Wednesday, July 7, 2010

Tough decision update

As I mentioned here I have been facing a tough decision in regards to where to live, my house etc... I appreciate your opinions, but it looks like the decision has been made for me by the banks.




In order for me to buy here I would need to save $200,000, as my borrowing power is not so high. Even after selling my house, there is just no way I would have enough money and considering in the last 12 months I have seen properties here be sold then relisted now for $80,000+ more than they did 12 months ago, by the time I had enough saved I’d be completely priced out.



But that’s ok. I feel very happy and relaxed with my decision to move back to the old house. It is not a terrible area, even though I probably made it sound that way. It was more the people living there causing me problems and by living here I did not have to deal with them as much. They are close to me so I do have to deal with them, but they have changed a lot. They were in a very bad stage in their lives, but are doing remarkably well now and I have learnt to step back a lot.



I am actually quite excited about going back there. I do have lots of friends there and the school right near our house is fantastic. They are very multi-cultural, friends of ours go there and they have a Polynesian Dance group, which I want our daughters to be in.



And you will never believe what happened today! I was in the library and picked up a magazine. I had a flick through and one of the articles stuck out at me and gave me some ideas for my house in Sydney. If I had not been considering moving back, this would not have stood out at all.



I have just done the sums on if I did something similar to what I just read about and it would completely turn our property around for a small outlay. I won’t go into details too much, as I need to check up on a few things first, but I am quite excited now!



I won’t be able to go back there for a few months yet, as I have some loose ends to tidy up, but it looks like we will be going back. If I can get everything I have planned to be in motion next year and finished by the end of the year, I will be very happy. Doing this will help me to buy here, where I want, later. Yes prices will go up by the time I am ready to buy, but my little head is going a mile a minute and this way is the best way for us.

2 comments:

  1. I love your challenge. Just found your blog. I live in Sydney too. Yet to buy. It seems an impossible step sometimes. :( It is good that you have an action plan that will help you achieve your dream x

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  2. I'm glad your decision has been made. I know how hard it is to be stuck making a life changing decision and not knowing which way to go. Good luck with everything. I can't wait to see more about this little project you found. :-)

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