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Thread: Would you make the move if this was your situation?

  1. #1
    Join Date
    Jan 2015
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    Netherland
    Posts
    66

    Default Would you make the move if this was your situation?

    Hi all,

    Iíve second doubts about whether I should go to New Zealand. Not sure if itís financially wise.

    - Salary 120.000 annually.
    - Family consists of 2 adults and 2 kids (1 & 6 years)
    - 1 kid will need to attend primarily school. (Fee?)
    - No car required.
    - Unfortunately we have a mortgage in the country where weíre from. Our mortgage converted would be approx. 505 NZD per week.
    - Seeking for an accommodation for approx. 500 NZD per week.
    - Not sure if electricity, water, internet etc. are included in the price in NZ.
    - Basic insurance for the entire family.
    - Food around 350 NZD per week.

    I really want to take the offer and move to NZ, but Iím afraid that we canít cover the costs. (Due to our mortgage in our home place)
    Hope to get some honest opinions here. Would you do it?
    Cheers, J

  2. #2
    Join Date
    Jan 2012
    Location
    Takapuna
    Posts
    464

    Default

    Most people would presumably undertake an effort to have their foreign mortgage covered in their absence that doesn't cost them (eg renting).

    Depending on where and how you prefer to live, $500/week is probably quite light, I'd add $100 to that budget. It will not cover water (unless the house is on tank), electricity, Internet, TV, phone, rubbish collection, etc...

    Commute costs?

    If you insist on covering the the overseas mortgage, I'd suggest it's doable at 120k, but not with a lot to spare.

  3. #3
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    Jan 2015
    Location
    Netherland
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    Default

    Quote Originally Posted by G-Mo View Post
    Most people would presumably undertake an effort to have their foreign mortgage covered in their absence that doesn't cost them (eg renting).

    Depending on where and how you prefer to live, $500/week is probably quite light, I'd add $100 to that budget. It will not cover water (unless the house is on tank), electricity, Internet, TV, phone, rubbish collection, etc...

    Commute costs?

    If you insist on covering the the overseas mortgage, I'd suggest it's doable at 120k, but not with a lot to spare.
    Hello G-Mo,

    Thanks for the quick reply.

    Yes, renting would have our preference, but the housing market here really terrible. Chances are that I won't be able to rent out my house.

    $500 too light? I always thought that $500 was relatively high already, but again I haven't cross-check it with location etc. (I'll look into that now)

  4. #4
    Join Date
    Jul 2010
    Location
    California to Tasman Bay
    Posts
    1,135

    Default

    Quote Originally Posted by jirax View Post
    $500 too light? I always thought that $500 was relatively high already, but again I haven't cross-check it with location etc. (I'll look into that now)
    It really does depend on your location. There are many places where $500 a week is more than enough.

  5. #5
    Join Date
    Sep 2007
    Location
    Auckland!
    Posts
    104

    Default

    Clearly you've considered selling your house and decided not to, and you say the rental market at home is hard. Have you considered letting your property at far below market rate?

  6. #6
    Join Date
    Jan 2015
    Location
    Netherland
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    Quote Originally Posted by Bromley86 View Post
    Clearly you've considered selling your house and decided not to, and you say the rental market at home is hard. Have you considered letting your property at far below market rate?
    Yes, we have but that's not possible as well.
    Our property is currently Ä50000 (approx. $71000) below the price what we initially borrowed.

  7. #7
    Join Date
    Mar 2015
    Location
    New Zealand
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    13

    Default

    http://www.dbh.govt.nz/market-rent lists the average market rent for different sized properties across all suburbs in Auckland and throughout NZ in general. Might help you.

  8. #8
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    Jan 2015
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    Netherland
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    Quote Originally Posted by che26 View Post
    http://www.dbh.govt.nz/market-rent lists the average market rent for different sized properties across all suburbs in Auckland and throughout NZ in general. Might help you.
    Thanks for the link!

  9. #9
    Join Date
    Aug 2005
    Location
    West Auckland
    Posts
    1,029

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    Quote Originally Posted by jirax View Post
    - No car required.
    Living in central Auckland without a car is certainly possible, but without a car you won't be able to do a lot of things like go to beaches or explore the countryside; things like grocery shopping or taking the kids on outings will be more difficult. Auckland is very spread out and public transport coverage isn't great. https://at.govt.nz/bus-train-ferry/

    Basic insurance for the entire family.
    If you are covered by the public health system then you don't need health insurance, but you will need insurance for your home (if you buy a house), contents, and car (if you buy one)
    Food around 350 NZD per week.
    Everyone's needs are different, of course, but personally my family spends about half that on food.

  10. #10
    Join Date
    Feb 2008
    Posts
    35,847

    Default

    Regarding food and other household supplies, most people find that they can spend quite a lot less after they adjust to what are NZ products that are available more cheaply than buying the (necessarily imported) goods they used to buy in their home country. Also there are NZ ways of shopping to learn - there are old threads that give the details.

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