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Thread: Is property affordable on one income?

  1. #1
    alan is offline Junior Member
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    Default Is property affordable on one income?

    :icon_lol: I am making moves to get a teaching job in Nz for January 2006. ( Auckland or surrounding area) What I really want to know is, will I be able to afford to buy a property on my wage alone? My wife is a teacher and is presently taking time out of work to look after our one year old daughter.
    We are looking to set up a new life. We have no property to sell here in the U.K.
    Thanks!

  2. #2
    SteveyC's Avatar
    SteveyC is offline Right Royal Pain In The Posterior
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    Default Is property affordable on one income?

    Check out realenz.co.nz and open2view.co.nz
    My answer is Yes but see for yourself, they are more expensive in Auckland but still WAY cheaper than the UK. Couldn't see the lower prices being relative to lower wages as a direct comparrison at all.

    Hope this helps

  3. #3
    Taffy's Avatar
    Taffy is offline He who shall be ignored
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    Default Is property affordable on one income?

    Also note that some banks will lend up to 4 times your annual salary for a mortgage.
    Taffy

    The greatest mistake you can make in life is to be continually fearing you will make one.

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