It's the second Thursday morning of the month and time for me to check my overall position relative to my monthly target.  So far this month I've attended 8 appointments and I've submitted 5 applications.  One appointment cancelled while I was on my way to see them and the other 2 simply aren't ready to proceed yet.

I'm happy as I'm on target, and since my last post about the number of appointments I'd set myself for the month in the first week, a few more appointments have been set simply from referrals. 

I've noticed lately that a lot of people are surprised when I talk with them about buying vs renting.  There are many people out there renting who don't realise that in many cases it can actually cost less to buy than to rent. 

I spoke with a lady yesterday who was asking about a personal loan.  She is on a pension with two teenage children.  When I found out how much she was paying in rent every week I was surprised.  We talked about her monthly expenses and then I ran her details through some of our calculators.  She qualified to buy a very modest unit or townhouse in her area and in the process, based on today's fixed rates, not the lower variable rates, she would save herself close to $60 per week.  This lady had resigned herself to never being able to own her own home, however as we discussed her situation she told me that it was the one thing that she had always dreamed of doing.

I was very careful to point out that her affordability would only allow her to buy a very cheap, modest home - however she was thrilled.  She spoke about the area she currently lived in and told me that being able to actually own any home, regardless of how modest it was, would be a dream come true for her.  And fixing the interest rates in for 3 years would give her the peace of mind to know her expenses while she got her children through high school.

It was really refreshing to speak with someone who understood that a first home won't have all the bells and whistles.  Most first home buyers I speak to seem to have expectations that exceed the characteristics of even the home I live in today.  I have to wonder about what ever happened to starting off small and working your way up.