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Good to see keen young couples getting into their own home.
Couple thankful for rent-to-own scheme
It's less than a year since Auckland's first Special Housing Area was announced in Weymouth and a young family is ready to move in.
Wirihana Takuira and Lisa Myers have put their wedding plans on hold to buy a house.
They are moving into their new four-bedroom home on September 19 and are expecting their second child soon after.
"We're only in our mid-20s. We never thought we could afford to own a home," Myers said.
"The Housing Foundation really helped us. We simply wouldn't be able to buy a house without them."
Takuira and Myers are using the foundation's rent-to-own scheme. They will initially pay rent but over the next five years the payments will change to go towards paying off the mortgage.
Hi there,i reckon the National,should fund property developers,so we can create a multi unit complex,for affordable accommodation for young people who cant yet afford to buy their first house.
Hi there,i reckon the National,should fund property developers,so we can create a multi unit complex,for affordable accommodation for young people who cant yet afford to buy their first house.
You mean taxpayers pay for houses for people? We have state housing for that, failing that you scrimp save to get a deposit and by your first house yourself.
Hi there, yes state housing,just dont have enough houses for people in need, and therefore these people have to pay high rents which affects their saving for a house deposit.
And if the government gave funding to people who think outside the box and create affordable housing, to accommodate those people who are NZ HOUSING waiting list over a year.
Plus NZ HOUSING seems to give preference to families,so single people in need are missing out.
From the above news item:
"Housing NZ minister Nick Smith's office said speculation was not seen as a big problem because generally first-home buyers were not speculators."
I would say that generally most first home buyers are speculators.
They are buying their first home at the level they can afford right now, and hope to sell again in a few more years making enough profit that they can move up to a better house.
Housing NZ financial operations manager Matthew Smith said first-home buyers using KiwiSaver for a deposit could be made to pay back their subsidy with penalty interest if they were caught breaching the rules. They would be required to remedy the breach or pay the subsidy back with penalty interest charged at a current rate of 5.75 per cent.
Monitoring of the scheme should be strengthened to help stop people ripping off the system in order to buy a rental.
Those guilty of doing so should also have it recorded on their credit record, so that banks know who they are dealing with in future.
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