Transportable Homes are Making Housing Affordable Again
New Zealand house prices are still rising considerably at the moment, at their fastest rate in many years. The national median house price in November 2020 was recorded as the highest ever, coming in at $749,000. Many families are finding it hard to keep up with the increasing cost of housing and are becoming stuck as lifelong renters. One estimate from Statistics NZ reported that the number of families renting is growing and is around 34%.
The market is currently saturated with buyers. Record low interest rates implemented as a response to the COVID recession have made mortgage servicing more affordable. With interest rates at an all-time low, demand for first homes and rental properties has surged, driving house prices to ever higher levels. Sky high house prices that were previously confined to Auckland have now spread all over the country.
So, what’s the solution? Many New Zealand families have begun turning to alternative living solutions, such as transportable homes. Transportable homes are affordable small houses that can be placed anywhere. They are fully fitted with entire kitchens, lounge spaces, bathrooms, and bedrooms. Better yet, they are a far more warm and comfortable option than the living conditions experienced by many tenants and come at a fraction of the cost. That means no more mouldy, damp, cold flats for these innovative people!
Some transportable homes even come with curtains, appliances, and site works, such as those sold by local company Able Spaces. Having the site works done for you means that your home could be fully connected to electricity and plumbing with no hassle.
These houses come in designs with anything from one to four bedrooms, so they are a viable alternative even for larger families. You may be surprised by just how much space is inside these properties.
For some first-home owners, a transportable home is the only way to get their foot on the property ladder. Many are finding that they don’t even need a mortgage to purchase one and can live freehold right from day one – how many other homeowners can say the same?