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Given the additional information below, calculate Mr . Bloomfield s affordable house price and help him decide whether he should buy a house or keep
Given the additional information below, calculate Mr Bloomfields affordable house price and help him decide whether he should buy a house or keep renting. Regardless of whether buying a house is recommended or not, further analyse whether he should use a or and pa respectively year mortgage to buy a house. Mr Bloomfield has an annual salary of $ Mr Bloomfield currently has no debts. He would like to buy his dream bach for $M A similar bach is up for rent down the hill at $ per month. If he buys this house he will have to pay the annual rates of $ house insurance of $ and maintenance of $ every year. He has saved up $ for his house purchase. House prices in the area are expected to increase by per annum and rental prices will increase with general inflation. Hint: General inflation can be expected to be in the middle of the RBNZ target
Given the additional information below, calculate Mr Bloomfields affordable house price
and help him decide whether he should buy a house or keep renting.
Regardless of whether buying a house is recommended or not, further analyse whether
he should use a or and pa respectively year mortgage to buy a
house.
Mr Bloomfield has an annual salary of $
Mr Bloomfield currently has no debts.
He would like to buy his dream bach for $M
A similar bach is up for rent down the hill at $ per month.
If he buys this house he will have to pay the annual rates of $ house insurance
of $ and maintenance of $ every year.
He has saved up $ for his house purchase.
House prices in the area are expected to increase by per annum and rental
prices will increase with general inflation. Hint: General inflation can be expected
to be in the middle of the RBNZ target
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