10% Deposit Vs 20% – How much more can you BUY?
21 Mar 2014
If you had $70k as a deposit, what can you buy today? Well I will tell you….because you need a minimum of 20% deposit to purchase an existing home you may be able to buy this forty year old 2 bdr unit in New Lynn; asking price is $360k.
Not quite what you were wanting, well what if you were to build? well, if you were to build you get the privilege of only needing a 10% deposit so that same $70k deposit would allow you to buy this brand new 180sqm stand alone, double glazed, 4 bdr with ensuite, twin internal accessed garage with a Designer kitchen home for $680,000.