Wednesday, October 1, 2008

Purchasing a $500,000 home in Sydney, Australia

However, it's not for me. The home I'm purchasing in Sydney is for my mother. After living in the United States for roughly 30 years, my mother has decided that she wants to be with her family in Sydney. This move isn't going to be easy by any means. The home costs half a million Australian dollars, shipping the furniture will be another $10,000 and this is just the beginning. I'm sure there are going to be other costs that we overlooked.

It's a tough call. What I mean by this is that I want to make my mother happy and buy her the home of her dreams. On the other hand, I could possibly drown in debt. Not only will I be responsible for the mortgage in Australia, but also a couple of mortgages over here in Southern California.

I need to analyze all of my debt and monthly obligations to see if this is even going to work.

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