who wants to own their own home?

How many of you lot want to own your own home?

The trend seems to be changing.
20 years ago the trend was to get married buy a house and have children (not always in that order)

now days people tend to be renting more
not spitting out as many kidlets
and hmm we know bout the marriage thing.

They're worse than a car thesedays. So many running costs attached. However, there's something primordially attractive about owning one piece of the world.. :p~

i plan to own my own place in 3-4 years hopefully get a mortgage at the end of this year

Defiantely. Hopefully in the next 5 yrs...

Already got one! To be honest I hardly even miss the mortgage payments as they work out to about $240 a week, of which my flatmate contributes $90. So i I only have to come up with $150 a week and I consider that pretty good value considering I'm living in a 3 bedroom house with only one other person.
Downside is that I could only afford a house in Glendene west Auckland but to live anywhere near town you're lookinhg at least $200,00 up and would need either someone to get it with you (partner?) or have about $40,000 deposit if getting it yourself. I'm sure some of you guys could manage that but thats a bit too much $ for me

I own my own piece of Auckland, well *coughs* the bank does, haha

definatly, gonna travel first and then i'll look at that in a couple of years

2Shay, you've just hit the nail on the head! I knew some woman who'd being paying of her mortgage for like 5 years or so and had only reduced the ammonut she'd borrowed by about $100!!! Bank had arranged it so she basically payed just the interest first and then the principle ammount.
Better to just pay like $50 more a week and you'll pull at least 5 years off how long it will take you to pay it back

I would like to own a house in the next couple of years. It would sure beat paying money to rent, at least then the money you are spending is going towards an asset.

I want to, and was do well saving towards it. Then I went nuts, bought lots of things and now... its a bit of a dream now.

heall yeah, i want my own home, trying to save for a big trip at the mo tho, after that will be saving for a house.

Definitley own my own home. I am hoping to buy my first house in the next 2-3 years. Get afew people to move in with me and pay my mortgage through their rent. Give it another 5-7 years and i will do the same again. My goal is to have atleast 3 houses by the time i hit 35.

You cant put a small lighting rig & laser in the living room of your flat now, can you?

itchy- already sliced 9yrs off my mortgage, so im doing ok thanx, I have a four bedrooms so I have chinese students live with me during the school year helps pay the bills.




get a mortgage manager- hint for the day*

This is a sign of the growing division of wealth in NZ. The rich getting richer and the poor getting poorer. All property is owned by someone, with more people renting some landlords are buying more and more properties. If you think of a property as a balance sheet those renting have rent as an expense or outgoing payment decreasing their wealth. The landlords have their tenants rent as an income increasing their wealth. With this increased wealth they buy more (or bigger) property and generate more income. Kinda like Monopoly for those that know it. Buying a run down place or a place with "potential" can be a fantastic way to increase your wealth. I want to own at least 5 houses and be renting them out to increase my wealth.

no house for me - content to live in luxury apartment until I leave NZ for ever and ever...

Travel first, save a large deposit then buy in NZ either in Auckland (Parnell, Newmarket or Ponsonby) or Wellington (definately Mt Vic).

Sometimes it is cheaper/overall financially better to rent and put money into other investments than it is to buy, so remember this! Esp if you buy an old crapped out house that is going to need a heap of money thrown at it.

If I cant afford to buy in the city, then I will buy in the burbs, rent it out and rent in the city.