Discussing :: House prices!! I hope one day i can afford my own house.


House prices!! I hope one day i can afford my own house.

Without being to negative i wonder how people with a mortgage manage on top of daily living costs.


Good luck to you!

I recently bought my own home...The hardest thing I found was getting the deposit together! Kiwisaver and savings only got me part way there and I had to get an extra loan from a family member to cover the difference otherwise I would have been waiting another 5-10 years saving the rest probably (and yes I have to pay it back). One bank still declined me but another one took a punt and it is paying off for them now. I have three kids and my partner is only working part time but we manage. I highly recommend paying rates weekly/fortnightly/monthly the same as your mortgage payments. We have friends that struggle every time the bill comes in but we don't even notice it because it is basically paid in advance.

If you are wondering whether you can afford it - try finding out what the cost would be for you to get a loan and pay the difference between that and your current rent into a savings account. If you dip into it all the time, you can't currently afford that level of a loan. If you can keep that up for a good amount of time, not only do you know you can afford it but you are starting to build up a bit of a deposit as well. That's what I tried to do and it helped me.

Letting the landlord know you will be moving out is pretty awesome!


Yea tell me bout it .i have my own house now and i know in the long run its the better option but its seems like you never really get to have much money left over after you pay off all your bills and the cost of living.Are we getting towards a world when soon the average people will only be able to afford to "get through"......


We bought our house just before the housing boom, so it was great as our house doubled in value within 6 months. It meant our payments have always been quite low as the interest rates just kept falling, probably less than it would cost to rent. Just lucky timing. But rates and insurances are starting to hurt a bit. we cashed up some of our Super Scheme and sold our near new car to get the deposit. Well worth it to have a place of your own and not have to worry about anyone telling you what you can do or have at your place


It's definitely getting harder for us to be able to afford it, it is possible though, but it involves being realistic - don't set your sights too high. Start with something affordable a unit perhaps and work up from there. Also do your homework. Good luck


I would have no problem paying a mortgage, but I can't get one because I don't earn enough. Ironically, the mortgage on the house I wanted to buy would be less than what I'm already paying in rent. Doesn't make sense to me...

I've given up planning to ever own a home. I'm okay being nomadic :)


House prices are a joke... it's all good if you already own one and move on, but if you're just starting out it seems impossible to afford your own place. The greed needs to stop... the house should sell for it's government valuation and no more.


I too HOPE that i'll have my dream house and my only way to make that a reality is to win from Lotto!

(Sadly) I belong in this group with you too. Good Luck.


Good luck! I jumped into buying a house when I was really young as my flat got burgled & was having a hard time finding a rental, at least interest rates are low now! was 12 to 14% I think when I bought my place? Was lucky to live on the smell of an oily rag & chuck all my income at it while I had a job before the recession kicked in 5 years ago as I had paid it off then... After closing down my business in June I find myself jobless but not homeless! Lucky the house prices were cheap when I got in, the lady across the street from me paid $110,000 in 1995 & in the cbd! I should have grabbed on at Mt Maunganui by the beach as they were so cheap then too!


We want to buy a house but we are nowhere near getting a deposit. All our money goes to rent, food, power etc and whatever savings we get ends up being used for birthdays and christmas.


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