Thoughts when applying for a Government housing concession

This blog is about looking into the pros and cons of taking advantage of a Government Housing Scheme, which in the particular scheme I am thinking of would require 2% deposit.

The first thing that comes to mind is how much in real terms are we considering accepting to help us, for example;

1. 2% of $500,000 = $10,000
2. 2% of $350,000 = $7000

Once establishing this figure together with your savings, it can be figured out what amount your loan will need to be and if that is feasible.

The second thought is how much one can  afford to pay for on a fortnightly basis?

Are the repayments going to be equal/close to what I am paying my landlord in rent per fortnight at the moment?

How secure is my job, and will my superannuation help to offset the borrowings when I retire?

My last blog discussed the ongoing bills that keep accruing as a home owner.

If you like reading my articles there are more than twenty Blogs to browse through, and adding a Testimonial would be welcome.

Refer to Chapter 6 for more detailed information regarding evaluating a purchase.