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Showing posts with label home ownership. Show all posts
Showing posts with label home ownership. Show all posts

Wednesday, January 16, 2008

What I did not do at the Office Today


With school holidays in full steam, I am balancing work and home life precariously. This morning I proved my full navvy abilities by creating two garden beds using a tool very like this one. The goal is to reduce the lawn area and to allow for drought tolerant plants to be taken out of pots and planted where they can soak up the sun and look good. Our new house has virtually no shade unlike our last one. We also have very restrictive watering allowances, with watering using a hose only allowed for a few hours once a week. Radical horticultural plans were required. Stupidly I volunteered, thinking that the alternative using a shovel would be longer and more tedious, especially given how dry the garden is.

I can recommend that if your partner suggests the same thing that you pass and claim that it is too difficult and that we really need to hire someone. My upper body is still aching. It is amazing how you get into a sedentary mode, with the only parts of your body moving at work are your fingers, with extra exercise from the walk to the kitchen. I am quite out of shape, which is good and an excellent reason for sticking with my day job.

The end result is very good however with the addition of large volumes of mushroom compost, which the dog really appreciated as he rolled over and over.

I am now in the office doing the night shift, glad that I don't have to do that again and aching slightly. Next up retaining walls, moving the pool pump and a long list of smaller projects that seem to be part of the duties of the male of the house. I shall also be sure to be a good boy. I don't think that I would last long in hard labour.

Saturday, December 01, 2007

Real Estate Code Words Mask the Real Story

With the flooding of the real estate market in the US, there is more pressure on real estate agents to talk up properties. I have always been interested by the phrases that are chosen to describe a property. Here is a good primer.

I was driving around our neighbourhood today and there are quite a few homes on the market. It is very boyant here in Adelaide. We just bought and the real estate agent and the loan broker were saying that there is a shortage of houses on the market, which is driving up prices, especially in an optimistic market. Adelaide prices are cheap compared to some of the outrageous prices in the other states. There were quite a few "Perfect Starter Home" and "Great First Home". All this for around $300K with at least $150K required to make the home liveable, based on our own real estate search.

Having just gone massively into debt again it boggles my mind how some new entrants can get into the market. We have a fairly solid combined income, but even then our mortgage payments will be double what we currently pay in rent. There is not the same certainty that there is in the US with 30 year fixed. The longest here is about 5 years and that is around 8 percent now. Although many people have done well with property investments in the last 10 years, it is painful to enter the market now.

That said it is nice to have your own home. We are looking forward to everything except the mortgage payment and physically moving.