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.
In the current market, it has become harder for first home buyers to get a mortgage. Lenders almost always require a 20% deposit. Your parents can help by topping up your deposit or they can act as a guarantor. Deposits Parents can gift you a deposit, but often they will want to avoid the tax
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