Wayne Potgieter

Correct. Most land and build is 10% down, balance on Certificate of Completion. If you buy your own land, you start paying the mortgage on the land immediately, then you appoint a builder and there are normally 6 progress payments during the build. So you need to have the residual cash through the month to increase those costs. In your scenario, it would make sense to buy the land. Then the two of you collectively share the 6 increasing payments on the 3rd property to sell and realise the profit. Then that can be used to help soften the blow, but that is still big money and very time consuming. It can take ages to get all the consents etc. I still believe land and build is the best way. My idea was always to buy our primary residence land and build. Hopefully it appreciates once built quite quickly and there is equity in the house and we leverage that equity to buy a smaller land and build for investment and to keep doing that until there are 3 houses. one main one and two little rentals. Subsidise the rentals and settle them in a 15 year max window and then gift them to the kids on the following conditions: 1. You cannot sell the house without our approval. 2. Any rental income is your or you choose to live in it. 3. Costs associated are your problem. I think that would be a pretty good start to their adult lives, but it all hinges on the properties growing and there is some uncertainty there.

This is one of the bigger downsides of renting, the place gets pulled out from under you. Has happened to us to and it sucks. Should we all start a weird gloriavale style community together? Only religion allowed is bikes.

Offer fell through. Was not happy with some of the dealings of the developer and have decided to withdraw our offer of the house in Wanaka. Will have to keep looking. Any suggestions? If you could live anywhere in NZ, where would you live and why? Must have access to a airport (a proper one)Must have good schoolsMust not look like ****.

thank the lord for small mercies

My car is frequently hijacked by spiders and gets covered in spiderwebs. Kids have resorted to naming them. Fred lives in the left wing mirror.

Is anyone here looking for a hi spec trail bike in a medium? A good saffa mate (ex GM of Bike Barn) is looking to get rid of one of his bikes.

Easy, sell the cars, buy more bikes.

Amazing skiing and snowboarding. Actually, the houses are built for it. We were there a week ago and it got to -8 real feel. I slept in undies and a tshirt. Double glazing, central heating and well insulated homes. When I was outside, i wore a thermal layer under my jeans and tshirt and then a normal winter jacket.Nothing too crazy.

Wanna store your stuff in Wanaka?

Carpeted garage is pretty standard in Otago. I reckon its for the cold The Media room is the Lounge. Kids play drums and guitar so its nice to have a seperate area for that and to be able to close it up if guests come over. Also, we can move that gear out into the garage and convert it to a guest room for if anyone needs a place to stay (Open offer to hubbers)

So here are a couple of preliminary images/renditions of the house. The floor plan suits us perfectly. We work from home, so the bedroom closest the garage is going to be a home office, the two bedrooms sharing a bathroom will belong to the kiddos and the big bedroom will be my wife's but she may occasionally allow me to use it. Only changes I am making are: 1. The doors to the kids bathrooms are going to be cavity sliders. 2. A garbage disposal to be installed 3. A fireplace for the media room The house will take around 9 months to build and allowing for 1 month for Christmas, it should be ready end July 2021. Just in time to catch the last of the ski season in Cardrona (40 minutes away). Closest international airport is Queenstown. All of this for $950k. The area has a 4 bedroom median index of $1.4m so I think it will grow, although it is not a primary investment. It is our home. Current population of Wanaka is around 13,000 looking to double in the next 5-10 years and a new international airport is being planned for about 20 minutes away (although that will likely take a few years before it gets completed) I can buy a 3 bedroom single garage home (around 150m2) for about $550k so the area is still pretty affordable (not by RSA standards though ) I honestly believe Wanaka is about to have a little property boom and there are not many places in NZ that have that. So I am betting on it. I am insanely nervous. This is a huge amount of money and if it goes belly up, I am up schitt creek (not the tv series). We will likely move down over December/January and take a 6-8 month rental as we get settled. My son finishes primary school this year, so it would be a good time to move and have him start at the new school in the new year. Rentals are also much cheaper than Auckland so it gives us a chance to save 7 months of rental difference. Honestly, if it was not for being able to work remotely, I would not be able to pull this off. So there is a covid silver lining in a bad situation.

The challenge is affording it.

there is a river and a forest right behind where I am standing. It’s on the banks of the Clutha river in Wanaka.

not following?

In a few weeks I will own this land. And then I can build our first NZ home. #wanaka

Some more pics.

So our trip down to the South Island is underway and I think Wanaka might be on the list for a place to buy a house. Relatively good pricing. New developments. Good schools and pretty as all hell.

yep.

Nice little ride yesterday morning. Gorgeous weather.

yep. We classify ourselves as full time vegetarians, part time vegans. Labels are silly.

Actually, I kinda agree here. In my own journey, I did not become a vegan/vegetarian because of science. I also was not emotionally blackmailed into it. It started as exploring different taste options because I got bored with the normal way we cooked. then realised that I felt healthier and more alive (this is extremely subjective) and then began to learn about the environmental and ethical arguments. I find that preachy vegans have the exact opposite effect of what they are trying to achieve. If you want to convince someone to come over to your side of the pasture, its generally better to attract them there with something nice, than to shame them for where they currently sit. That just alienates people and makes you a douche. (not you Arabsandals, the preachy vegans)

As a practicing Vegan - Can I tell you that vegan cheeses absolutely suck. There is no journal article that provides a study on this as it is a universal truth appreciated by each person alive.

the most shocking part of this post is the cheap coffee. #NewMarketCoffeeIsOverpriced

There are not enough like buttons in the world!!!