When to get a house..
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I’ve recently changed job and i got a fair bit of capital back from a shares scheme so that got me thinking about getting a house.
I still don’t have a huge deposit but i soon will.
How long do i wait before i get one i wonder?
After speaking to many friends and reading many newpaper articles it seems the magical time is in 10 months. Hmm, well i guess we’ll see on that one. That last thing i want to do is get a mortgage and then be trapped in negative equity 6 months later.
I guess thats the risk you take. I’ll be able to get Homeowner Loans at last i guess.
Derek
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10 months sounds about right to me – maybe a year. Don’t do what I did and spend a lot of money on credit cards and loans and then had to go into a Debt Management plan.
It helped me out no end in reducing my monthly outgoings so I’m glad I did it but it would have probably been a better idea not to max out my credit cards in the first place!
Frank Polenose
Comment by Frank Polenose June 26, 2008 @ 4:41 pm10 months sounds about right to me – maybe a year. Don’t do what I did and spend a lot of money on credit cards and loans and then had to go into a Debt Management plan.
It helped me out no end in reducing my monthly outgoings so I’m glad I did it but it would have probably been a better idea not to max out my credit cards in the first place!
Frank Polenose
Comment by Homeowner Loans June 26, 2008 @ 4:42 pm