| 101 | andrew697 wrote:
Not every potential home purchaser will have parents/relatives who can and will contribute money towards their deposit/house purchase. and they could have done it without any help. they purchased over a million, they could have chosen a lot cheaper, but some parents wanted to help. heather902 - 2021-08-07 09:20:00 |
| 102 | lovelurking wrote:
Nor is the game of life. ???? I was taught Latin and French when I was at high school, we weren’t allowed to use calculators and I’d never seen a computer. You young people are all so lucky, you just don’t see it...???? the only luck here is being born prior to about 1990-1995 - anyone born after that really lucked out in the birth stakes housing wise. At least be honest about that, I am. I do feel incredibly lucky. lakeview3 - 2021-08-07 09:21:00 |
| 103 | lakeview3 wrote:
the fact that you think it’s doable or Ok or that it will work out all ok in the end to have to share half a house with another couple - and having done so WITH parental help - shows how absolutely out of touch with reality and most people’s lives many actually are. What say someone doesn’t have parental help? never has? What say your sons situation isn’t going to go pear shaped once him or the other couple starts having kids? you are completely missing the point. It might be OK for your son, but what about people 10 years younger, they have missed the boat due to their birth date. and again here is this overriding incredibly negative attitude. I think it shows the complete opposite that my son chose to house share. He is WELL aware of the realities of home ownership. None of them undertook this lightly, they paid for legal advice and paid for a contract to be drawn up. so if it does go pear shaped there is an exit plan. As for parental help they didn't need it. It was a nice to have, and I know for a fact all of the parents are average kiwis, and not all own their own homes and some borrowed the money. so put that in your pipe and smoke it. heather902 - 2021-08-07 09:24:00 |
| 104 | Could you two go get your own thread for this recurring argument? sparkychap - 2021-08-07 09:28:00 |
| 105 | chiz wrote:
I should show this comment to my 21 yr old daughter and her partner as they are missing out big time. They are both at University, both doing double degrees and working around 20 hours a week. They live with his parents as its too much to rent a place. They share a car too. Their computers are expensive but that is due to needing them for work and University. They laugh when we talk about the future as they think they will be in their 40’s before they will be able to buy a house and start a family due to student loans ( Tuition only not living costs) and then saving for a deposit. Yes there are those like your daughter who are doing it the way we did it and I have admitted it is harder now, but that doesn't negate the fact there is the other side of the coin " a part of that is self inflicted, a lot don't save" maddie44 - 2021-08-07 09:33:00 |
| 106 | lakeview3 wrote:
you made the claim he doesn’t have a huge debt. How do you know? How do you know his whole life isn’t ticked up on credit? Don’t be fooled into thinking people are well off based on appearances only. My father had a German friend, a multi millionaire (20 years ago) and he wore old clothes and drove around in an 11 year old VW Golf…..you would have never known how wealthy he was. A very clever man. So you keep telling us. ???? I can assure you, they are not fools. They are business owner operators. They work together as a couple on and in their business. They have operated this business for many years. They have worked hard and learnt a lot. The next bit will really rip your nighty, they are enjoying all of the above having started from scratch... |
| 107 | heather902 wrote:
As for parental help they didn't need it. It was a nice to have, and I know for a fact all of the parents are average kiwis, and not all own their own homes and some borrowed the money. so put that in your pipe and smoke it. parental help is talked about as if it is something new, but i remember that my parents, who were by no means wealthy got a small mortgage on their home to help my eldest brother into his first home and that was back in 1970, they did it again for my sister 10 years later as well. And before a nasty is fired, no they didn't lend us money, we both worked two jobs to get our deposit. At that time to achieve the level of repayments the bank wanted we had to have 45%+ of the value of the house. maddie44 - 2021-08-07 09:45:00 |
| 108 | chiz wrote:
That’s me and not us. I’m not sure about the negative attitude because you have to have dreams, goals etc. I wonder if it’s due to needing a large amount of money for a house deposit that worries them as they are very careful with money now and that amount feels so hard to attain. It could be media? No idea
In 12 months time we are moving back west to buy a house, one more year of schooling to go Well reading the article in the spin off, if you didn't examine the facts a little more carefully it would be depressing. heather902 - 2021-08-07 09:49:00 |
| 109 | sparkychap wrote:
Could you two go get your own thread for this recurring argument? Opps, I got off topic too sorry ????
Back to the subject...
I’m wondering if this new conundrum will encourage holiday home owners to sell up and we will see first home buyers moving in to replace them? |
| 110 | This message was deleted. andrew697 - 2021-08-07 09:54:00 |
| 111 | lovelurking wrote:
So you keep telling us. ???? I can assure you, they are not fools. They are business owner operators. They work together as a couple on and in their business. They have operated this business for many years. They have worked hard and learnt a lot. The next bit will really rip your nighty, they are enjoying all of the above having started from scratch... and so they should be if they are 40 now. Doesn’t rip my nighty, it just proves my point. lakeview3 - 2021-08-07 09:55:00 |
| 112 | lovelurking wrote:
Opps, I got off topic too sorry ????
Back to the subject...
I’m wondering if this new conundrum will encourage holiday home owners to sell up and we will see first home buyers moving in to replace them?
I don't thinks so, more that they will just rent them out as aB&B or leave them empty rather than offer out for long term tenanats. Another no win situation created by this government. Edited by maddie44 at 10:00 am, Sat 7 Aug maddie44 - 2021-08-07 09:59:00 |
| 113 | andrew697 wrote:
If they "could have done it without any help" - then why didn't they? Answer: because only an idiot would turn down financial help from their parents - which would help them buy a property. Its right there in the post "they could have chosen a lot cheaper, but some parents wanted to help." The fact that your children got "parental financial help" to buy a property - is a huge advantage (whether you admit that or not). Answer, because the help allowed them to purchase a better property maddie44 - 2021-08-07 10:02:00 |
| 114 | andrew697 wrote:
If they "could have done it without any help" - then why didn't they? Answer: because only an idiot would turn down financial help from their parents - which would help them buy a property. The fact that your children got "parental financial help" to buy a property - is a huge advantage (whether you admit that or not). so what? they got a nicer property, its not a crime Andrew. heather902 - 2021-08-07 11:00:00 |
| 115 | lakeview3 wrote:
how do you know what his debt is? Stop being noisey LV! smallwoods - 2021-08-07 11:04:00 |
| 116 | lakeview3 wrote:
you made the claim he doesn’t have a huge debt. How do you know? How do you know his whole life isn’t ticked up on credit? Don’t be fooled into thinking people are well off based on appearances only. My father had a German friend, a multi millionaire (20 years ago) and he wore old clothes and drove around in an 11 year old VW Golf…..you would have never known how wealthy he was. A very clever man. Just not frivolous.
Ways to get a deposit.
Work hard
Work smart
Save hard
Save smart
Spend little
spend smart smallwoods - 2021-08-07 11:50:00 |
| 117 | sparkychap wrote:
Could you two go get your own thread for this recurring argument? Aww, com'on sparky, it livens up the thread!!!!!!! smallwoods - 2021-08-07 11:53:00 |
| 118 | andrew697 wrote:
If they "could have done it without any help" - then why didn't they? Answer: because only an idiot would turn down financial help from their parents - which would help them buy a property. The fact that your children got "parental financial help" to buy a property - is a huge advantage (whether you admit that or not). It just gets them in earlier.
Maybe at a cheaper price or better house. smallwoods - 2021-08-07 11:56:00 |
| 119 | smallwoods wrote:
It just gets them in earlier.
Maybe at a cheaper price or better house. There is another side to parents giving money too. With so many homes going up for auction with a short lead up time there isn't time to get a registered valuation as valuers are so busy and a higher deposit is sometimes required by banks if there is no valuation maddie44 - 2021-08-07 12:11:00 |
| 120 | maddie44 wrote:
There is another side to parents giving money too. With so many homes going up for auction with a short lead up time there isn't time to get a registered valuation as valuers are so busy and a higher deposit is sometimes required by banks if there is no valuation Correct, or they sign as guarantors.
If we do, we also sign as co-owners.
Then if the bank calls on us, we take over the loan and property. smallwoods - 2021-08-07 12:14:00 |
| 121 | smallwoods wrote:
Correct, or they sign as guarantors.
If we do, we also sign as co-owners.
Then if the bank calls on us, we take over the loan and property. wow how empowering for your kids to know that dad calls all the shots. lakeview3 - 2021-08-07 12:28:00 |
| 122 | lakeview3 wrote:
wow how empowering for your kids to know that dad calls all the shots. Oh FFS, stop being so horrible to people please...???? |
| 123 | lovelurking wrote:
Oh FFS, stop being so horrible to people please...???? I could say the same to you and to him at times lakeview3 - 2021-08-07 12:44:00 |
| 124 | Anyhoo….just proves how really f’ed up the housing market is eh. Edited by lakeview3 at 12:45 pm, Sat 7 Aug lakeview3 - 2021-08-07 12:45:00 |
| 125 | The member deleted this message. mulch_king - 2021-08-07 12:46:00 |
| 126 | lakeview3 wrote:
wow how empowering for your kids to know that dad calls all the shots. If you were to guarantee a large loan would you not want some security for yourself? Better for family to take over the loan and house than the bank. Edited by maddie44 at 12:50 pm, Sat 7 Aug maddie44 - 2021-08-07 12:48:00 |
| 127 | This message was deleted. andrew697 - 2021-08-07 12:51:00 |
| 128 | andrew697 wrote:
I didn't say it was. Perhaps, own it that helping your children with the deposit is a huge help and probably enabled them to get a better property (quicker). What does she have to own? They still would have got a house Edited by maddie44 at 12:56 pm, Sat 7 Aug maddie44 - 2021-08-07 12:54:00 |
| 129 | This message was deleted. andrew697 - 2021-08-07 14:01:00 |
| 130 | This message was deleted. andrew697 - 2021-08-07 14:03:00 |
| 131 | andrew697 wrote:
My comment "own it" - means exactly that: own up that giving your children money for their deposit on a property "is a huge advantage". You obviously either didn't get my meaning OR you didn't want to. but it wasn't a huge advantage. it was a very small contribution and in all honesty probably made no difference - they still had to have a higher interest rate due to their low deposit.
How about you own being a bit miserable in your nit picking. heather902 - 2021-08-07 14:22:00 |
| 132 | andrew697 wrote:
My comment "own it" - means exactly that: own up that giving your children money for their deposit on a property "is a huge advantage". You obviously either didn't get my meaning OR you didn't want to. Not sure if I am allowed to answer or not. i don't see it as a "huge advantage" from what has been posted it allowed them to buy a better more expensive home but they could have purchased a home without the parental input. And ...so what, its not a crime Edited by maddie44 at 2:54 pm, Sat 7 Aug maddie44 - 2021-08-07 14:53:00 |
| 133 | lakeview3 wrote:
wow how empowering for your kids to know that dad calls all the shots. Not quite like that, Mrs doomsday.
Stops the bank having a quick fire sale.
If they default, we pick up the slack and add another house to our stock.
They are not going to be pampered through out their lives.
We are protecting our investment, common sense really. We did this for a tenant as well.
Left the deposit in for 5 years at no interest.
They remortgaged and paid us back.
If they couldn't, we would have taken back ownership and they would remain tenants.
BNZ had never heard of a LL doing this back then, about 15yrs back. Oh, by the way.
They are tenants again now.
So much for helping aye! Edited by smallwoods at 5:20 pm, Sat 7 Aug smallwoods - 2021-08-07 17:14:00 |
| 134 | I get slightly alarmed by the politics of envy in some of these posts.
I saw what Mugabe did, redistributing assets from the haves to the have-nots; pretty soon no-one had anything. |
| 135 | loose.unit8 wrote:
That will be great for the country's carbon emissions But aren't we all being told that 'electricity' use is the savior for the environment. brouser3 - 2021-08-08 09:48:00 |
| 136 | masturbidder wrote:
I get slightly alarmed by the politics of envy in some of these posts.
I saw what Mugabe did, redistributing assets from the haves to the have-nots; pretty soon no-one had anything. Totally agree. Far to many 'youngsters' are just showing how envious they are and want everything 'now'. To bad about those who have struggled through the era's of high interest rates, massive labor market redundancies (no opportunities even with seasonal work to go into back then), the share market crash, 'blue chip' financial investment companies going belly up ...... brouser3 - 2021-08-08 09:59:00 |
| 137 | Even if everything was redistributed - the useless would soon return to having nothing and the 20% would quickly own everything again. pcle - 2021-08-08 12:14:00 |
| 138 | pcle wrote:
Even if everything was redistributed - the useless would soon return to having nothing and the 20% would quickly own everything again. That is the reality. maddie44 - 2021-08-08 12:18:00 |
| 139 | lakeview3 wrote:
the only luck here is being born prior to about 1990-1995 - anyone born after that really lucked out in the birth stakes housing wise. At least be honest about that, I am. I do feel incredibly lucky. Load of crap, really. If our kids followed exactly the same pattern we did, they would have their own homes. Many of there contemporaries already do.
Work hard, don't party, don't spend, save, save, save. Be focused. Don't be fussy. Don't live in Auckland lol. Its doable here in Christchurch. Have two jobs if you need to. Move back home to save. Got nothing to do with the birth stakes. If you have parents that encourage you and don't moan at you saying" well your generation will never own your own home" that helps too. The kids I know here in Christchurch that have done it are all in their 20's some couples some on their own. Just buckled down and did it. Its not possible in all suburbs in all cities or towns. But you have to look at what people are buying too. Friends of daughters bought a small three bed 1 bath, single garage in Hornby and its doable. In fact, they are paying less in mortgage than they were in rent. Another friend's daughter bought a new build in Lincoln, but has housemates to help pay her mortgage. She stayed home, saved like mad for about 8 years, but yippee did it and is so proud.
We haven't had help, and none of the young ones I mentioned have either.
Our kids are not expecting to wait till "their inheritence" nor should they. For all they know, like us, the money belongs to that generation, it can be used up in rest home care or medical care.
Not everyone can do it, but enough people are to make it doable. I have never told my kids they cannot own their own property. |
| 140 | brouser3 wrote:
Totally agree. Far to many 'youngsters' are just showing how envious they are and want everything 'now'. To bad about those who have struggled through the era's of high interest rates, massive labor market redundancies (no opportunities even with seasonal work to go into back then), the share market crash, 'blue chip' financial investment companies going belly up ...... Yup. Our kids know damn well we struggled. If we couldn't afford something, we told them. Both save for things, neither has a credit card. I wish we had had Kiwi Saver when we were young! |
| 141 | heather902 wrote:
and again here is this overriding incredibly negative attitude. I think it shows the complete opposite that my son chose to house share. He is WELL aware of the realities of home ownership. None of them undertook this lightly, they paid for legal advice and paid for a contract to be drawn up. so if it does go pear shaped there is an exit plan. As for parental help they didn't need it. It was a nice to have, and I know for a fact all of the parents are average kiwis, and not all own their own homes and some borrowed the money. so put that in your pipe and smoke it. Sounds like you have raised a son with a good head on his shoulders and you must be proud of him. Bet he's never had negative thoughts pushed into his brain like some kids! Love your post. |
