Have been really busy at work with developments on a few things I work on. It's good to be busy again, but my head has been swimming a little bit trying to keep up. Watching the below video may help to put you in the same mind state:
On top of that, we've been meeting with a mortgage broker recently trying to work out which home loan to go with, and on top of that how we want to structure our finances when we get the house. While the second half of the sentence is still very much up in the air (making the first problematic as well) we did come to a very good conclusion while at the broker - we have enough money saved up now for a 20 per cent deposit (or for those who read my earlier musings on the subject, an LVR of 0.8)! This is very exciting, as it means that we don't have to worry about paying mortgage insurance, which was looking like at least $5k.
Looks like all that saving has been paying off! I'm glad, because I'm getting sick of tinned soup for lunch, and I'd hate to think that my tastebuds had been suffering for nothing.
However, it does mean we'll have less money left over to pay for all the other things that need to happen when we get in there. Our previous calculations had left us with plenty left over for the new couch we want to buy, the curtains, the aerial and the garden. It looks like I will be eating canned soup for lunch for a while longer.
The other alternative is that we opt for a loan where the lender takes a current market value of the property, rather than the contract price. While I had previously thought this was a fairly common place scenario, according to our broker, it actually narrows the choice of lenders quite a bit.
Decisions, decisions!
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