Here is an opportunity to secure a brand new 2-bedroom townhouse in Henderson, Auckland.
Brand new and move in ready, with hi-spec kitchen with quality Bosch appliances, streamlined handle-free cabinetry and a glossy black benchtop. The main living area opens out beautifully to a private outdoor deck and garden area, but has a heatpump, double glazing and insulation to keep you comfortable year round.
It has a 10 year Master Build Guarantee and Freehold Title!
You can view this property on the real estate listing too.
It’s a special opportunity for first home buyers with anything from 5% deposit.
Buy Using Shared Ownership
We have created a special opportunity to buy this property with shared ownership provider YouOwn.
Normally there is an ongoing equity fee for using YouOwn, but working with the vendor we have agreement that they will pay this for 2-years. This
This is how the numbers look.
| The Purchase Price | $619,000 |
| Funded by: | |
| Your Deposit (Kiwisaver and Savings – minimum 5% required) | $30,950 |
| YouOwn (shared equity to maximum 15%) | $95,550 |
| Mortgage (to maximum 80%) | $492,500 |
You might have more deposit so the number might vary, but this will give you an idea of what the numbers could look like. Of course your mortgage adviser can confirm the exact numbers for you when they assess things.
What will it cost you?
The mortgage can be arranged with Resimac Home Loans and the 2-year fixed rate is at 7.59% today, so that means the mortgage repayments are $800 per week, but remembering this is paying the mortgage off too.
The YouOwn shared equity would normally cost you 5.99% (and this is interest only) plus an admin fee of $100 per month. That means this would normally cost you about $135 per week BUT with our special deal this will cost you nothing for the first 2-years!
Therefore you can buy this home today for about $800 per week.
If you were renting this same property this is estimated to cost between $630 – $680 per week.
Buying Instead Of Renting
Of course if you do not need the shared home ownership and can but this property using just a standard mortgage then that may be the best option; however that is not always possible and so using this deal for shared ownership might be exactly what you need.
It’s got to be better than renting – a bit more expensive now, but you are paying off the mortgage and you will own the house too so no landlord to boot you out when they decide to sell.
Let’s do the numbers and see how it all looks for you.
