2009
When is a good time to buy my first home?
Filed under: First Home Buyers, Housing Market, Interest Rates, NZ Economy
“Action may not always bring happiness, but there is no happiness without action.” – Benjamin Disraeli, former British Prime Minister
And so it is that most people will choose inertia and unhappiness over making a decision for fear of failure. I’ve been reading a number of blogs recently on property and whether buying now makes sense. There has been vociferous argument from both sides
The mortgage market has tightened up somewhat but provided you have strong income and a stable job history or no debts, then 95% is still an option for you. We now have 4 or 5 different options if you are borrowing over 80%. In all instances they only apply to people with decent incomes –
My Opinion is not yet. There are some really interesting dynamics at play in the housing market and they differ across the country. The biggest driver will be “limited access to credit.” Most of the banks are only lending to 80% now for Residential and 70% for Investment Property. This rules out a lot of
Lenders have pulled-back from lending to First Home Buyers. Our view is that this has created opportunities for Investors to fill the gap and earn good returns (circa 10%-15%.) Each investment is small and you get to choose your Home Buyers. We’ll work with you to minimise the risks
It is a Buyer’s Market. What does that mean when it comes to negotiating the purchase price? How do you make sure you get a great deal? We have written a PDF on this topic which you can download here: Negotiating the Price Price is property and vendor dependent. On one hand less desirable properties
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