NZ 1st homebuyers are ScReWeD...

**Crypto Crude** · 08-03-2009, 03:57 PM

well GGG,
You will get below 5.5% probably quite easily one would think...

the OCR is at 3.5%...
this coming thursday there is an OCR announcement...
likely to be 100 point cut slaying...
down to 2.5%...
could be 50pts to 75pt cut....
more likely 100 I reckon....

OCR now likely to keep falling to 2% or even 1.5%....
wait wait wait before you want to fix...
later...

.^sc

**The Doctor** · 08-03-2009, 04:01 PM

still plenty of land available in NZ...section prices plummeting,cost to build will drop.

**upside_umop** · 09-03-2009, 12:02 AM

Originally Posted by Shrewd Crude

Hey upside,
we should catch up soon....
im not sure if your in kiwisaver or not... IF not get in right away dude...
we are in for one cheap house...
check this out...
if we are in kiwi saver for 3 years then we can get a 5k subsidy from the government, making a total contribution of 10k....
5k can come out of our funds but reducing the size of our funds...
Ive been in one year plus a few months.... im going to wait two years until I buy...
brain haemorrhaging until then...
we need a doctor, this is so sick...

.^sc

hey shrewdy dudey,

im back online....i went all out and bought a new macbook + cinema display from apple the other day....gives a great experience thats for sure and ill start posting a little more again.

yeah should catch up again soon, im still in the same flat this year, what about u?

im in kiwisaver, but it does have its restrictions on buying the first house...ie price limit 250 k i think? then it restricts you to certain areas...

other than that, kiwisaver is a sweet deal. i do it just as a little bit of diversification, and dont think ill really notice the 4%.

**Crypto Crude** · 09-03-2009, 12:36 AM

hey upside,
I gave up that flat...
the flat dudes (not mates) were chumps and barely spoke to me (apart from one)... even though I was so nice and happy....
the place was a jungle...
the neighbourhood was full of rats...(human junkies)...
I moved over to barrington with some mates of 5 years...
Chinas off, it all fell through in the end even though they told me I had the job...
I will put a post up on the 2009 market thread soon explaining......

I hadnt heard of a 250k house price limit for KS...
dude...250k... mate, that will be like the 350k house of two years ago, in two years time....
we would have been buying average houses, soon we can buy manisons for that...
starting in the housing game at the top... hahahha....

narh.... im probably looking around the 200-250k price near fendalton, Merivale... as long as I dont have to buy in Ilam then I will buy anywhere...
KS restrictions on areas...?
I will do some snooping shortly...

.^sc

**minimoke** · 09-03-2009, 10:01 AM

Originally Posted by Shrewd Crude

hey upside,
I gave up that flat...

Ah, there you go Shrewdy, if you’d’ bought that first home you wouldn’t have had to move because of the flatmates – you would have move them on.
As for Kiwisaver you’ll be able to spend $300k on a house in Christchurch (Auckland and a couple of other places is $400k) – but the rates will be changed closer to the time people start buying.

Couple of fishhooks for you though

On 1 April compulsory Kiwi saver contribution rates drop from 4% to 2%. If you drop your rate to 2% you won’t be eligible (at this point) for the deal as Housing Corp say you got to be in at 4%.

Also watch out for the income limits. Sounds like you and Upside down may have a cunning plan – but if your incomes for 2 people exceed $100k you won’t be eligible.

**The GrandMaster** · 09-03-2009, 11:52 AM

Originally Posted by minimoke

Ah, there you go Shrewdy, if you’d’ bought that first home you wouldn’t have had to move because of the flatmates – you would have move them on.

But then he'd be stuck living in the jungle with the rats. Renting he can simply move on to a better place.

**minimoke** · 09-03-2009, 01:15 PM

[quote=The GrandMaster;246386Renting he can simply move on to a better place.[/quote]
Buying, or creating a home implies some sense of security and pleasure from the people who share it. It’s about being a place where you want to go at the end of the day and a place in which you’ll create fond memories. Sure Shrewdy can run from flat to flat (and deal with the lease issues along the way) but he’s no closer to finding a home.

**Stranger_Danger** · 10-03-2009, 01:41 PM

I still don't get NZ's obsession with home ownership.

I pay less than $300 a week to rent a house with a QV of 550k.

I could write out a cheque to buy it freehold, but what would possibly make me want to do that?

I guess I understand some of the arguments about security, pride, ownership and warm fuzzies but, frankly, economic crimes don't tend to make me feel proud or give me the warm fuzzies.