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  1. #1
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    Default Buying a house and having another bub

    We are wanting to buy a house late next yr and in 2015 wanting to try for another bub but we are unsure how we would go financially, me not working and having 2 kids.
    Anyone been through this or can help?

    In not sure if we should wait and have our bubs a few more yrs apart then I originally wanted

    Originally 3/4 yrs apart
    Now closer to 4/6 yrs apart


    Asha 26, William 13 months

  2. #2
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    I'd do it before you have two dependents rather than one. Makes getting mortgage easier.

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    I would get the mortgage first, but only because you have time on your side age wise.

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    I'm unsure about when to try then after we get a mortgage?


    Asha 26, William 13 months

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    I'd get the lower mortgage possible and get if before TTC 2

  6. #6
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    Quote Originally Posted by AshaTooley View Post
    I'm unsure about when to try then after we get a mortgage?


    Asha 26, William 13 months
    Yes banks will lend you less and possibly make it more difficult to get a loan when you have two kids.
    By getting mortgage first you only have 1 child at the time so it will be easier

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    We bought our house a year ago, it was the best decision for us financially because rent was going up and we had a good deposit saved and we found the right house at the right price. Our weekly payments for our 4 bedroom house are less than we were paying in rent for a three bedroom duplex.
    Now we're pregnant with number three and it's great to be in our own place this time, but we were really careful to get to a place where we didn't need my income to live.
    Check out what your repayments are likely to be and figure out a good budget and you'll be able to figure out a good time for the next bub.

  8. #8
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    Thanks a lot


    Asha 26, William 13 months

  9. #9
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    Will you be including your income (assuming you're working, that is), when you apply for the mortgage? If so, definitely make sure you're all funded with a manageable amount, prior to falling pregnant.
    Because if they see you're expecting, they'll have to include that in your application, which may also affect your borrowing power (time off work with bubs, one income in the near future, etc).

    Good luck! How exciting for you! 😊 x


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    Last edited by M2OR; 16-11-2013 at 21:00.

  10. #10
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    I would get the mortgage now. You can pay interest only while you are on maternity leave. We are building a house at the moment with a 2 yr old DS and planning on TTC just before we move in. We are also saving a little nest egg for when I am on maternity leave.

    This will be our third property that we have purchased (previously a one bed room than a three bed room unit now building a four bedroom house) and I can tell you from our experience is is always better to be in the property market then renting as long as you don't over extend what you can pay back too much.



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