Own or rent??

**The_Dover** · 24th August 2006, 09:33

Do you own or rent your home?

Is the millstone of a 20+ year mortgage and being tied to one location worth it? And with NZ's horrendous interest rates and low salaries is it a viable option for many of us these days?

THE BOTTOM FIVE OPTIONS SHOULD READ OUTSIDE AUCKLAND - Can a mod please change??

**skelstar** · 24th August 2006, 09:44

I rent outside auckland. Since seeing that house slip down the hill in Kelson/Wgtn it has strengthened my resolve to do avoid buying a house for much longer.

Its an interesting discussion to have though. Im shocked Dover

.

**The Stranger:Me** · 24th August 2006, 09:51

You left off a few options there man.
Like buy, wait 5yrs for property to appreciate.
Borrow against this to purchase a property to rent out so as the rent covers out goings.
Wait 5yrs and do the same again.
Wait 5yrs and do the same again.

Money for nothing.

**Motu** · 24th August 2006, 09:53

My lawyer sold all his properties,except one for his daughter - and now rents...also sold his business.He said to me - ''With the economic climate as it is in NZ,who in their right mind would be in business and own a house?'' I doubt he will retire a pauper,so obviously he has another plan....but interesting to see him dump his ''assets'',he's one of the smartests guys I know.

**The_Dover** · 24th August 2006, 09:54

Originally Posted by CaN

You left off a few options there man.
Like buy, wait 5yrs for property to appreciate.
Borrow against this to purchase a property to rent out so as the rent covers out goings.
Wait 5yrs and do the same again.
Wait 5yrs and do the same again.

Money for nothing.

Ahh, the good old slumlord!

The thing is you have to be able to crack the market in the first place to do this.

**Jantar** · 24th August 2006, 09:58

I knew it. People who live north of the bombay hills DO believe that Auckland is New Zealand. This poll is proof.

**Lou Girardin** · 24th August 2006, 09:58

The 526% return on investment in 4 years tells me that owning is a very good thing.

**placidfemme** · 24th August 2006, 10:00

I rent in Auckland at the moment... but I do believe that despite the markets ups and downs, buying property is still a good investment if you investigate your options fully and get the right financial advise.

But then again I work for a property development company... so I would think that... its my job lol

**Blackadda** · 24th August 2006, 10:01

Originally Posted by Jantar

I knew it. People who live north of the bombay hills DO believe that Auckland is New Zealand. Thsi poll is proof.

Yep and don' they know it. I'm outta jafaville in 3 weeks, gunna be a cunt.......tree boy, moving to the waikato and can't bloody well wait.

Already ordered mi freindly sheep......

**SimJen** · 24th August 2006, 10:03

I own my own, a place in the country and wouldn't give it up for anything.
I'd rather be lining my own pocket than someone elses. Its all about where you buy though, and I for one would rather cut my balls off than live in AK.

**Rashika** · 24th August 2006, 10:09

owned for years, will always do so. At least i know it is mine, I can do with it what I will, and wont ever get kicked out. Costs about the same if not a little cheaper than renting the equivalent house...but this is chch, not dorkland

And one day it will be mine... ALL MINE!!!

**Motig** · 24th August 2006, 10:10

Own 5++ years. Bugger paying all that rent for nothing at the end. That said if I was starting out now, theres no way I could afford to buy.

**Colapop** · 24th August 2006, 10:11

The property market has seldom/very very rarely lost value. Net market prices have been increasing for the last 30 years plus including during the late 80's early 90's. You van lose money on a property but it's not in the sale value vs the purchase price, it's in the maintenance costs of both the property and the finance. If you are going to buy - use cash.