What is the real cost of owning a home?
Is it the cost of buying, paying the loan or running the house and maintaining it over the years.
The real concern i have is with the rising cost of utilities ie. electricity, water and gas all of which are set to rise a lot when carbon trading schemes take effect.
My goal to build a house that actually makes money for you when you are not home and to be self sufficient with no drain on the environment. Can it be done????
People are saying that housing prices are way too high and that the market has plenty of room for a reduction in prices. However the smart property investors are out there looking around to buy. These are people who actually make a living out of property. NOT the people who make a living out of talking about it!!!!!!!
It is interesting some of the wealthiest people i know are the ones who have had a long term view when investing in property and not a short term trading mentality. They have a strategy and they stick to it.
Sounds boring huh! But guess what? It works now and has worked for years before.
DO YOU HAVE A STRATEGY?
Interest rates are going through the roof in Australia and now i read that the median house price in Sydney is over $500,000, that means the first home buyer has to come up with $50 - $100,000 deposit and then be faced with a mortgage of $400,000 or more at over 9% interest rates. AND then the bank credit card departments keep sending us letters saying they will upgrade our credit limit on the credit card so we can max out and be locked into 20% interest rate on the balance. FANTSTIC!! But we keep “having to Have” the new TV and the new Car and the kids have to have the latest play station. So marketing companies then have a go at us telling us we can have it now and pay nothing until the year 2012 or something similar. Everyone is telling us to spend our money, even if we don’t have any to spend. When is it all going to stop? Or is it?
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