Govt scheme helps Kiwis become home owners

22/10/2012 10:02:32 a.m.

billy wrote:

Welecome home loans what a load of crap. They made my life so stressfull, they kept on coming back with more and more conditions with the house that needed repairs, minor stuff I thought, wlecome homes loans a waste of peoples time and money.

3/09/2012 1:51:03 p.m.

CAROLE wrote:

Home owners can only be so if they can afford it and save while they are young. This doesn't happen because the reality of it all is that want to have fun and travel and so on. You only have to look abroad to realize that a lot of countries people do not own and never shall simply because they don't want the debts and prefer to live for today. With the rates and water sky high and wages low nothing is really going to happen. I worked in Germany and found that houses were rented in the towns but outside in the country where cheap houses existed they were bought.

29/08/2012 2:33:35 p.m.

mj wrote:

This government sold us out to Carbon taxes, wait until that bites and we will see who can actually afford to buy a house! we ain't seen anything yet.

10/08/2012 6:05:01 a.m.

Moera wrote:

There are many pros and cons between renting and buying a home, but I wouldn't like to lose my home because I had lost my income through an uncontrollably event. IMO investing in a first home without having any financial security such as a deposit or without any finance at all is taking an unnecessary risk. A risk where the possibility of failure, I believe, is very high. There is no security in todays economic situation, especially when the 'Here now and gone tommorrow' belief is very much alive and a reality for some families. What is the Govt trying to do?? I would hope that NZders do their homework very thoroughly before nibbling at this juicy carrot.

8/08/2012 8:49:39 p.m.

Lee-Ann wrote:

Its very easy to middle income earners or small familites to say "you should of had some sort of savings". I live from wage to wage, scraping by as you want to give your kids a good upbrining. My kids dont have iphones / ipods etc but they have good clothes, good home cooked food every night etc. They get to go on school trips I always make a plan to come up with the money. Everytime I think financially am coming right then something goes wrong such as car stearing bracket breaks, camera needed for school, sports uniform needed etc. Wish people not judge unless they have lived on the breadline!

8/08/2012 6:51:14 p.m.

Angela wrote:

Govt scheme helps kiwis become home owners.What a load of rubbish.We are are young family of 4 with a fulltime permement job & part time job.Last year my mother brought a house for us till we could get all the paperwork sorted as this house was going so cheap at 240,000.00 & was just around the corner from school.Unfortunately my husband was forced out of his job of 1yr 8mths so we could not finish buying the house.My mum has managed to keep house until now while my husband looked for fulltime work.He went through agancies but could only get full time casual which they would not except.Until 3mths ago when he finally found a fulltime permanent job.So once again we started the long paperwork process,we have reduceed our debt to pretty much nil & have double the deposit we need in kiwisaver.We both have good payed & stable jobs as stable as jobs get these days.We have payed out just under $1000 for RV's everytime we tryed to sort out house buying only to get told this time it has been deferred for another 6mths because my husbands job is not stable enough.Not only would we have to go through finding another $350 for another RV but my mother cannot afford to keep house for us as she has a mortgage of her own.So we are very upset & devastated as we have always worked hard & now the thought of our dream first home has gone.The house will have to go back on the market & at the moment we have no where to go to.We have done some work around the house to tidy up & now have to watch our house get sold.This really sucks & we have had nothing but brick walls put against us in our bid to own our own home.It's not as easy as people think.

8/08/2012 12:18:41 p.m.

tony wrote:

You should of had some sort of savings.Yes i spent my savings like this guy probably did but i have a great super scheme i could use for a home deposit of 20%. If you get into negative equity then you wished you had a bigger deposit.

8/08/2012 11:24:10 a.m.

Mike wrote:

Renting is cheaper than buying, Campbell Live’s proved that last week.

8/08/2012 7:47:30 a.m.

Mike wrote:

Again, the new home owners found it cheaper to buy than to continue to rent which differs from the pet economist view. Even before add in the rising value in property over time.

Also a renter can be moved on, while an owner who pays the mortage will not be.

These people had been renting for 8 years so they had lower rental for the house from thier renting so long, while renting another property would see a rise in rent, as would a change in owner, and possibility they could be moved on by a new owner.

Dont set your sights on million dollar tastes and owning your own home is affordable.

If own, you will probably look after the place better than did while renting, eg they did some painting etc to make it look better.

Here we have 2 people not on high incomes and they can still afford. Or should we say, they couldn't really afford not to buy when compared to new rents! The main difference was they looked into rent vs buy and by doing it themselves, found that buying was cheaper. As time goes by, rents will have increased, but they will pay off mortage and the mortage cost will go down. ie it will get cheaper over time, a factor also ignored by the economist.