Last week while walking out with the sis-in-law, I saw there was a house for sale. So I rang the agent, and went round to have a look. It looked pretty good to me, and so I rang a mortgage broker, who reckoned he could get us money and we could make an offer. At this point I had to pinch myself to make sure I wasn't dreaming. I mean, hell, we don't have a huge pile of savings, and are on one income.
So I rang Mummy. Who booked a plane ticket.
This was all getting pretty serious. Perhaps we were about to become home owners. We didn't think we could do that. We had no idea we had enough money. We thought us and the market were hugely and irredeemably seperated by a gulf of thousands.
So Mummy arrives, and we went to the house, which she reckoned was too small, and so we went round zillions of open homes. Some of which we could afford. According to the broker, who spent some time with us working out our finances. And we found an old house with one careful lady owner, fifty years old, with a kick-ass garage according to the husband, but in a pretty bad location with busy roads... But money looked really tight, like the very bare bones of our collective asses till I went back to work, and with the location I just didn't know if this was a good idea. We would have paid interest only for the first six months, so actually in fact and without any pretending, renting the house off the bank. No capital gain at all.
And as you can tell by the tone, we didn't get approval for a mortgage, and I feel wonderfully relieved. We had celebratory gins last night because we got turned down!, and we are so looking forward to going shopping again in six months, when I am working again and we can buy a house where we actually want to live. Its going to be so cool. And our asses won't have to be bare.
Posted by Toni at October 20, 2004 09:23 AMYay for not over-reaching! Huge mortgages are scary things.
Posted by: iona at October 21, 2004 10:55 AM