It looks like my plan to use the govt. 5% deposit guarantee scheme won’t work out. They make you use all of your savings, so I won’t be able to keep aside enough money to do the maintenance (like restumping) that a house of the age I’m looking at is going to need. I guess it’s back to paying mortgage insurance and/or asking for help from family. Frustrating.
It looks like my plan to use the govt. 5% deposit guarantee scheme won’t work out. They make you use all of your savings, so I won’t be able to keep aside enough money to do the maintenance (like restumping) that a house of the age I’m looking at is going to need. I guess it’s back to paying mortgage insurance and/or asking for help from family. Frustrating.