The past few days have seen my parents pushing me to buy a house. It’s not because they want me to move out, or because I want to move out. It’s because of the government increasing the first home buyer grant to $21,000, and at a time when interest rates have fallen.
My parents are chipping in a little for the deposit and we are looking to get a piece of land, and a house built on it for around $380,000 – $400,000.
To be honest, they are more keen on the idea than I am. They are old school when it comes to home ownership, and think that it is essential for a person to own a place of their own. At first I had told them that I’d get a place when I marry someone because it’s easier to pay off a home loan when there’s double income. But in light of the government’s increased incentive, and plus they are willing to help me out, I’ve basically ran out of excuses not to buy a house.
A house would be a part of my long term investment plans I guess. Rather than letting the bulk of my money sit in a high interest bank account, I will be dumping it all into buying a house. I think that’s probably most daunting for me, the sudden loss of financial liquidity that would be a result.
Although, what’s also exciting will be choosing my own design, fittings and furniture. And electronics and appliances. All of which are costs on top of the price of the house and land. Hopefully, my ability to enjoy my social life will not be affected. That’s all I care about really. I’ve got the right priorities, right? 😛