Im looking at building a house. I don't know where to start or who to start talking to. This is something I will be doing completely on my own with some of my bothers suport over the phone as we don't live close.
Is there any single or solo mums that have bought a house?
I don't get child support. Im on part DSP and FTB A and B. I now have permanent part time work, ive been given more training and offered more hours in the future, so my job is stable. Im banking now about $1000 a month with rent on top of that. I've gone completely cold turkey on spending any money but on bills food rent and savings. I have one child as a dependent.
I have about 21k saved up now. I don't know if that's enough for a deposit and I've looked into the first home buyers which I guess will take my deposit up 20k?
Do you think its possible for me to get a house an land package with my financial situation. I almost bought years ago but my ex came into my life and I lost it all. So the banks have that history too that I can and do save.
Also is there any banks that counts rent as savings?
This is a dream of mine I've had for many years and I want to be able to give my child something when im no longer here.
Im in Victoria if they helps.
Thanks ladies.
Mortgage
Mortgage
Posted in:
Mental Health, Self Care, Sisterhood Stories, Health & Wellbeing, IM's In Business, Money
3 Replies
Start with talking to a mortgage broker. They will be able to look at your particular circumstances and give you a much better idea than we can on if you’re in a position to buy or not
You need to talk to a broker. My DH is one & often advises people how to prepare their finances to maximize chances of getting a mortgage & what govt grants are available. Often this is 12 months in advance.
Advice on building - if you have limited funds I'd consider a turnkey new build with a fixed price that includes everything. The costs of building from scratch almost always blow out & you're still left with flooring, window dressings, landscaping, driveways etc. which are not included. Find a builder doing the packages and ask about anything not covered.
You can get all of that included