The Good News & The Bad News
The good news...We found the perfect house! 4 bedrooms, 1 huge family room and a small office to get the computer out of our bedroom. It needs a bit of work but not major reconstruction. It is habitable from the start just needs some TLC as it was run down. We loved it.
Yeah that's right loved it. We put 2 offers in and I think you can pretty much know what the bad news is now...we lost it. By only a few thousand dollars too. We just couldn't find the rest of the cash anywhere.
It's no mansion by any means and it's not in "THE" nicest part of town but we still cannot afford it. Brendon is really starting to get depressed. He makes a very nice salary and in New Zealand he still cannot buy a house. He's getting to the point of not wanting to look for anything anymore. I'm finding it harder and harder to keep the positive momentum going for him too. The glass is starting to trickle to the 1/2 empty bit for me too, this sucks!
12:39pm
This just seemed appropriate to add with this post as I just found it as a top news story on our homepage.
Research by AC Nielsen for Wizard Home Loans shows a 12 percent drop in home ownership in the year to March
31 July 2006 Owning a home is becoming the impossible dream for an increasing number of New Zealanders.Research by AC Nielsen for Wizard Home Loans shows a 12 percent drop in home ownership in the year to March. It is even more difficult in Auckland where home ownership has fallen by 26 percent.Wizard's national director John Grant says his company be looking at introducing new initiatives such as shared equity and investment properties to make home ownership more affordable. He says soaring house prices and low incomes are putting home ownership out of the reach of many people. © 2006 NZCity, NewsTalkZB
posted by Michelle @ Monday, July 31, 2006
2 Comments:
Sorry, Michelle. I simply can't believe the prices of houses in NZ these days.
I know we were so very fortunate to buy our house in 2000, because there is NO WAY we would be able to afford one now. And we earn a pretty decent amount between us. I'm glad we have the house, but now we can't afford to do anything else. We need new cars, but that isn't going to happen until we've paid at least 10-12K off the mortgage.
I wish it were easier for NZers to buy and own their own homes. And to pay them off afterwards!
I hope you are able to find something you can afford, and that you will be happy there.
Sorry, Michelle! How sucky! And it's not like you are living in an expensive town either! And why are high prices so high???? What makes them high??? Who says a 3 bedroom and one bath is worth $450,000???? I don't get it. Like I said before, I reckon we will always rent here which sucks cause it's not what I want.
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