Phil’s Diary - [Blog @ http://www.philsdiary.net/]
Well there’s definitely properties in my price range, and it looks like with the multiples and whatnot, the price range is reasonable. As I see it the main challenges are as follows:
First, figure out a suitable contract with my current landlord, so that I can buy somewhere without having to wait a year.
Second, make sure I’ve got enough deposit. Things are going to be tight, even with the cash I’ve got saved. It’s the variable in the stamp duty, legal costs and the like that are going to be eating a large chunk.
Finding someone to lend me the money is next. The multiples work out in my favour, so as long as I’m credit worthy then I should be able to borrow enough money.
Finding a house I like is the last one.
Then we move into the whole “house buying hell”, all the price wrangling, legal cheques, moving etc. etc.
I guess I’ll just take things one step at a time. I’ve already fired off an email to my landlord. If I can get that sorted, then we’re onto the saving a few more pennies while I find a lender and a suitable house.
My parents have offered to help out during the house hunting process, a couple of friends have also offered a second opinion. And with work being almost totally house buying oriented (we write IT solutions to help with the mortgage valuation part of the buying process), there’s a few favours and contacts I should be able to use there too.
Just got to start taking the first steps now. One at a time.
Posted by Phil on February 18, 2004 09:49 PM | Categories: House Buying