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  1. #11
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    Default Increasing mortgage, have you ever?

    Ours will have increased by about 200K when we've finished renovating our dream house.

    We will have gone from a 3x1 postwar in a *slightly* less desirable suburb to a 6x3 renovated 1920s queenslander in a slightly better suburb.

    We can't wait!

  2. #12
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    Default Increasing mortgage, have you ever?

    No. We considered it but the extra debt would have placed too much stress on us. We could have managed the repayments but it would have been tight especially with me on mat leave. So we decided to spend $20k renovating our house (not to make it bigger but nicer) and will stay put. Even if we have 4 kids and they have to sleep in the shed

  3. #13
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    Quote Originally Posted by duckduckgoose View Post
    No. We considered it but the extra debt would have placed too much stress on us. We could have managed the repayments but it would have been tight especially with me on mat leave. So we decided to spend $20k renovating our house (not to make it bigger but nicer) and will stay put. Even if we have 4 kids and they have to sleep in the shed
    your second bub is less than a week old and you already planning extra bubbies? my my DDG...

  4. #14
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    Default Increasing mortgage, have you ever?

    Quote Originally Posted by Rose&Aurelia View Post
    your second bub is less than a week old and you already planning extra bubbies? my my DDG...
    Haha after dd was born I told DH we are stopping at two!! However two days on I'm not sure....

  5. #15
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    Default Re: Increasing mortgage, have you ever?

    Yup 210 to 420 (now 360) but we had an income increase, and we work hard to pay it down asap just incase our circumstances change. We're also trying to sell our other property to pay another chunk off it

    **Mum, Dad, Big boy (Dec 08) and Baby girl (Feb 11)**

  6. #16
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    Quote Originally Posted by Pregnor View Post
    Yup 210 to 420 (now 360) but we had an income increase, and we work hard to pay it down asap just incase our circumstances change. We're also trying to sell our other property to pay another chunk off it

    **Mum, Dad, Big boy (Dec 08) and Baby girl (Feb 11)**
    Thats similar to us, wage increase. I'm trying to make a budget to keep everything under control.

  7. #17
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    Busy-Bee is offline Offending people since before Del :D
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    We remortgaged about 18 months ago to finance a deck and some rennos downstairs that meant we could actually use a third more of our house! (We live in a highset that's built in downstairs but there were no internal walls and a large portion of it was DF's workshop for woodworking and garage. There were also no windows downstairs do it had a dungeon feel.)

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  9. #18
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    Wow, we saw this house today where the owner was in around $500k worth of mortgage debt because of a divorce and the house price has fallen since he purchased it 2 years ago. So sad

  10. #19
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    Yeah, we bought our first home in 2007 for 270k, have put heaps of work into it, and its been on the market at "from 265" for about 4 or 5 months and we have had one offer- finance fell through though, but the tenant pays 320wk rent! Our other place we sold for a profit the first home open! Crazy times in the RE market.


 

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