I have checked the deposit and estimated closing costs for the accepted offer, but the inspection costs are still the unknown. The property is a 2-bed Brisbane condo at about A$577,600, and the current estimate leaves me with A$56,240 after settlement.
Because we lost several earlier properties to cleaner offers, I do not want that experience to push me into treating all of this cash as available spending. My plan is to protect an emergency reserve first, then allow for moving, the first mortgage payment and immediate inspection-related repairs. Furniture could be added gradually.
How much of the A$56,240 would you keep completely untouched, and at what point would the inspection findings make you reconsider the purchase rather than reduce the buffer?
Because we lost several earlier properties to cleaner offers, I do not want that experience to push me into treating all of this cash as available spending. My plan is to protect an emergency reserve first, then allow for moving, the first mortgage payment and immediate inspection-related repairs. Furniture could be added gradually.
How much of the A$56,240 would you keep completely untouched, and at what point would the inspection findings make you reconsider the purchase rather than reduce the buffer?