healer

Prices are dropping over here too, which is supposed to make it easier to find a 'cheap' home. I, like Baraka_Guru, am renting but looking to buy. I've only been renting for 6 months and I already know I don't want to extend my lease when this one's up.

What's making it easier (over here) is that our Reserve Bank has dropped the interest rate by 1.5% in the last 6 months, with another 0.5% drop expected next month.

Unfortunately, the volatile economic climate has made getting credit from the banks that much harder. These days, banks want up to 30% down on a home loan. For a first-time buyer like me, that's a crazy amount of money to be able to out down as a deposit. I'm willing to cut out the luxuries in my lifestyle to afford a home, but I'm not going to bankrupt myself.

__________________