Housing
I was thinking today that if i was to buy a house, what type of house would it be and where?
An average house in the south island of NZ is NZ$260,000 which is US$140.000 which is GBP85.000. The house prices are slowing down but it depends on which region you want to live.
Now is it better to buy a small house or a big house? Well i'm not sure, a small house would generally mean cheaper and easier to clean but a larger house would be great for space and entertaining. The city isnt really warm enough to have a swimming pool in the garden.
My dream house would have a big garden and modern architecture but as long as it was livable. Ahhhhhh should I buy or continue to rent.....but with interest rates at 7.25% it wuldnt be cheap....!
kev.in.real.time
posted by kevin @ 7:33 PM
5 Comments:
Are interest rates going down there? When we were finally able to buy our first (and only) home in 1989 interest rates here were high. 10.75% to be exact. Ouch! Luckily in the 1990's rates came down we were able to refinance and we got a rate at 5.75%.
My own attitude is that if you are able, it is better to "pay rent to yourself" (buy) than to pay someone else's mortgage (rent). In the end you will be building equity with which you can barter for something better.
Hey Kevin, thanks for stopping by my blog.
As far as buy vs. rent, I've always preferred buying.
That all depends on where house values are heading. You don't want to buy a house you can't possibly sell and make a profit off of.
I think owning a house is great but it is a lot of work. Things go wrong (like roof leaks) and you have to take care of them yourself. My house is kind of small so I can't really entertain, but I am sort of anti-social so I don't ever entertain anyway! :) But I would say go for it!
Take it from me. Go for a small house and small yard.
By small I don't mean tiny- I think a house should have enough space to live in and not be cluttered. If you keep a small house, it forces you not to clutter. Plus as everyone knows, when you entertain, everyone ends up in the Kitchen, so having a huge house isn't important.
And unless you like lots of yardwork (just a losing battle vs entropy in my opinion) then keep your yard small and natural. Avoid lots of grass that needs mowing/weeding.
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