference perhaps.
That might be possible if we had a fiber optic based national broadband network which could be a sophisticated infrastructure back bone to provide Australia with such functionality.
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