Quote:
Originally Posted by marki
Carl I posted that in repect to your comment of huge rises in power costs. If power went up by 500% it would certainly be worth considering. Houses around here have increased in value by 25K in the last 3 months so I am assuming 35K extra on a loan is not going to break the bank. I will let you know what the extra gas cost is when the bill arrives. Considering we produce so much of it in this state you would assume it would be cheap but that only goes for overseas buyers I am affraid.
Mark
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$35K, thats alot of money for something that will pay itself off in how many years? 15-20?
$35K ontop of the cost of a house on the west coast may not seem so much. But on the east coast? $35,000 is what it is. $35,000!! Thats family saloon money, or a 4WD or a huge swimming pool (yes luxury items), even a private observatory. It could be the difference between being able to afford a house with 4 bed rooms instead of 3.
Also, alot of people on the east coast are scraping by just to pay their current mortgage. They get by month after month with out any savings at all! 35K can and probably will break the bank. With interest rates rising now, that money will be spent else where. Of course in most cases, they have only themselves to blame for putting themselves into so much debt. That being said, the majority of Australias population lives on the east coast.
Ideally yes its great. My father is planning to purchase a smaller one purely for running the refridgerator when he retires in 6 months. Its fine for him he can dip into his super.
As mentioned previously by renormalised, I think the best way around it is to have the house built with it manditory, so when the buyer purchases the house, it is included in the price without a further or added burden. Either they can afford the whole package or they cant.