Sc.net financial lounge

Discussion in 'General Chat' started by Archaeopteryx, Apr 14, 2015.

  1. here it's minimum 5% of the whole cost as a cash down that is required. If your cash down is between 5% and 19%, you have to pay an insurance to the bank, i.e. pay an insurance for the bank that loans you the money in case you don't pay.

    In Canada, banks get their money from the central bank so they are just a middle man for loans. They have no risk whatsoever.

    anyway, the insurance is cheap, its like 3-4k for a normal house. thats what I paid
     
  2. Its 20% here too, but you can't buy a house for $400-500k. You can get an apartment, but it will be pretty shitty.


    You can get a loan for less than 20%, but then you have to pay mortgage insurance, which is a fair amount, and its dead money.
     
  3. sounds like i should buy a house here in canada then
    maybe a log cabin in the woods
     
  4. why not? its cheap if you're outside city centers. Interest rates are at around 3%
     
  5. Iunno, I just searched for average salary norway. So I think that's for all ages. So a guy who has been working as a vicar for 30 years will make more than I do after working for one year. But I will get more eventually.
     
  6. The Bank of Canada is a lender of last resort. Loans from the central bank are what increase the base money supply, so only when demand for capital is very high is that common.
     
  7. It's safe to say that Burner has no idea whatsoever about what entry level engineering job salaries are like in Europe.

    I have a masters degree and make way less than Archaeopteryx. Then again, Sweden is the Poland of Norway.
     
  8. outside of city centres is cheap back home too, so when I eventually get back I'm considering buying (well, designing / building) a holiday home as my first purchase
    kinda want to buy a house in Auckland, but to buy anywhere worth buying there is $800k+
     
  9. that's a shitload, but are you like vicious who wants to be close as shit as downtown? if you don't mind driving/commute ~30min, is it still that costly? if so, that's so out of reach <A BORDER="0" HREF="http://www.supercars.net/PitLane?displayFAQ=y"><IMG BORDER="0" SRC="pitlane/emoticons/disappointed.gif"></A>
     
  10. Well, that's for a inner / slightly outside of inner city suburb. I don't ever want to commute more than 20mins unless it's lifestyle based (big section on the very outskirts).

    Wellington's much more affordable ($500 ~ 600k for a decent entry into inner city suburbs). Not sure where I want to end up yet though so might just go down the holiday house route and get back into renting.

    But ya, it's getting pretty out of reach for a lot of people unless they dedicate years of their life just saving for a deposit.
     
  11. i can get around 100k max on my own with that salary. got 80k though.

    but yeah you do get assisted as a first home buyer.
     
  12. nah man. i pay around 400 a month, while when i would rent i would pay around 800.

    so home owner and i pay less. win win.
     
  13. What sort of apts would we talk about (Auckland and Wellington respectively)? Size? Quality? Pics?
     
  14. It's almost always cheaper to pay a mortgage on a place than rent one of a similar size.
     
  15. Bought my second house with 3% down, 3.5% interest, no mortgage insurance premiums.

    yay murika
     
  16. So I pay 860 USD rent for a shitty 1 bedroom sublet apartment per month excluding electricity. Yay me.



    I hope to get a hefty tax return this year though from all those weekly commute airline tickets. All above 10000 SEK per year (1100 USD) should be deductible.
     
  17. Why isn't your employer paying for the flights?
     
  18. I already get paid normal engineering salary for doing nothing at work, I don't think they'd be willing to pay for that as well.
     
  19. I got 7800$ Cad back this year. Did pretty good. Now I am sitting in Costa Rica blowing it all. Haha
     
  20. #70 christofurr, Apr 15, 2015
    Last edited by a moderator: Apr 25, 2016
    I'm talking about freestanding houses.

    I guess this is a good example of a typical inner city suburb in Auckland...
    http://www.trademe.co.nz/property/residential-property-for-sale/auction-874340132.htm
    The recent QV.co.nz sales information is a good indication of what it'll roughly go for...
    "$760,000 – 187 Mount Smart Road, Onehunga, Auckland
    $825,000 – 9 Namata Road, Onehunga, Auckland
    $825,000 – 4 Arapuni Avenue, Onehunga, Auckland"

    And I guess something comparable in Wellington might be something like this...
    http://www.trademe.co.nz/property/residential-property-for-sale/auction-857418796.htm
    Though arguably probably not as good a location.
     
  21. To me that sounds unacceptable.
     
  22. Cum save me bb
     
  23. My salary is ok, but would like discretionary performance bonus to be more "accessible". Pisses me off so much to see lazier, crappier colleagues get paid the same or more. I've consistently been a top performer in the teams I've worked in and am very well liked among peers, bosses (even went on a drinking spree with VPs and EDs a couple of weeks ago lol) and clients. Got a promo in Jan but would like to be one level above the current one. Issue is there is limited employee turnover, promotions are very structured and strict labor laws make the process frustratingly slow. Still, as much as there are "bad" colleagues, the culture overall is very very good. Quite a few of us have built very good relationships, we go out quite regularly in the weekends, or organise a poker night, make jokes at work, having a laugh etc. It's good fun at times, as stressful as the job might be.
     
  24. No its not. In some places in the UK, but most places have a big gap between mortgage payments and rent. London for example.
     
  25. Due to the fact that I used the word "almost", this post is pretty much pointless.

    Please stop trying to be a know-it-all.
     

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