True story…
\n\tPaul wandered onto a car yard and was just casually looking around when a salesperson came up to him and said \u201cTell me\u201d, if price wasn\u2019t an issue, what you buy here?\u201d
\n \t\t\t\t\t\tPaul glanced around spying
\nwhat looked to be a relatively new, red BMW Z4 and pointed to it saying, \u201cThe Beemer would be nice, I\u2019ve wanted one of those for a long time.\u201d The price on the window: $49,990.
\n\t\u201cWhat do you drive now?\u201d Paul told him, describing make, year and mileage. He stood silent in thought for about two minutes, clearly doing some calculations. He then looked up and said, \u201cFor your car plus $950 a month for 12 months you can drive the BMW home today.\u201d
\n\tPaul was quite taken aback by this. He quickly calculated that the $950 was well within his ability to pay. \u201cSo what would you give me for my car?\u201d \u201cDoes that matter?\u201d came the reply. \u201cWell, what interest do you charge on finance?\u201d \u201cOnce again, does that matter? Would you be happy to see that showroom condition BMW in your driveway TODAY, for $950 a month?\u201d Paul couldn\u2019t argue with this logic. But, when he first walked onto the car yard, all he could see was a $50,000 car and imagined 30%+ interest payments on car yard finance.
\n\tWhat\u2019s this got to do with buying a house? It\u2019s the same process. It\u2019s all too easy to be put off by the $500,000 price tag on a new house or the 7.5% mortgage rate. The real issue is neither of these. It\u2019s the cost difference to change homes. If you could change to the home you really want for an extra $X per month \u2013 and you could comfortably pay the $X, what does the rest matter?
\n\tOur advice is that if part of your new home needs financing, talk to your bank or a competent mortgage broker and then talk to us. Work out the financial implications of changing homes. See what might be around that fits your requirements. Ask us to value your home. Remember that it\u2019s only the difference that matters. <\/p>\n","protected":false},"excerpt":{"rendered":"
True story… Paul wandered onto a car yard and was just casually looking around when a salesperson came up to him and said \u201cTell me\u201d, if price wasn\u2019t an issue, what you buy here?\u201d Paul glanced around spying what looked to be a relatively new, red BMW Z4 and pointed to it saying, \u201cThe Beemer […]<\/p>\n","protected":false},"author":1116,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"That new house may be within your reach after all - colinrealestate","description":"True story... Paul wandered onto a car yard and was just casually looking around when a salesperson came up to him and said \u201cTell me\u201d, if price wasn\u2019t an issue,"},"footnotes":""},"categories":[5532],"tags":[5533],"class_list":["post-46","post","type-post","status-publish","format-standard","hentry","category-real-estate-2","tag-real-estate"],"_links":{"self":[{"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=\/wp\/v2\/posts\/46","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=\/wp\/v2\/users\/1116"}],"replies":[{"embeddable":true,"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46"}],"version-history":[{"count":0,"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=\/wp\/v2\/posts\/46\/revisions"}],"wp:attachment":[{"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/colinrealestate.blogtown.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}