More than half of New Zealand’s first-home buyers are now getting on to the property ladder with less than a 20% deposit – but many don’t realise the costs of…
NZ Herald ·
here we go again, the media blaming young people for not having a deposit. what about the banks printing money and driving up house prices?
bought our first place last year with 10% deposit, yeah the LMI stings but it's still cheaper than renting forever. just do the maths people.
ffs, i'm just trying to buy a house without getting ripped off.
oh great another warning. like we don't already know we're screwed 🙄
these 'warnings' are just to scare people into not buying. if you can afford the repayments and plan to stay put for 5+ years, go for it.
get stuffed. it's a warning cos banks know most kiwis can't afford a 20% deposit now. they're preying on the desperate.
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can someone explain what LMI is exactly? this article is a bit vague.
yeah nah it's called lender's mortgage insurance, you pay it if your deposit is under 20%.
honestly the real cost is all the hidden shit - lawyer fees, building reports, moving costs, and then suddenly your hot water cylinder dies. budget for that too.
lol facts. my landlord raised rent $50 a week this year. that's nearly the extra cost for LMI.
not wrong but like i said, if you can handle it it's better than paying someone else's mortgage.
me and my partner saved for 6 years for a 20% deposit. worth it to avoid extra fees but i get not everyone can wait.
this country is a joke. houses are a basic need not an investment scheme. wake up.
well said, we need more affordable housing not more warnings.
