lol – yep that's a good point. Might have caught the dreaded analysis paralysis.

Being a SAHM probably plays a part too – I don't know how my wife manages to get anything done. From my perspective, running a business is easy peasy compared to looking after the kids full time.

Is your husband the sole income earner at present? If so, that could…[Read more]

haha – it would be a brave venture. I think I'll stick to being a number crunching finance nerd

At least you're going about it the right way by seeking input and doing your research. You're not jumping into anything without thinking it over.

Cheers

Jamie

No worries at all – glad it helped

We throw these phrases around all the time that it becomes second nature – so it's good to take a step back every now and then.

Cheers

Jamie

Hi Spongy 

Welcome aboard.

I can't comment on the website you've mentioned – I don't know anything about it.

However most brokers have a subscription with companies such as residex, RP data or Australian Property Monitors that provides this sort of information for free to their clients.

It's quite a common situation where one person in the…[Read more]

Gilly61 wrote:

Please help me – I am getting confused!

Hi Gilly

Welcome aboard.

If you've got a house worth $400k and a loan of $300k then you could take out $20k in equity without having to pay any Lenders Mortgage Insurance (LMI). It's calculated by taking the value of the property ($400k) multiplying it by 0.8 (80% LVR) which equals…[Read more]

Be careful with going over your limit. If you require a home loan with the same bank in the future – the credit scoring of your application might be poor due to the conduct on your credit card.

Cheers

Jamie

Hi Rick

Welcome aboard. Try Richard:

Richard Taylor – Director
Taylored Financial Solutions
PO Box 5217, KENMORE, Q, 4069
P: 07 3720 1888 I F: 07 3720 2830 I Mob: 0468 335755

Cheers

Jamie

I've never heard of the program – what does it do?

Cheers

Jamie

+1 for house of wealth.

Cheers

Jamie

ljf wrote:

A quick sale at $6-8k commission vs a pittance in comparison as property manager..

Yep, spot on. That's what will be going through their heads – it's all about getting the listing.

Cheers

Jamie

Personally, I'd be inclined to go with a fixed price provider. 

Cheers

Jamie

Hi GLK

There's "actual" equity and "useable" equity.

Actual equity is simply the value of your home minus the loan amount – in this case, you've got $200k

Useable equity is what the bank will let you access. Most lenders will allow you to go up to 80% of the properties value – which in this instance would be $100k (note that some lenders allow…[Read more]

Agree with Shahin. Those funds are going to sit dormant in the REA's trust account. 

Cheers

Jamie

Suss it out with the NSW SRO – http://www.osr.nsw.gov.au/benefits/first_home/general/eligibility/

Cheers

Jamie

ljf wrote:
Thank you both for your replies.
I will find out the expenses of selling vs renting. I have a real estate agent coming over on Thursday night to tell us what we could expect to sell or rent for. 

I've been so confused trying to figure out the best way forward, and now I have have a plan.
Thanks again

Hi again

Don't be surprised…[Read more]

Hi LJF

Sorry to hear about your predicament.

It sounds like you're leaning towards keeping the property but just need someone to verify that you've making the correct decision.

Personally, I think if you can afford to hold onto it than do so.

You also don't need to seek advice from a property adviser. Chances are they'll just try and spruik…[Read more]

Hi Suri

Welcome aboard.

Have you worked out what you can achieve on your own with your own savings?

You still might be able to invest – it may just be on a smaller scale than you hoped.

Cheers

Jamie

Hi Ralph

Welcome aboard.

I can't specifically comment on her – I don't know what she advocates or what's involved. I've never heard her speak nor have I read any of her books.

There's plenty of free resources to get you started – this forum is one of them.

Stick around, ask questions and contribute to this forum. We're a nice…[Read more]

OK – than a separate variable split is definitely a good idea. That way, you get to utilise flexible features such as an offset. 

You might find cheaper options than ME but you need to weigh up ALL of the costs associated with an external refinance. They include state govt. fees, lender discharge fees and incoming lender application fees where…[Read more]

If you're considering fixing than leaving a portion variable is a good option. 

Is this property a PPOR or an IP?

Cheers

Jamie