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  Reply # 2085251 6-Sep-2018 20:50
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I noticed that one way they seem to get trying to get the price down is build on leasehold land, instead of freehold. I read that the kiwibuild homes in Wellington city could be built on leasehold land. Personally I wouldn't buy anything that isn't freehold.


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  Reply # 2085308 7-Sep-2018 07:13
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quickymart: So rent-to-owns don't really happen anymore?

 

I had a quick look after your post. I assumed the total rent goes towards the deposit, and over the rental period, interest, rates, insurance gets added to the house sale value. But no, you pay rent, and barely 1/4 gets put aside for the deposit. The rent seemed high I am unsure if it is rent+ savings, thereby high. An example was saving $135 per week, that will take an age to save a deposit

 

Can you live on one salary and save the other? Or is your wife a stay at home Mum?


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  Reply # 2085330 7-Sep-2018 08:36
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Dulouz:

 

@quickymart: To the person who earlier said "just cut out the luxuries and get creative" - fuzzychicken's post rings true with me. Even cutting out the luxuries and getting creative (what does that mean anyway?) I still barely get by just paying my rent, never mind saving anything.

 

Creative means think about different ways you can make money. If you have a job develop a side hustle. If you don't have a job get out and hustle. You'll be surprised what a little action can create. We have a free market and there are opportunities to provide value and earn revenue everywhere.

 

 

There are basicaly two ways to have more money left over at the end of the week/month

 

     

  1. Cut costs & expenses. Unfortunately, there is a limit to this. There will always be a cost you have to pay.
  2. Improve your earnings potential. There is no limit to how high your income stream can go. Earning a wage requires your physical presence. Royalties, online sales, rental income generally require only the initial input with little continuous maintenance. In addition, by diversifying your income stream you insulate yourself from a failure in one of these streams.

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  Reply # 2085419 7-Sep-2018 10:40
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This is an interesting topic. I am an immigrant so I guess I have a little bit different point of view from born and bread New Zealanders.

 

 

 

I don't think it is impossible to buy a house, it is expensive, but believe me it is way harder in a lot of other countries. There is a couple of issues most of people here seem to have and most of them come from simple entitlement. You should realize nobody owes you anything, life is not fair and you wont get anything for free.

 

 

 

Problems people have here?

 

1) Everybody wants house, not a flat. Seriously, you are living in a city of 1+ million people you can't grow city indefinitely. More apartment buildings need to grow, it is the best way for starting families to get ownership.

 

2) Unwilling to sacrifice. This seems to be a big one with my generation. Nobody is willing to flat with others so they can save money. Cut on take outs, cut on coffees, cut on booze and drugs, cut on vacations... this doesn't mean forever, 3 years of serious saving will give you enough for deposit.

 

3) Poor planning. People start families without having stable income and place to live, then complain they don't have enough to feed the family.

 

4) Can't do attitude. It seems easier to moan than to actually do something about your sh1tty situation.

 

5) Single mothers with too many children who decided that government is better source of income than husband/father. Seriously encouraging this dissolving of family unit by paying huge benefits is why the west world goes to sh1t. We need to go back to encouraging young people to start real families.

 

 

 

In my opinion it is impossible to be poor in NZ, it only happens if you want it to happen. I see immigrants with almost no English getting jobs here in 1-2 weeks after they come with wages easily over $20/hour.

 

I am 30yo, flat with my GF and another couple in 4bedroom house so we have enough space and privacy. I cook about 99% of my meals, drink occasionally and buy new tech gadget anytime I like something, yet I can still save 25-30k a year on seriously under-payed junior IT position.

 

 

 

3 years ago I lived for 4 months in a car working in kiwi orchards, now I almost have enough for the house deposit.

 

 


UHD

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  Reply # 2085917 7-Sep-2018 20:02
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@quickymart how often does your child need to see the specialist? You would be far better off buying something dirt cheap in the provinces and paying the odd air fare and AirBnB than trying to save for an Auckland deposit on your own.

 

Is the specialist your child needs to see only available in Auckland? I also find that pretty hard to believe unless the condition is something incredibly rare.

 

 

 

I find a lot of the complaining about housing prices often boils down to a lack of a budget and a lack of a financial plan. Many (especially younger) people see the news, look at property websites, then begin to cry that they cannot afford the market rate. Not many actually work through a budget and explore their options fully. Far too many spend their entire 20s wasting cash on any and everything and by the time they are 28 and looking seriously at settling realise they have nothing and are nearly a decade behind.

 

 




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  Reply # 2085927 7-Sep-2018 20:55
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UHD and lcl thanks for your posts (and thanks tdgeek for your clarification one), I appreciate the helpful comments, which yours were. My boy has autism and goes to a special school for this condition. In theory we could move elsewhere (both parents are working full time, by the way) but my worry is finding a job that would pay enough or close to what we get now in, say, Dunedin (for example). He would probably get the care he needs in a main centre, but moving to a tiny town my worry is that he wouldn't get the attention he needs for his condition.


UHD

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  Reply # 2085934 7-Sep-2018 21:25
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I have no doubt he would get the attention he needs at any of the facilities listed here: https://education.govt.nz/school/student-support/special-education/day-special-schools-for-students-with-high-needs/

 

There are locations across the country and taking a pay cut to live in a smaller city or town is not the hardship you think it is. If you earn 75% your current rate in a smaller place you are likely a lot better off in terms of cost of living not to mention the benefits of avoiding gridlock traffic.

 

Access to very particular specialists is a valid concern but if it is not required several times a month I'd argue you are better off buying a plane ticket now and again and actually being able to buy and pay off a home in a realistic time frame.




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  Reply # 2085942 7-Sep-2018 22:14
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Thank you UHD, very helpful, I had no idea about that resource for special needs schools. Much appreciated.


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  Reply # 2085957 8-Sep-2018 06:40
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peetter:

 

I am 30yo, flat with my GF and another couple in 4bedroom house so we have enough space and privacy. I cook about 99% of my meals, drink occasionally and buy new tech gadget anytime I like something, yet I can still save 25-30k a year on seriously under-payed junior IT position.

 

 

Can't be too badly paid? If you can save $30k a year, that's the equivalent of someone earning $36k saving every single cent they earn. Or someone earning $90k and saving 50% of their income. 


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  Reply # 2085985 8-Sep-2018 08:52
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mudguard:

 

peetter:

 

I am 30yo, flat with my GF and another couple in 4bedroom house so we have enough space and privacy. I cook about 99% of my meals, drink occasionally and buy new tech gadget anytime I like something, yet I can still save 25-30k a year on seriously under-payed junior IT position.

 

 

Can't be too badly paid? If you can save $30k a year, that's the equivalent of someone earning $36k saving every single cent they earn. Or someone earning $90k and saving 50% of their income. 

 

 

 

 

I said under-paid, not badly paid. I took the job knowing I will earn less to learn, improve and work hard, because I knew it will help me in the future. Average salary for the job I do is 20k hgher than what I am paid.

 

I am not on minimum wage and it wasn't even a point of my post. I would expect anyone at 30 to make more than minimum wage with about 10 years of experience, or 5 years of education and 5 years of experience.

 

But if it is the only thing that you needed to point out from my post, I think you focus on the wrong thing. Even with minimum wage I did the math and would be able to save 5k/year. Not that I would stay on minimum wage any longer than a year...


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  Reply # 2085991 8-Sep-2018 09:48
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peetter:

 

But if it is the only thing that you needed to point out from my post, I think you focus on the wrong thing. Even with minimum wage I did the math and would be able to save 5k/year. Not that I would stay on minimum wage any longer than a year...

 

 

 

 

And saving is something we should do. However saving $5k a year is not going to buy you a house. Even saving $30k a year will mean more than five years of saving to get into a median priced Auckland home. I realise that first home buyers aren't going to be a looking at the median, but do you want to spend $400k on a one bedroom apartment in the city? With potential ground rent increases and body corporate fees?

 

Obviously someone on minimum wage is not necessarily your usual homeowner, and I don't think anyone expects it to be. It is simply that wages haven't kept pace with the rising prices. 


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  Reply # 2086047 8-Sep-2018 10:54
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quickymart:

 

UHD and lcl thanks for your posts (and thanks tdgeek for your clarification one), I appreciate the helpful comments, which yours were. My boy has autism and goes to a special school for this condition. In theory we could move elsewhere (both parents are working full time, by the way) but my worry is finding a job that would pay enough or close to what we get now in, say, Dunedin (for example). 

 

 

Can I ask what line of work you're in?

 

I work in a reasonably well paid professional job in Wellington, and in my job I often collaborate with highly skilled consultants who are based in Hamilton, Christchurch or Dunedin. If a house one of those places is $300k+ cheaper than the equivalent house in Auckland then I would be very surprised if you couldn't be financially better off elsewhere but you would have to do some research and crunch some numbers. Don't just make assumptions.


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  Reply # 2086051 8-Sep-2018 11:08
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mudguard:

 

peetter:

 

But if it is the only thing that you needed to point out from my post, I think you focus on the wrong thing. Even with minimum wage I did the math and would be able to save 5k/year. Not that I would stay on minimum wage any longer than a year...

 

 

 

 

And saving is something we should do. However saving $5k a year is not going to buy you a house. Even saving $30k a year will mean more than five years of saving to get into a median priced Auckland home. I realise that first home buyers aren't going to be a looking at the median, but do you want to spend $400k on a one bedroom apartment in the city? With potential ground rent increases and body corporate fees?

 

Obviously someone on minimum wage is not necessarily your usual homeowner, and I don't think anyone expects it to be. It is simply that wages haven't kept pace with the rising prices. 

 

 

 

 

It is 5-6 years for single person. That seems okay to me. Look I agree it is not cheap here, but definitely not something impossible. All it takes is work on yourself and sacrifice a little to gain a lot. This is still a first world, what is considered poor here is filthy rich in like 70% of world. When somebody is talking about starving children in NZ, they mean the child not having 3-5 meals a day, not a child having a meal one in 3 days.


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  Reply # 2086052 8-Sep-2018 11:08
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I think Chch is pretty affordable




Swype on iOS is detrimental to accurate typing. Apologies in advance.




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  Reply # 2086163 8-Sep-2018 18:18
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alasta:

 

quickymart:

 

UHD and lcl thanks for your posts (and thanks tdgeek for your clarification one), I appreciate the helpful comments, which yours were. My boy has autism and goes to a special school for this condition. In theory we could move elsewhere (both parents are working full time, by the way) but my worry is finding a job that would pay enough or close to what we get now in, say, Dunedin (for example). 

 

 

Can I ask what line of work you're in?

 

I work in a reasonably well paid professional job in Wellington, and in my job I often collaborate with highly skilled consultants who are based in Hamilton, Christchurch or Dunedin. If a house one of those places is $300k+ cheaper than the equivalent house in Auckland then I would be very surprised if you couldn't be financially better off elsewhere but you would have to do some research and crunch some numbers. Don't just make assumptions.

 

 

IT/Telecommunications, and it pays okay. But if I could somehow get my Auckland salary in Dunedin (to pick a place) I would be doing really well.


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