Government grants

There was a lot of interest when the home builders grant was announced. There was a rush to get things underway before the application expiry date. 

It is so easy to get "hooked" in when something is offered "for free".  When my nephew asked me about this benefit I asked:

1. Do you really need this extension to your house?

2. How much will it add to your loan repayments?

3. Will you get any income from the extra outlay?

4. Have you thought of doing the extras for cash gradually, section by section?

There is a positive and negative for most things particularly when borrowings and interest repayments are involved; not for just the time being, but for another 20 or so years to come.

Often, once the list of questions and probabilities are considered the answer becomes more apparent. It is so easy to get carried away when things sound a bit exciting.

Chapter 4 will give more ideas.