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  1. #21

    Default

    That is a good point about the deposit, didn't connect the dots on that one. And as Wayne says, less inclined to move around, so wouldn't that support buying over renting?

  2. #22
    Join Date
    Jun 2004
    Posts
    4,321

    Default

    I think the rent or buy arguement changes with age and stage of life. I can't imagine my children buying at the moment as they don't see themselves settling here. They want to go overseas and learn some more, see some more. I purchased at 22 but maybe I was always a nester? That doesn't mean I haven't seen the world (and a lot more to see) but many young people will rent. As you age security probably becomes more important, the thought of renting at 60 scares me a little. I have read that the pension is sufficient to live if you don't pay rent or a mortgage.

  3. #23
    Join Date
    Sep 2010
    Posts
    230

    Default

    force your kids to buy a property before they go on oe...know too many that dpent 10+years overseas spent money travelling in pubs etc only to be bashing their heads against the wall upon their returb to nz...one friend bought couple of places before going on oe topped it from good uk salary and now has five properties here in nz mrtg free....same age wish i have done the same...he might not return to nz but can always sell up....
    Last edited by Perry; 28-03-2012 at 06:55 PM.

  4. #24
    Join Date
    Jul 2011
    Location
    Tauranga
    Posts
    2,010

    Default

    I had a rental when I went and did my OE.

  5. #25
    Join Date
    Mar 2007
    Location
    Auckland
    Posts
    1,719

    Default

    Don't forget that when you rent as well as getting a roof over your head you are also employing someone to not only pay the rates, insurance and water charges but also handle all the paperwork hassles involved, organize and pay for electrical and plumbing repairs, pay for ongoing maintenance and also organize and pay for paint paper and floorcoverings replacements as and when they become necessary and gaining someone to berate, moan about and abuse as you feel like.

    In effect not only are you gaining accommodation but also a servant.

  6. #26

    Default

    Quote Originally Posted by WaterfrontNZ View Post
    I do not look forward to this kind of thing at all. I myself am young, and to enter into a job, and to start trying to afford a place like this to live, it's going to be near impossible. Renting is meant to be cheaper than buying and having a mortgage, however at these kinds of costs, I am never going to be able to get a kick off the ground. Does that mean I will have to move elsewhere? As another poster said, chances are these kinds of pricings will spread out of Auckland as people look for work and housing elsewhere, the price trend will move with them.

    Not a nice prospect.
    Firstly, renting is now not always cheaper than owning if you are fexible and save a decent deposit. Secondly landlords need to be careful about putting up the rents massively- there are properties still not renting if the property is not maintained or suitable for the young and not-so-young professionals who can afford it. From what I have seen, the run-down and neglected properties with increased rents are empty for weeks before lowering the rent again. I lived in real dogs at cheap rents to save my deposit- and had many flatmates in bad areas (teachers are good and not fussy) so I'd advise leaving central Auckland and commuting, if you are serious.


 

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