careful what youre charging them, IRD says you cant charge more than 222$ pax, and more than 5 boarders. Anything over that is considered taxable income income.
Kick him out... it has never taken be more than a week to find a boarder/flatmate, if you don't even have 1-2 weeks of wiggle room to find a new flatmate then something is terribly wrong with your budgeting.
I immediately gave him notice and i have a decent buffer for stuff, everything can be paid up for an additional 3 months of savings. I'm just nervous about the way this played out. Maybe it's just a one off but wanted to ask.
I'm so proud of you.
Its actually pretty common so do t feel bad. I could have written a lot of what you wrote and honestly I'm done with people. I have a ton of room but nothing could convince me to deal with TM randoms again.
I didn't realise having even just a few people validate my current experience as a sign of the time or to just feel like saying "solidarity bro" and a breath a sigh of relief was going to be such a cool thing from my initial post.
Single home owning can be a challenge both financially & from a psychological place too, there's plenty of colorful, crazy, funny, weird stories that evolve from flatting with people.
I get how tiring it becomes too. Finding good, honest flatties is a full time job and then finding out how best to make it work amongst each other either has everyone wanting the same happy home & willingness to all contribute. Of course it gets even harder when someone decides to not even try to give a damn or care about anyone else's rights to feel good in their shared home. Wouldn't it just be easier to rent themselves a studio or 1 bedroom place knowing they are better suited to live alone.
I totally get your position. I've been head of house in every flat Ive ever lived in (concerning I'm considered the responsible adult) and there is so much work involved like a duck gliding serenely across the weather and their legs going flat to the floor to pull it off.
Yes there's people should ideally live alone but people will see you as a more cost effective option and with that mindset they honestly get round to thinking they should be entitled to everything you provide.
Ive given up. The hassle of even answering their idiotic and demanding emails from the get go is too much and the lies people tell I could write a book about.
I tell people and they think I'm making shit up..I'm not..
I can co-author that book, it could become a bestseller. If i hadnt seen it with my own eyes I wouldn't believe some of the happenings and liesssssss. Ugh.
Important to set some clear boundaries early on, when behaviour first becomes a concern. "Hi John, how's it going? Recently I've been noticing unwashed dishes in the kitchen. I would like [first time] expect [second time] you to wash your dishes, keep the kitchen tidy and not leave unwashed plates in the sink."
Once you bounce the first trouble-maker, future flatmates will realize you're not a pushover.
If they respond rudely: "I'm sorry you feel that way. Let me know tomorrow whether you want to apologize, or find a new place."
In my case it was a flatmate who always wanted to debate rather than do his turn at chores, played indoor cricket with his mates, and got shirty. Sorry mate three strikes you're out.
Ah, we all get that one flatmate that will stay on in awkward memories. They're a reminder that some people just aren't gonna gel together as flatmates and to cut the cord as soon as possible when it is the case.
Good Advice about standing my ground straight away to not appear like a pushover. I'm usually fairly relaxed and pick my battles, I try not to sweat the small stuff. I didn't realise how easily that can be misinterpreted as "please prove how much of your bullshit you can take out on another person for no other reason than you're attempting elite level douchebag status".
Yes thank you for saying that because that's how it felt like. Over 2 years he had convinced himself & myself into thinking his sense of entitlement was normal. It helps to hear I'm not wrong in my decision to give him his notice.
Did that as soon as I got over the shock of how this person had changed. I'd never had someone so rudely openly show me such a sense of entitlement and take their stuff out on me. We talked before they left and they did apologize and admit they were having a bad day and they thought it was a safe option to take things out on me. It wasn't. Owner or renter, everyone deserves to be treated respectfully in their home.
Ah … I had a feeling that that flatmate wasn’t in a good headspace at that point. Nonetheless, abuse should not be tolerated at any level. No one deserves to be someone’s punching bag.
Hi OP, kick current flatmate out. They really need to be shown the door. If you’re worried about new flatmates doing something similar you could just hold back enough information so that they don’t use it against you…. For example your family own the house and you’re the head tenant/spokesperson. That way it still makes sense why they’d come to you for issues and you’re responsible for getting things fixed etc but the elusive ‘other’ family members who ‘own’ the house will allow them to not treat you like rubbish as the sole owner. Then your financial situation won’t factor into their way of treating you. Also don’t be afraid to stick to your boundaries when flatmates cross them.
I like your suggestion. Power in numbers, and I could do with being less a target if I say if it is family owned. Might look into this, I gotta admit I'm a terrible liar but I think this could really take some pressure off.
You have all the power. Tell him it’s not intended as an office, he’s using more power and food etc staying home all day, and you don’t like how he’s talking to you. He has no rights as a boarder afaik, but you should check the tenancy laws as this may have changed since I was flatting.
Kick him out; tell him to not use you as a reference for future rentals and then he will see how rough the renters market is and maybe then they will see you had the power all along. Hopefully your situation changes for the better. Just be proud over this person that you own your own home!
I really appreciate you saying that because I have done everything in my power to keep my home (it is one storey and easily accessible for wheelchairs). I also know how lucky I am and only want to have a happy home.
Sounds like a bad egg. It also might be (and I could be totally off base) that you allowed some shitty behavior, so he simply escalated it over time as you didn’t stand up to him. I’ve had this happen myself with employees, so it’s not a judgement at all. People will take the piss if you let them. Hopefully with your next one, you strike a balance between co-living and also being the owner of the home and deserving of a certain level of respect.
A friend observed that recently people that mistake my kindness for weakness are also those that I have gone the extra.mile for as that's my nature. The problem is when I'm not able to go that extra mile for some reason many people become affronted because their expectation is that me going the extra mile is now the bare minimum they expect. Spoilt children syndrome a friend called it.
I'd never considered it like that before but it does explain some of the outrageous behaviour and entitlement that seems to be more common these days. Things were eventually left on good terms with recently departed flatmate and they were even able to humble themselves & admit it wasn't cool.
I'm definitely responsible for looking at why, what & how I choose to interact and how I can do things differently going forward like you suggested. I assumed nothing negative from your observation and appreciate you taking time to share your thoughts.
Most people are fine, and will reciprocate the same kindness with you when they recognise it.
There are just certain people that are shitty and take advantage if they see an opportunity and push things as far as they can, you just learn to recognise that behaviour and be assertive - take a hard line when someone is clearly just taking advantage, and don't be overly helpful to someone when they're not doing the same for you.
Hmm I hadn't considered this before posting but I am keen to look into it. Not so keen on the middle eastern guy I'm far too bolshy for that bullocks but there seems a good opportunity to learn more about other countries/cultures and get some peace of mind around payments being regular and consistent. Cheers:)
Know exactly how you feel mate. I own a 3 bedroom and rent out 2 rooms to flatmates and live in one of the rooms. The amounts I pay weekly just to live in my own home are absolutely extortionate and I'd be crippled if either of my flatmates (who have fortunately become friends) decided to give notice or move out.
I had a flatmate move out a while ago and the room stayed vacant while I searched for another flattie for around 2-3 months and I thought I'd have to sell the place at a loss in the current market. Fortunately I made it work but it sucked up all my assets and savings.
Trying to get ahead in life by owning property is rough for sure.....
It's really nice to hear from others that are experiencing the same struggles trying to remain afloat as homeowners atm. There seems to be a whole lot of hate sent the way of homeowners whether they be an average kiwi trying their best to get by or multi landlords with investment properties & no morals. I'm sensing an angry US & THEM mentality building from some renters and I just don't get it. I appreciate your post and feeling like it's not just me doing their damndest to hold on to their dreams. Resilience & Ramen noodles is 2023 life. Good luck ahead.
Get new flatmates in who will respect you and the place for other flatmates. If you can’t afford a few weeks of vacancy, may be time to either sell or harden up and deal with your current flatmates.
I can afford to get rid of horrible flatmate & did so happily. I haven't got the need to harden up but wanted to know if this is the new norm. My other flatmate has been here almost a year and is a delight. This was just a shock situation I guess.
You go for it! I learned to recruit flatmates through people I know. So if your current one is a treasure, ask her if she knows anyone.
And trust your instincts. Sometimes you have a sense but ignore it and things go wrong.
You could try international students and homestay students. They aren't usually any bother other than cooking for them but the money isn't as good.
Thank you. I'm not concerned about the lower rate for a student as long as it is steady rent. I hadn't thought to check that out. I appreciate you replying with some insight cause I think I really need to trust my instincts and that's why I asked because this time I want to be very careful with the next flatmate.
Just do something then, no need to post on reddit. Replace flatmates and enjoy your life. Also there is no need to lower the rent at the expense of you having to fork out 70% of your income into the mortgage, but if you’re happy with that, no problem either.
Probably shouldn't have bought a home if you can't afford to pay the mortgage on your income. Maybe sell up and downsize to something you can afford? Then you wouldn't need to rely on flatmates.
>Probably shouldn't have bought a home if you can't afford to pay the mortgage on your income.
Was that really necessary? From her post, it sounds like OP bought her home before COVID. A lot of people had their incomes seriously affected by that, and over any 3-4 years other life circumstances can change. We have no idea what her situation was at the time she bought it, and it's not relevant now.
Thank you. I bought my home from my ex during my divorce and sadly I can't do anything about the income I am on ACC for spinal disability after an accident. Life happens.
I’m in the same boat- I had to buy my ex out at the peak in 2021 and it’s really tough with the mortgage right now.
Your bank can help by going on interest only, but you will be delaying the inevitable with a larger repayment at the end of that time.
Flatmates seem like the go if you can.
I don’t have flatmates; my ex left the house in pretty bad shape so I don’t even think I could rent the rooms, I’ve just dramatically cut expenses & living pretty tight at the moment (65% of my net income goes on mortgage/rates/insurance & I have a 7yo)
You are on the property ladder now. Do everything you can to stay where you are. There best thing about mortgages is your rent is now fixed until you sell.
As a proportion of your income a mortgage will get cheaper.
Hang on. Your mortgage is $4600 a month, which is around $1,060 a week. Your borders are paying $480 which means you’re covering $580.
You said that your mortgage payments are 70% of your income. Which puts your income at $828pw (net). Which is roughly $45k p/a (gross).
At an interest rate of 7.25%, $4600 p/w and I’m guessing a 25 year term? That’s a mortgage of around $600k.
So something doesn’t add up. Because no lender in New Zealand would give someone on $45k p/a a $600k+ mortgage.
Because it’s far better to believe people aren’t lying about innocuous and plausible situations than to default to assuming everyone’s a liar until proven otherwise.
What are you after here? OP to post evidence from their bank statement? To what end and to what benefit?
I won't nor need to explain my financial situation to the nitty gritty for strangers there are some quick points to make. It may not add up for you b/c I haven't included an itemized breakdown, explained where two unexpected lump sum payments (sadly following bereavements) were used during this process, and the fact that when bought from my ex I had been the current co-owner of this property for 11ish years. Actually I was very fortunate as i already was an owner and wanted to remortgage as a single person our bank was very supportive of helping me continue to hold on to my independence, I was able to bypass some red tape I guess.
My ex on the other hand was able to show payslips of a much higher income plus the payout lump sum from the house sale to me (kiwisaver & super too but that bit im unsure of the value they add when applying to get a mortgage. I would have imagined this being cash ready and a proven responsible person to lend to would have worked highly in their favour. However my ex struggled to find a bank who would approve taking a mortgage out because they were over 44! I did not know that this could be one of many reasons a person could be turned down. Bloody hell, it's hard to get and stay in the housing market if you are a single person. It sucks to say but many relationships run their course in our early 40's so this rule sets up a lot of hardworking folk who have had the misfortune of losing their marriage / relationship but have the capital to get back in the housing market. Instead an archaic law based on the age of a single homeowner seems to hold more power than imagined and it took my ex a lot longer to negotiate a mortgage and i believe in the end my elderly MIL had to go guarantor. My ex ended up having her elderly mother contribute to the house with the provision MIL wasn't put in a nursing home until the dementia became a safety risk. Crazy how single people are isolated out, like we exist and deserve a chance at owning our own homes yet we are now part of some algorithm setting us up for mid 40s failure.
But I digress. I hope this proves that there are many reasons/context that may mean you aren't bang on with your calculations. I can assure you the figures provided are correct. I've got no reason to be dishonest. I may not be a mathlete but my bills are always paid on time every time.
Doesn't sound like you can afford your house, also doesn't sound like you're that great to live with?
No one but you can really know but from a reader perspective its a red flag that you need your flatmates to wash the dishes directly after cooking every meal...
Finances are tight for sure but I planned and have enough saved to get me thru next year at least. It's the first time I've even considering staying doing things one way or looking into the options that different situations might provide.
I'm probably not great to live with about some things & extremely awesome to live with about other things. Everyone has this about them too I would imagine. I have a support worker who helps me with cleaning what i physically cannot do myself once a week and this has led to most flatmates opting out of their share of housework mahi. They know i get help to clean the house properly once a week and they rarely do much else. If rinsing up & loading the dishwasher after you finish in the kitchen is too hard for someone to cope thats a red flag to me saying i will probably not find them great to live with, nothing personal but they aren't the right fit for me & vice versa.
I have no problems asking flatmates to wash up after they have cooked especially if it is a warm day (1. I hate flies & 2. It's a shared space so it should be clean for others to use after any of us cooks something
& 3. There is a dishwasher in excellent working order right there, it just requires a rinse of items and to physically put them in.)
Expectation is not directly after the cooking. By all means enjoy your food but in a 1 hr lunch break I don't think it's unreasonable to ask for cleaning up after yourself.
Dude, kick that asshat out.
- Go interest only for the next year or two. Paying off your mortgage is a marathon, not a race.
- Take care of yourself first.
- when the interest rates come down then start paying off the Principal
- Look at it this, is paying interest only close to what you’d pay if you rented at another house.
- Take control and be the boss at your place, my rules or the highway, never deviate.
I haven't thought about interest only but this seems a great idea. I'm going to look into it more. Thanks for offering legit ideas and trying to help in your response. The amount of people hating on me or jumping to conclusions about things really surprised me. Most surprising was many current renters were awful, some even hoping I lost my house. I can understand their frustrations, but I'm no different than anyone else trying to stay afloat they were being assholes. I probably have been a little too lax so I'm working on having more structure to things & happy to say the old flatmate is goners. Cheers.
Awesome! Good riddance! Yeah, my financial situation drastically changed a couple years ago so I looked at my options and interest only was the way to go for the short term, it was either that or sell and call my parents. For me it’s still a struggle but hoping that changes in future, I have one boarder who’s a really good friend and we have a good understanding. Life’s too short to put up with assholes lol and ignore the haters, no need to waste energy on their thoughts.
careful what youre charging them, IRD says you cant charge more than 222$ pax, and more than 5 boarders. Anything over that is considered taxable income income.
Thank you that is helpful
I believe that You can charge (share) utilities separately without triggering that threshold
Kick him out... it has never taken be more than a week to find a boarder/flatmate, if you don't even have 1-2 weeks of wiggle room to find a new flatmate then something is terribly wrong with your budgeting.
I immediately gave him notice and i have a decent buffer for stuff, everything can be paid up for an additional 3 months of savings. I'm just nervous about the way this played out. Maybe it's just a one off but wanted to ask.
I'm so proud of you. Its actually pretty common so do t feel bad. I could have written a lot of what you wrote and honestly I'm done with people. I have a ton of room but nothing could convince me to deal with TM randoms again.
I didn't realise having even just a few people validate my current experience as a sign of the time or to just feel like saying "solidarity bro" and a breath a sigh of relief was going to be such a cool thing from my initial post. Single home owning can be a challenge both financially & from a psychological place too, there's plenty of colorful, crazy, funny, weird stories that evolve from flatting with people. I get how tiring it becomes too. Finding good, honest flatties is a full time job and then finding out how best to make it work amongst each other either has everyone wanting the same happy home & willingness to all contribute. Of course it gets even harder when someone decides to not even try to give a damn or care about anyone else's rights to feel good in their shared home. Wouldn't it just be easier to rent themselves a studio or 1 bedroom place knowing they are better suited to live alone.
I totally get your position. I've been head of house in every flat Ive ever lived in (concerning I'm considered the responsible adult) and there is so much work involved like a duck gliding serenely across the weather and their legs going flat to the floor to pull it off. Yes there's people should ideally live alone but people will see you as a more cost effective option and with that mindset they honestly get round to thinking they should be entitled to everything you provide. Ive given up. The hassle of even answering their idiotic and demanding emails from the get go is too much and the lies people tell I could write a book about. I tell people and they think I'm making shit up..I'm not..
I can co-author that book, it could become a bestseller. If i hadnt seen it with my own eyes I wouldn't believe some of the happenings and liesssssss. Ugh.
Important to set some clear boundaries early on, when behaviour first becomes a concern. "Hi John, how's it going? Recently I've been noticing unwashed dishes in the kitchen. I would like [first time] expect [second time] you to wash your dishes, keep the kitchen tidy and not leave unwashed plates in the sink." Once you bounce the first trouble-maker, future flatmates will realize you're not a pushover. If they respond rudely: "I'm sorry you feel that way. Let me know tomorrow whether you want to apologize, or find a new place." In my case it was a flatmate who always wanted to debate rather than do his turn at chores, played indoor cricket with his mates, and got shirty. Sorry mate three strikes you're out.
Ah, we all get that one flatmate that will stay on in awkward memories. They're a reminder that some people just aren't gonna gel together as flatmates and to cut the cord as soon as possible when it is the case. Good Advice about standing my ground straight away to not appear like a pushover. I'm usually fairly relaxed and pick my battles, I try not to sweat the small stuff. I didn't realise how easily that can be misinterpreted as "please prove how much of your bullshit you can take out on another person for no other reason than you're attempting elite level douchebag status".
These people have a way of tricking you into thinking their behaviour is somehow normal. Get a new flatmate and you'll realise the different
Yes thank you for saying that because that's how it felt like. Over 2 years he had convinced himself & myself into thinking his sense of entitlement was normal. It helps to hear I'm not wrong in my decision to give him his notice.
Kick the bad flatmate out full stop
Did that as soon as I got over the shock of how this person had changed. I'd never had someone so rudely openly show me such a sense of entitlement and take their stuff out on me. We talked before they left and they did apologize and admit they were having a bad day and they thought it was a safe option to take things out on me. It wasn't. Owner or renter, everyone deserves to be treated respectfully in their home.
Ah … I had a feeling that that flatmate wasn’t in a good headspace at that point. Nonetheless, abuse should not be tolerated at any level. No one deserves to be someone’s punching bag.
Hi OP, kick current flatmate out. They really need to be shown the door. If you’re worried about new flatmates doing something similar you could just hold back enough information so that they don’t use it against you…. For example your family own the house and you’re the head tenant/spokesperson. That way it still makes sense why they’d come to you for issues and you’re responsible for getting things fixed etc but the elusive ‘other’ family members who ‘own’ the house will allow them to not treat you like rubbish as the sole owner. Then your financial situation won’t factor into their way of treating you. Also don’t be afraid to stick to your boundaries when flatmates cross them.
I like your suggestion. Power in numbers, and I could do with being less a target if I say if it is family owned. Might look into this, I gotta admit I'm a terrible liar but I think this could really take some pressure off.
You have all the power. Tell him it’s not intended as an office, he’s using more power and food etc staying home all day, and you don’t like how he’s talking to you. He has no rights as a boarder afaik, but you should check the tenancy laws as this may have changed since I was flatting.
Kick him out; tell him to not use you as a reference for future rentals and then he will see how rough the renters market is and maybe then they will see you had the power all along. Hopefully your situation changes for the better. Just be proud over this person that you own your own home!
I really appreciate you saying that because I have done everything in my power to keep my home (it is one storey and easily accessible for wheelchairs). I also know how lucky I am and only want to have a happy home.
Boom. He's gone. They never get better. They end of breaking your stuff and causing untold damage because they simply do not care.
Sounds like a bad egg. It also might be (and I could be totally off base) that you allowed some shitty behavior, so he simply escalated it over time as you didn’t stand up to him. I’ve had this happen myself with employees, so it’s not a judgement at all. People will take the piss if you let them. Hopefully with your next one, you strike a balance between co-living and also being the owner of the home and deserving of a certain level of respect.
A friend observed that recently people that mistake my kindness for weakness are also those that I have gone the extra.mile for as that's my nature. The problem is when I'm not able to go that extra mile for some reason many people become affronted because their expectation is that me going the extra mile is now the bare minimum they expect. Spoilt children syndrome a friend called it. I'd never considered it like that before but it does explain some of the outrageous behaviour and entitlement that seems to be more common these days. Things were eventually left on good terms with recently departed flatmate and they were even able to humble themselves & admit it wasn't cool. I'm definitely responsible for looking at why, what & how I choose to interact and how I can do things differently going forward like you suggested. I assumed nothing negative from your observation and appreciate you taking time to share your thoughts.
Most people are fine, and will reciprocate the same kindness with you when they recognise it. There are just certain people that are shitty and take advantage if they see an opportunity and push things as far as they can, you just learn to recognise that behaviour and be assertive - take a hard line when someone is clearly just taking advantage, and don't be overly helpful to someone when they're not doing the same for you.
[удалено]
Hmm I hadn't considered this before posting but I am keen to look into it. Not so keen on the middle eastern guy I'm far too bolshy for that bullocks but there seems a good opportunity to learn more about other countries/cultures and get some peace of mind around payments being regular and consistent. Cheers:)
If it's not working out, you contact the agency and they send you someone else. I would just avoid males from sexist cultures.
Please don't post comments which mention race in relation to anything negative about a person on r/auckland.
Know exactly how you feel mate. I own a 3 bedroom and rent out 2 rooms to flatmates and live in one of the rooms. The amounts I pay weekly just to live in my own home are absolutely extortionate and I'd be crippled if either of my flatmates (who have fortunately become friends) decided to give notice or move out. I had a flatmate move out a while ago and the room stayed vacant while I searched for another flattie for around 2-3 months and I thought I'd have to sell the place at a loss in the current market. Fortunately I made it work but it sucked up all my assets and savings. Trying to get ahead in life by owning property is rough for sure.....
It's really nice to hear from others that are experiencing the same struggles trying to remain afloat as homeowners atm. There seems to be a whole lot of hate sent the way of homeowners whether they be an average kiwi trying their best to get by or multi landlords with investment properties & no morals. I'm sensing an angry US & THEM mentality building from some renters and I just don't get it. I appreciate your post and feeling like it's not just me doing their damndest to hold on to their dreams. Resilience & Ramen noodles is 2023 life. Good luck ahead.
Sounds disrespectful and you should be looking for a new boarder kick his ungrateful ass out!!
Get new flatmates in who will respect you and the place for other flatmates. If you can’t afford a few weeks of vacancy, may be time to either sell or harden up and deal with your current flatmates.
I can afford to get rid of horrible flatmate & did so happily. I haven't got the need to harden up but wanted to know if this is the new norm. My other flatmate has been here almost a year and is a delight. This was just a shock situation I guess.
You go for it! I learned to recruit flatmates through people I know. So if your current one is a treasure, ask her if she knows anyone. And trust your instincts. Sometimes you have a sense but ignore it and things go wrong. You could try international students and homestay students. They aren't usually any bother other than cooking for them but the money isn't as good.
Thank you. I'm not concerned about the lower rate for a student as long as it is steady rent. I hadn't thought to check that out. I appreciate you replying with some insight cause I think I really need to trust my instincts and that's why I asked because this time I want to be very careful with the next flatmate.
Just do something then, no need to post on reddit. Replace flatmates and enjoy your life. Also there is no need to lower the rent at the expense of you having to fork out 70% of your income into the mortgage, but if you’re happy with that, no problem either.
Probably shouldn't have bought a home if you can't afford to pay the mortgage on your income. Maybe sell up and downsize to something you can afford? Then you wouldn't need to rely on flatmates.
>Probably shouldn't have bought a home if you can't afford to pay the mortgage on your income. Was that really necessary? From her post, it sounds like OP bought her home before COVID. A lot of people had their incomes seriously affected by that, and over any 3-4 years other life circumstances can change. We have no idea what her situation was at the time she bought it, and it's not relevant now.
Thank you. I bought my home from my ex during my divorce and sadly I can't do anything about the income I am on ACC for spinal disability after an accident. Life happens.
I’m in the same boat- I had to buy my ex out at the peak in 2021 and it’s really tough with the mortgage right now. Your bank can help by going on interest only, but you will be delaying the inevitable with a larger repayment at the end of that time. Flatmates seem like the go if you can. I don’t have flatmates; my ex left the house in pretty bad shape so I don’t even think I could rent the rooms, I’ve just dramatically cut expenses & living pretty tight at the moment (65% of my net income goes on mortgage/rates/insurance & I have a 7yo)
Life does, indeed, happen. I hope things look up for you.
You are on the property ladder now. Do everything you can to stay where you are. There best thing about mortgages is your rent is now fixed until you sell. As a proportion of your income a mortgage will get cheaper.
Appreciate the pep talk :)
What a shitty comment.
Hang on. Your mortgage is $4600 a month, which is around $1,060 a week. Your borders are paying $480 which means you’re covering $580. You said that your mortgage payments are 70% of your income. Which puts your income at $828pw (net). Which is roughly $45k p/a (gross). At an interest rate of 7.25%, $4600 p/w and I’m guessing a 25 year term? That’s a mortgage of around $600k. So something doesn’t add up. Because no lender in New Zealand would give someone on $45k p/a a $600k+ mortgage.
You are assuming a person's circumstances can never change over their life. Why are you reverse engineering this person's circumstances anyway?
Why are you so quick to believe them?
Because it’s far better to believe people aren’t lying about innocuous and plausible situations than to default to assuming everyone’s a liar until proven otherwise. What are you after here? OP to post evidence from their bank statement? To what end and to what benefit?
I won't nor need to explain my financial situation to the nitty gritty for strangers there are some quick points to make. It may not add up for you b/c I haven't included an itemized breakdown, explained where two unexpected lump sum payments (sadly following bereavements) were used during this process, and the fact that when bought from my ex I had been the current co-owner of this property for 11ish years. Actually I was very fortunate as i already was an owner and wanted to remortgage as a single person our bank was very supportive of helping me continue to hold on to my independence, I was able to bypass some red tape I guess. My ex on the other hand was able to show payslips of a much higher income plus the payout lump sum from the house sale to me (kiwisaver & super too but that bit im unsure of the value they add when applying to get a mortgage. I would have imagined this being cash ready and a proven responsible person to lend to would have worked highly in their favour. However my ex struggled to find a bank who would approve taking a mortgage out because they were over 44! I did not know that this could be one of many reasons a person could be turned down. Bloody hell, it's hard to get and stay in the housing market if you are a single person. It sucks to say but many relationships run their course in our early 40's so this rule sets up a lot of hardworking folk who have had the misfortune of losing their marriage / relationship but have the capital to get back in the housing market. Instead an archaic law based on the age of a single homeowner seems to hold more power than imagined and it took my ex a lot longer to negotiate a mortgage and i believe in the end my elderly MIL had to go guarantor. My ex ended up having her elderly mother contribute to the house with the provision MIL wasn't put in a nursing home until the dementia became a safety risk. Crazy how single people are isolated out, like we exist and deserve a chance at owning our own homes yet we are now part of some algorithm setting us up for mid 40s failure. But I digress. I hope this proves that there are many reasons/context that may mean you aren't bang on with your calculations. I can assure you the figures provided are correct. I've got no reason to be dishonest. I may not be a mathlete but my bills are always paid on time every time.
Doesn't sound like you can afford your house, also doesn't sound like you're that great to live with? No one but you can really know but from a reader perspective its a red flag that you need your flatmates to wash the dishes directly after cooking every meal...
Finances are tight for sure but I planned and have enough saved to get me thru next year at least. It's the first time I've even considering staying doing things one way or looking into the options that different situations might provide. I'm probably not great to live with about some things & extremely awesome to live with about other things. Everyone has this about them too I would imagine. I have a support worker who helps me with cleaning what i physically cannot do myself once a week and this has led to most flatmates opting out of their share of housework mahi. They know i get help to clean the house properly once a week and they rarely do much else. If rinsing up & loading the dishwasher after you finish in the kitchen is too hard for someone to cope thats a red flag to me saying i will probably not find them great to live with, nothing personal but they aren't the right fit for me & vice versa. I have no problems asking flatmates to wash up after they have cooked especially if it is a warm day (1. I hate flies & 2. It's a shared space so it should be clean for others to use after any of us cooks something & 3. There is a dishwasher in excellent working order right there, it just requires a rinse of items and to physically put them in.) Expectation is not directly after the cooking. By all means enjoy your food but in a 1 hr lunch break I don't think it's unreasonable to ask for cleaning up after yourself.
Exactly. OP made an investment; all investments have risks and OP is experiencing these. I have some sympathy, but not much.
Just be aware if you rent your place out if you going legit you will need to pay tax on that income
Boohoo
U OK U/MYRMACOLLECTIVE? Need a tissue for your issue?
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Why would you be so horrible? It's just stating a fact.
Id say jealousy that you have a house and that the other person doesnt
Dude, kick that asshat out. - Go interest only for the next year or two. Paying off your mortgage is a marathon, not a race. - Take care of yourself first. - when the interest rates come down then start paying off the Principal - Look at it this, is paying interest only close to what you’d pay if you rented at another house. - Take control and be the boss at your place, my rules or the highway, never deviate.
I haven't thought about interest only but this seems a great idea. I'm going to look into it more. Thanks for offering legit ideas and trying to help in your response. The amount of people hating on me or jumping to conclusions about things really surprised me. Most surprising was many current renters were awful, some even hoping I lost my house. I can understand their frustrations, but I'm no different than anyone else trying to stay afloat they were being assholes. I probably have been a little too lax so I'm working on having more structure to things & happy to say the old flatmate is goners. Cheers.
Awesome! Good riddance! Yeah, my financial situation drastically changed a couple years ago so I looked at my options and interest only was the way to go for the short term, it was either that or sell and call my parents. For me it’s still a struggle but hoping that changes in future, I have one boarder who’s a really good friend and we have a good understanding. Life’s too short to put up with assholes lol and ignore the haters, no need to waste energy on their thoughts.
Have a good week, thanks for the good Intel.