how much are mortgages?
Could anyone let me know how much in $$$'s does someone pay per month for how much -$$$,$$$'s of mortgage.
Perhaps someone could also let me know what percentage of weekly income is spent on housing (be it rental or buying). I know I'm pushing my luck here,...but how far away can you get from Auckland (Northwards), to live, and still be able to work in the area classed as North Auckland within say a 15-30 minute drive. Looking forward to hearing from you all Kind regards Nick:huh: |
Re: how much are mortgages?
Originally Posted by Riverside
(Post 6854295)
Could anyone let me know how much in $$$'s does someone pay per month for how much -$$$,$$$'s of mortgage.
Perhaps someone could also let me know what percentage of weekly income is spent on housing (be it rental or buying). I know I'm pushing my luck here,...but how far away can you get from Auckland (Northwards), to live, and still be able to work in the area classed as North Auckland within say a 15-30 minute drive. Looking forward to hearing from you all Kind regards Nick:huh: |
Re: how much are mortgages?
Originally Posted by Riverside
(Post 6854295)
Could anyone let me know how much in $$$'s does someone pay per month for how much -$$$,$$$'s of mortgage.
Perhaps someone could also let me know what percentage of weekly income is spent on housing (be it rental or buying). I know I'm pushing my luck here,...but how far away can you get from Auckland (Northwards), to live, and still be able to work in the area classed as North Auckland within say a 15-30 minute drive. Looking forward to hearing from you all Kind regards Nick:huh: Hey Nick Try browsing this site, http://www.sorted.org.nz/calculators there are lots of online calculators there for all sorts of stuff including mortgages and other info on money matters. HTH ;) |
Re: how much are mortgages?
Originally Posted by Riverside
(Post 6854295)
Could anyone let me know how much in $$$'s does someone pay per month for how much -$$$,$$$'s of mortgage.
Perhaps someone could also let me know what percentage of weekly income is spent on housing (be it rental or buying). I know I'm pushing my luck here,...but how far away can you get from Auckland (Northwards), to live, and still be able to work in the area classed as North Auckland within say a 15-30 minute drive. Looking forward to hearing from you all Kind regards Nick:huh: if by north auckland you mean north shore city the furthest north you cuold live and be within about 30 mins is prob orewa. Most of the east coast suburbs in north shore city are nice, browns bay etc |
Re: how much are mortgages?
mine is $614 a week on $350k, not a lot left from one persons salary.
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Re: how much are mortgages?
Something else to think about... The banks are beginning to tighten their loan regulations. It may become increasingly difficult to obtain a mortgage.
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Re: how much are mortgages?
Originally Posted by Hokey-pokey
(Post 6861579)
Something else to think about... The banks are beginning to tighten their loan regulations. It may become increasingly difficult to obtain a mortgage.
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Re: how much are mortgages?
Originally Posted by kev&sarah
(Post 6862043)
An article I read last week, said that the Banks are generally looking for a MINIMUM of 20% deposit now, which I should imagine is pretty much beyond the reach of most 1st time buyers here ( come to think of it, 2nd and 3rd time buyers too :blink:)
So the banks, having been reckless for years, are now being too conservative - so what? Rent for a while, enjoy the sun, and buy in a few years when the interest rates are down, when the banks are begging you to borrow money and the houses are cheap. It WILL happen - always does! |
Re: how much are mortgages?
Originally Posted by Scouse Dave
(Post 6862066)
I remember the "Black Wednesday" crash in the UK in 1989 - interest rates went through the roof, everyone predicted the end of the World. Yet we're all still here.... ;)
So the banks, having been reckless for years, are now being too conservative - so what? Rent for a while, enjoy the sun, and buy in a few years when the interest rates are down, when the banks are begging you to borrow money and the houses are cheap. It WILL happen - always does! |
Re: how much are mortgages?
Originally Posted by Riverside
(Post 6854295)
Could anyone let me know how much in $$$'s does someone pay per month for how much -$$$,$$$'s of mortgage.
Perhaps someone could also let me know what percentage of weekly income is spent on housing (be it rental or buying). I know I'm pushing my luck here,...but how far away can you get from Auckland (Northwards), to live, and still be able to work in the area classed as North Auckland within say a 15-30 minute drive. Looking forward to hearing from you all Kind regards Nick:huh: There are so many good properties on the market now to rent in Chch, 'better' houses that are new or that have been done up for sale but haven't sold. I looked on TradeMe yesterday and couldn't believe the 'low' rental prices being asked for some of these houses that I'd only recently seen on the market for sale. If a $350K mortgage alone is at $600+ per week, and you can get a $600-800K property to RENT for that much or less (here in Chch)... easy choice right now. Presumably the same or similar situation exists at the moment in Auckland, as AUckland has been harder hit I believe with falling house sales/prices than Chch. As an example for Christchurch in one of the best areas (Cashmere): http://www.trademe.co.nz/Trade-Me-Pr...-180151427.htm I'm pretty sure the above property was for sale at around $700+K, now asking a rental of $600 per week. No rates to pay, no insurance, no maintenance/upkeep, no worries - that's the way to live in NZ, believe me! As long as you get a GOOD house, of course. If you're OK with a new or newer house in a subdivision (which should mean full insulation, double glazing, new kitchen/bathrooms, USUALLY a reasonable heating system, though even many of the new homes here don't have heating in the bedrooms and hallways, etc) then you'll have a good chance of 'having a life' from the get go.... |
Re: how much are mortgages?
Definitely right- rent here rather than buy but be very wary of what you rent, particularly if coming out over the next 8 months as everywhere looks lovely in summer. We rented a gorgeous villa in January and loved it- until August! You won't believe how poorly prepared some homes can be for NZ winter.
Mortgages are scandelously expensive here. |
Re: how much are mortgages?
Originally Posted by Black Sheep
(Post 6865630)
http://www.trademe.co.nz/Trade-Me-Pr...-180151427.htm
I'm pretty sure the above property was for sale at around $700+K, now asking a rental of $600 per week. |
Re: how much are mortgages?
Originally Posted by cypherpunk
(Post 6866855)
Yes it went to auction in July, failed to sell, then they tried to sell it at $735k for a couple of months. It's still on the Harcourts and Open2View sites. It is ridiculously overpriced though, its CV is only $500k. There's no way they'll get $600/week rental for it in Christchurch right now either. A lot of homeowners are going through the same cycle at the moment, which is why there's a lot of rentals on the market.
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Re: how much are mortgages?
Thanks Guys for all your answers...it makes a huge difference to hear from people actually 'on the ground'
Nick:D |
Re: how much are mortgages?
Originally Posted by cypherpunk
(Post 6866855)
Yes it went to auction in July, failed to sell, then they tried to sell it at $735k for a couple of months. It's still on the Harcourts and Open2View sites. It is ridiculously overpriced though, its CV is only $500k. There's no way they'll get $600/week rental for it in Christchurch right now either. A lot of homeowners are going through the same cycle at the moment, which is why there's a lot of rentals on the market.
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