Teaching went well today. The senior class all added a few layers of paper mache to their masks, so they should be hard enough to paint next class. The preps and 1s did colours (using all my cute crocheted colour critters) and then their animal of the week, which was Jerapah Jerry (Jerry Giraffe). The 2s did the second page of their Tentang Saya (About Me) books, which was about their family. The 3s and 4s did money as part of their unit on shopping – they learned that Indonesia’s currency is the rupiah, and that 1 Australian dollar is equal to 10 000 rupiah. I took in my bag of Indonesian currency and they had a great time bundling it up and pretending to be millionaires and then being amazed that it was only worth 75 cents or something. We also did a review of numbers for the last 15 minutes, since you can’t count money without knowing your numbers. I bought out my tambourine to get their attention and sent two kids out of the class, so it was slightly tempestuous, but overall it was a positive class.
Troy and I went to the bank to talk about our borrowing capability this afternoon, which turned out to be a somewhat disappointing and frustrating appointment. They’re changed the lending criteria since we borrowed for the cost of this house, and under the new rules the amount they will let us borrow is actually less than what we already owe them. And since you can’t roll over a loan to a new house (have to pay out the existing loan, then start a new one), we’re not really in as good a position as I thought we were for a new house.
We can probably still afford what we’ve been looking at, but it’s not as simple as I’d hoped, which is disappointing. If we sell our house first the finances will be easier, but then we have the issue of living somewhere for whatever period of time there is between settlements, and the costs and issues associated with storage of furniture etc. So it’s not necessarily a better option. Right now, I really don’t know what the best way to go is. Troy is going to talk to the mortgage broker at work and see if he has any other options for us.
We’re going to keep looking at properties though. The houses we’ve been considering are definitely still possible, so we’re not ruling that out and will continue to look at the big houses in that price range.
We could also go in the other direction, and look at cheaper houses that aren’t quite what we want, but that could be renovated/ extended/ altered in some way to fit our needs. This was already something that we’d talked about, but with the borrowing issues we hit today it might turn out to be worth more consideration.
And actually, the idea of the ‘not-ideal’ house took a big jump for me today because I found the best house! It’s a crazy house- it’s got a new kitchen, but everything else is brown slatted doors to a million cupboards, archways everywhere, total brown and white 80s carpets, wall lights, saloon doors to the walk in robe (!!!), clashing tile in the bathrooms, a built in bar…as soon as I saw it I was enthralled. I mean, it’s such a time warp and kind of awful, but at the same time I can totally see it being our house, and with a bit of work and a few (well, quite a few!) changes I think it could be great. It only has four bedrooms, but they’re big and Jericho and Soren could still share. The big drawback is that it doesn’t have an office space for Troy, but with it being so much cheaper than the other houses we’ve been looking at we could get a small backyard cabin to be his office. It would also be an easy house to add an extension to if we wanted to do that later on.
So, even though talking to the bank gave us some answers, it’s unfortunately not as straightforward as I would like! Still, we’ll see how things go. We’re going to go to two open houses on Saturday (one is probably too expensive but I still want to look at it, and the other one is the crazy time warp house) and hopefully we’ll be able to make an appointment to see a third (one of the ones we weren’t able to see on Tuesday), and maybe after that we’ll have a clearer idea of what we want to do.
Although, I have to say that I can’t get over the fact that they won’t lend us the amount of money that we already owe them! I mean, the guy was sitting there saying that the most they could lend us was X amount, and we’re like….but we already owe you more than that? And we’ve been paying it down without ever missing a payment for eight years? It’s so weird!
These are the houses that we’re going to look at on Saturday when they’re open for inspection.
http://www.realestate.com.au/property-house-vic-alfredton-124550346 This one is probably a bit expensive, but it’s an open house and you never know, so we’re going to look at it.
https://www.domain.com.au/12-avoca-crescent-alfredton-vic-3350-2013492974 This one is the funny time warp house – it was newly listed today.
http://www.blueribbonballarat.com.au/index.cfm?pagecall=property&propertyID=3160481 We’re not sure about this one, we’re hoping that we can get an appointment but this was one where the vendor was sick so they may not be ready for inspections yet.