The Woes of the First-Home-Buyer

I apologize for the sudden end to my postings. Unfortunately, in the last fortnight, life got horrendously busy. 

How this happened is a little confusing to me, but here goes;

  1. December 2011, our lease ran out.
  2. January 2012, we get an offer to renew our lease. We accept, and sign a form declaring our interest in renewing our lease. Done and dusted.
  3. February 2012, we complain about the huge water bill we were given. This bill was upwards of $1000 for one year – way too much for two adults and a baby to consume, and according to our water corporation, “enough to fill a swimming pool every day”. Our previous rentals water bill for 1 year was $200.
  4. March 2012, a plumber is sent out. He gives the OK to the property, declaring there are no leaks. We persist, calling the water corp and complaining. After nothing further can done by the real estate, we notify them of our intent to call Tenant Aid as we are not convinced the bill is correct.
  5. April 2012, we get a notice to terminate our residency here. Upon my calling and asking – WTF? – we are told that the form we signed was not in fact the lease, but just a piece of paper to say we WANTED to renew the lease. The owner had since changed his mind, and not given us a lease. We had been – unknowingly – living on a periodical lease which he had then terminated with the reason “The owner has chosen not to specify a reason”.

"I smell a rat..."

Now, to me, this seems all a little sus. We had called many many times for the water bill to be looked at over the last 6 months, and this was ignored up until we called the Water Corp ourselves. Then, upon mention of Tenant Aid, we get a residency termination notice? Also, noone ever called to tell us the owner had changed his mind. As far as we were concerned, we had a lease up until July this year. I smell a rat.

And so, with our trust in rentals diminished, the mortgage hunt has begun. “We” being  myself, 20, my son’s father, 27, and my son. We are a single income family as I stay home to look after my son and study. Unfortunately, we can’t get anything better on our wages than a 3 x 1 house built 40 years ago. Which is oh so depressing.

Which leaves us with several options:

1) Save more and get a better job, and continue renting.This is a last resort option.

2) Buy a house and land package, build, and rent for the  year it will take. Better, but still involving the rent rat.

3) Group together with some friends in similarly sticky situations, and see what we can do. Aha!

So that is now the  goal. We have two potential friends who may be interested, and we could just about gather enough income to get a 4 bedroom house to share.Income wise – Done! However, the two potentials have debts which could harm their credit rating… Saga, to be continued!

The moral of this blog….. Gee whizz but buying a first home is difficult!!