Have RIDE will Travel

Dearest KU,

May question po sana ako. As a new migrant to NZ, when is the best time for me to buy a house?

Ang inyong masugid na tagasubaybay,

Newbie in Auckland

Dear Newbie in Auckland,

Sa aking opinyon at base sa na-experience ko nung bagong dating din kami sa NZ, ang masasabi kong best time para bumili ng sariling bahay dito sa NZ ay ASAP, ‘as soon as possible’. Ang timing ng pagbili ay di nasusukat sa haba o ikli ng panahon. If it’s possible, then do it now.

When do you know it’s possible? You know it’s possible once you’ve acquired a RIDE. As soon as you have a RIDE, consider buying your own house right away. The sooner you invest on a house, the easier it will be for you when you’re older. If you start early, by the time you are in your late 40s or early 50s, mortgage free ka na. Wala ka nang binabayarang utang. By that time, paholiday-holiday ka na lang.

RIDE are the requirements to be met in order to be able to buy a house. Heto ang ibig sabihin ng RIDE.

1. Residency – Eto ang unang requirement ng mga banks. Hindi ka kasi pauutangin ng pera ng bangko kung hindi ka Permanent Resident. Baka nga naman takbuhan mo sila, di ba?
2. Income. Dapat may stable job o source of income ka na. Sa estimate ko kapag may combined income kayo na $60k annual, pwede na ito panimula.
3. Downpayment. Normally, 5 to 10% ang nire-require ng mga bangko. So sa $300k na halaga ng bahay dapat may pan-down ka na at least $15k.
4. Extra. Dapat may naitatabi kang at least $100 kada linggo (mas mataas mas ok siempre) . Instead of putting your extra income in a savings account or just wasting it for non-essential items, you should seriously consider using the extra money towards a mortgage. Say, if you are already paying $300 weekly for your rent, tapos may $100 kang sumosobra weekly, think of buying a house where in you’ll pay $400/wk para sa amortization. Isipin mo para ka lang nag-rerent ng bahay sa bangko with the difference na magiging iyo ang bahay later on.

Ngayon kung wala ka pang RIDE at gusto mo na talagang makabili ng sarili mong haybols, isa lang ang alam long paraan. Dapat may PNB ka – Pambayad Ng Bahay. Dapat bayaran mo ng cash ang bahay para di mo na kailangan ng RIDE.

Medyo mahirap magkaroon ng PNB, except na lang kung marami kang hacienda sa atin o kaya tumama ka ng lotto o kaya tanging tagapagmana ni Don Atoy Velasco. But for most Pinoys in NZ, my advice is for you to aim to acquire RIDE the soonest possible.

Sana nasagot ko ang tanong mo.

TNT and CFN

K U