Current Real Estate and the Rising Costs of Owning a Home

Real estate.... now that brings to mind lots of things... a home to live in, a place to call yours,house ownership.But for many people in New Zealand, buying a home is beginning to be totally out of reach in mine and in their lifetimes.What with the rental situation, almost half of someone's wages ( if you are earning a wage, say $500nzd) is spent on keeping you inside and living in the place, never mind actually owning the property.

So for many people, myself included, we are going to be renting for the rest of our natural born lives because of the cost of the current rents.The older folk, the earlier generation, the ones who were lucky to own a house in their lifetime - were lucky to get the work so they could pay the mortgage and eventually own their piece of property, a house to call their own, a roof over their heads for life, if need be.That is unless it is freehold - you don't have to pay leasehold rates to the council.

Things like houses do not come easy to my generation.I would have to inherit a house from a family member or relative.Even so, it might go to some other family member in their will or something like that, a favored relative.Having a partnership might improve my chances, although what do you do if you broke up? the house would have to be sold with a mortgage not fully paid. Or house assets split up and the house sold to cover costs of legal issues. And maybe finding another house, renting again, starting all over.And even if you are lucky to own your own home,there might be family squabbles over your estate, in terms of
who gets what in the will concerning who gets the property after you have died,who gets the furniture,that sort of thing.

I think I'll stick to renting.At least the property belongs to the landlord, not you.It would be much easier than owning it yourselves.You wouldn't have to fix the blocked toilet that has been stuffed with crap and needs a plumber to come and fix it.You wouldn't have to pay rates on the property,or have to insure the property against damage or natural disasters.Remember all those floods that have been happening lately in England? God, the mess they had to clean up.....

They were lining up for water in huge lines because the water had run out or wasn't drinkable because of the flooding.They were sitting on rooftops waiting for help to come - heck, even some of them were drinking vodka to relieve the stress.Some who were stranded in pubs drank beer! Now I hear that the house prices will level out and flatten, meaning that they will drop in price and many home owners will delay the sale of their homes,because it is not at the price that they want to get it sold. Or people will find cheaper homes to buy. Who knows?
I dropped off flyers for a real estate company the other day, and he wanted them delivered immediately.To get in for the following weeks' deadline to get the house he was helping to get vendors for interested in the property.My,I did I walk for miles and miles doing that.So, if more opportunities were made available to people to make it easy to get home ownership, then that would be a great thing.It would give my generation a chance, a slight chance to own a place to call home.

http://jc1971.wordpress.com
http://joswebpage2.blogspot.com
http://www.blogcharm.com/jo1971/