We were drawn to an attractive new build offering from ANZ. We have applied for a pre approval and been approved up to $970,000.
So after several years without a mortgage, we will be under the banks thumb again! And I don’t mind.
When I was younger I was very averse to housing debt. Ironically as I have gotten older and more financially aware, I am way more open to the idea.
If/when we sell our current property we would be able to finance about two thirds of the build outright, but at today’s low(ish) interest rates we are perfectly comfortable carrying a mortgage into our coast lifestyle.
That’s the only update I have.
It’s nice knowing that we don’t have to contribute much of our own capital should we decide. It means we can be a bit more flexible with having money to adjust to our new lifestyle. Without a mortgage, we wouldn’t have those options available until later.
I don’t intend to turn this blog into a home building blog, but it is something that we are excited about and it is my blog after all. There will still be plenty of personal finance articles in the mix. Besides I will mostly be posting these on a Wednesday as an ‘extra’, so it won’t reduce the finance related musings.
For more articles on the build process to date you can read here.