Well about 3 days ago I decided to look again at why we were knocked back on the loan back in April. I'd been on Holidays for a few weeks, I was heading back to work but life at home was slowing down so I thought I'd start putting my goals together.
I went through the email and basically we needed money to cover stamp duty. "Light Bulb!!!!" Earlier his year the NSW government (despite how much they suck) announced no stamp duty is required on new homes < $600,000 AUD.
I got the calculator out and realised that we had more then enough if that was the case, more like double what we needed to cover the 5% depoist, LMI and legals. We decided to go do some work on working out where we wanted to live.
The options were:
After some serious thought we have decided on Jordan Springs, the reasons being -
- Land is about $60,000 cheaper then the average of the other suburbs, because it's off the plan prices.
- They have a housing affordability fund, refundable on settlement of the land with building plans worth $22,600.
- $2000 in landscaping to all purchasers.
- Close to brand new school and shops, has basketball courts too.
- Offers fibre to the home.
- Gives us the greatest investment return over the next two years with the cheaper land, the HAF and landscaping bonus. I'm expecting about 50-100k in equity the day we move in if all goes well.