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Gian Businesses Index & Contractors in Levin and wellington NZ
 
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BORROWING SOUNDS AND IS EASY ITS THE PAYING BACK

THATS THE HARD PART

The Property market in the Horowhenua is down and in no way compared to Raumati or Kapiti where properties are in demand due to commuters to Wellington. Not so in Levin which basically is just drawing in retirees but certainly no business people.

Banks are enforcing high fees for home-owners to roll over their fixed term loans--April 2010 & in July Interest rates are about to rise?

 

BORROWING FORMULA: HERES AN EASY GUIDE ON WHAT YOU MUST PAY THE BANK

 

If you wish to borrow money from any Bank use the following as a guide:

Borrow $100,000 over 25 years; double it which is $200,000 then half it again which is $50,000 & you pay back = $250,000 immaterial of the interest rates & inflation. For those one one income you will never be able to pay that back over 20 years min IF OVER 45YRS OF AGE. DO NOT LISTEN TO BANKS

 

 

   

 

 

The main drawback for borrowers is paying your loan back. It sounds easy but it isn't and marriages and relationships fall to the wayside as the years go by as circumstances will inevitably change. More than most people will sign a Bank loan without really reading the fine print as they are elated that the Bank has lent them the money--- 90% do this

Heres a few things to think about when borrowing:

Is your job safe & will it change in 10 years time
Check utilities, house repairs, car repairs,budget 1 year ahead
Is Children: school fees, another child, sickness, insurances
Holidays and maintenenace costs on your home, car etc
Gameplan if main beadwinner loses his/her job
Check outgoings & if your parents need help
Cash is better -- save your own then own your own outright.
Cash is BEST. Little equity in a property spells disaster!
Just remember 25-30 years is a long time? Over age 50yrs you will never pay this load back in your life time?
Just remember 2 incomes now;1 income in 10 years time?
Unknown expenses: law costs; accountants etc if biz; tax, ACC etc? power increases, household costs
Ask the Bank what sort of protection you have if the inevitable happens you cannot pay back?
If you don't need don't have a loan

THE HIDDEN COSTS

Did you read the fine print in your loan? 90% do NOT.
You will not know if your Bank has adequate Fractional Reserves?
Not doing your budget & forecasts in future years
Catastrophe--your house isn't covered?
Banks interest rate hikes & costs?

 

 

[ Property Report May 2010 ] WHY ARE MANUFACTURERS & BUSINESSES LEAVING NZ: [ Read the story ] The issues are economics nothing else and many a time the owner is blamed for moving when in fact he has no say in the matter otherwise he will go bust. However read the reasons why NZ has lost the plot ---[ Compare to Thailand ] & why more factories are heading abroad now. It makes sense.[ Check WHY THAILAND ] is better for Manufacturers & any Kiwi Company. Why NZ is lost [ NZ Deficit increases ] Yes we owe money????? [ Government $250m a week borrowing ] [ Kiwisaver ] [ Kiwisaver good or bad Providers ] [ Transmission Gully Impact costs ] [ NZders lose out ] [ Electric Power Increase ] [ Benefit cuts good or meaningless ] [ Family budget ] [ Quit smoking-heres how ] [ Truck panel & Paint ] [ World population exploding ] [ Retirees new visa over 65 ]

"Horowhenua District Council needs a reshuffle to survive as Levin is dead "
 
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LIST OF PROPERTY CONTRACTORS IN WELLINGTON / HOROWHENUA [ House & Property Contractors ] [ Handyman Repairs ] [ Farm Implements & Machinery ] [ NZ- hobbies Honda VFR / Estima, Isuzu ] [ NZ- Komatsu PC-10-40 parts ] [ NZ- CaterpillarD4-7U ] [ NZ- CaterpillarD4-7U CLASSIFIED ADS ] NZ 2011 RECESSION or [ NZ- lost ] [ Kiwisaver good or bad ] [ NZ- deficit ] GIAN IMPORTERS [ Nephrite for sale ] [ Timber trees for sale ] [ Wallboard importers ] [ Truck & Bus Tyre imports ] [ Charcoal Imports ] [ Paint Imports ] [ Mobile Home Imports ] [ Verandah roof imports ] [ Made to Measure Aluminium House lots ] [ Chillie bin & Ice coolers ] [ Garment Imports ] [ Used 40ft containers sell ] [ Rubber track imports ] [ Double & Injection moulding ] [ Contact Us ]DO YOU NEED AN INTERNATIONAL BUYER [ Sourcing Job-Position wanted ] [ Log exports ] [ Arabica Coffee ] AIR TRAVEL CHEAPER THAN FLIGHT CENTRE [ Cheapest Air Travel ] [ Airline & Travel School ]

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