Everyone loves a feel-good story and we get to experience many with people getting into their first home! We will NEVER get tired of our clients’ excitement, gratitude and happiness!
While we have the ‘yay we got my first home at auction’ stories, the ‘I didn’t think I’d actually be able to get a mortgage’ story, the ‘I’ve been saving for a million years and finally got a deposit for my mortgage together’ story – the one I want to share with you is a story about a lovely couple with a severely asthmatic child and getting them into their first home.
After renting for years, both working full time jobs, coping with a sick child, and trying to just do life as best they could, they contacted us as their rental situation was coming to an end (the owner wanted to move back in) to see if they were even marginally close to getting a mortgage and a first home to provide security for their small family.
After a good in-depth discussion around their finances and needs, we ascertained that with using their KiwiSaver, HomeStart grant, their own savings that had taken them years to get together plus a monetary gift from the parents, we were able to successfully apply for a mortgage pre-approval.
They had specific housing requirements among which included good ventilation and insulation due to their child’s serious asthma problems, being close to the hospital for those cold nights they had to get there quickly and staying near the primary school their child attended.
Once they were advised an amount they could borrow up to, they eagerly began their search going to open home after open home... after open home. Feeling defeated about the number of applicants at the open homes and the number of houses they liked going to auction, they finally found a house that met their needs – this was after a good couple of months of searching.
While it WAS a house that was going to auction as opposed to a set price, they were invited to make their best offer (subject to a builder’s report) and held their breath. It ticked all the boxes and then some with additional features they hadn’t even thought of. They paid for a builder’s report and a registered valuation, which set them back about $1200 for both, but they had a good feeling, they liked the agents they were dealing with, they felt so excited… and it all worked out! The vendor accepted the price and that fact the proposed settlement date worked out for all parties was a bonus!
While the application itself can sometimes be tricky and complicated and a lot of communication goes on between us and our clients, celebrating these victories are what makes our jobs so awesome and amazing! Our clients now have a lovely warm home, they can relax knowing they have security, the repayments are slightly higher but still within their budget, they are investing in their own wealth and they are so happy with their home/castle!
ALL THE FEELS RIGHT THERE!