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23 hours ago, patches said:I was running some housing numbers again the other day (as the housing crisis is always a hot topic in NZ). More numbers around that move from 1 property to 2.
Here's what the scenario is based on
- 1st Property Purchase Price of $1,000,000 (Low for Auckland, but high for most other places)
- 20% deposit and $800,000 loan amount
- 3.5% of principle paid off each year
- 40% deposit requirement for 2nd property, and based on equity only (dangerous as that is, it's all the rage in NZ)
- Based on purchase of 2nd property at equal value to 1st.
- Serviceability of 2nd mortgage not taken into account (as it varies based on income, intent for 2nd property, ie rental, etc).
Here's what my limited financial acumen managed to deduce ????
At 2.5% Growth PA (very conservative)
One would be able to leverage to buy a similar value house (subjected to the same growth) after approx 9yrs.
At 5% Growth PA (fairly conservative)
One would be able to leverage to buy a similar value house (subjected to the same growth) around approx 6.5yrs.
At 7.5% Growth PA
One would be able to leverage to buy a similar value house (subjected to the same growth) around approx 5yrs.
At 10% Growth PA
One would be able to leverage to buy a similar value house (subjected to the same growth) around a little after 4yrs.
At 12.5% Growth PA (not far off in current climate)
One would be able to leverage to buy a similar value house (subjected to the same growth) around a little after 3.5yrs.
I know the NZ property ladder and the lucrativeness of multiple property ownership is no secret. And the old saying "it takes money to make money" always rings true.
I just thought it was interesting to visualise how feasible/possible it really is. It's crazy and just begging for a capital gains tax ????
The start amounts of your 2nd property is a bit unclear to how you get that value.
I guess this is more made up to leveraging off your 1st property to be able to buy your 2nd one and nothing to do with what % of income you are actually putting on on the bond of the 1st one, life expenses etc.
We are sitting with the decision currently if we should be saving for the 2nd property or put as much into the current bond as we can. Our pay back are scheduled around the 15-17years mark now, but we can either reduce that or use the money to save (invest in additional shares to us as a 2nd deposit say in 5 years).
Yeah, so at risk of being fired from the forum - got invited by a buddy to use his wife's eBike to ride out Puhoi valley, back down the Waiwera valley via the far side of the Island.
EBikes are where it is at. Normal bikes are dead. They just don't know it yet.
https://www.strava.com/activities/5070686274
We did an overnight bike trip a couple of months back, easy gravel trails, only 87km... I was shocked to see so many roadie looking guys on e-bikes all the way. We were 2 of maybe 5 or 6 people on pedal bikes. Crazy I think. I can't imagine riding one myself yet, maybe when I'm old, fat or lazy one day.
How far down the page are you guys (in NZ) on the vaccination list ?
I'm in group 2.
But not sure I want to get it now.
No
Its the nicer houses than the old vrot colonial ones scattered about,and I don't want a farm and it suits a lock up and go.
Edit
I thought I would just share the view from the front step
Sad to think (for us) that that's not even 10% of the value of our house we bought here where we will basically be arms length away from our neighbors (at least we have a bit of a coastal view). Crazy.
We are testing out the medical service in NZ again. 
We went riding at Totara park again yesterday, a relaxing family cycle. Layla was with me on the MTB, her dad riding in front of us. We were going slow and still on the very gentle trails at the start. I came around the bend and there Thomas was lying on the ground, helmet off his head back to us. I put Layla down at my bike and went to look at what happend. He was lying unconscious. Blood everywhere. I started yelling for help, I didn't have my phone and at least the park was very busy. People came to help quickly, felt like the ambulance took for ever. He had to be carried quite far. Currently in hospital, a few broken vertebrae, very very bad deep cuts to his face, nose halfway teared off. Crazy! Crazy! That all this damage could happen on a normal piece of trail that had no bumps, not even a big slope. An area our 2 year old will ride with her own bike.
We are in Middlemore hospital and I can't fault the service received here again. The only rediculous thing is the COVID restrictions. Layla can't come with. Now that he is in a ward I'm not really allowed in here either, only visitors for companionate reasons are really allowed (so when the patient is dying).
Eish, don't know what the recovery will look like yet. They are finishing up plastic surgery on his face now which was done under full anesthesia. What a tough few weeks for our little family. Can only go better now.
Interesting that Tauranga is least affordable in terms of salary vs price. We've thought about moving there or Napier for affordability reasons (PS. not really, our kids are just settling in here and we're loathe to move which makes things difficult).
I was in Napier area over Christmas/New years.... Don't do that too your kids! Rather choose Tauranga if you have to.
Property there is a hit or miss at the moment thought, had different friends bought down there there last few months, some got a deal, others not at all I'd say.
Heading out this weekend to hike the Tongariro Crossing.
Anyone done it before?
(I think Hayley has done it)
Yip, when I was 4 months pregnant.
We did it 'in reverse', so started closest to Taupos side.
Enjoy, it's great.
It's the lack of Vitamin D - all that rain makes people depressed.
Where's the rain?
It's scary how dry it has been, definitely not the same place than a few years ago.
I went up north this past weekend, the cows and sheep had no green grass to eat, done areas were actually barely any grass.
After preferring their smaller balance bikes all holiday, the twins were back on the pedal bikes today and riding better than before. (we skipped 14" and went straight to 16", I raised the saddles a bit today, maybe that helped!)
How tall are they?
What is the weight of those 16" Munn bikes?
I'm thinking of skipping 14" for my little one too, she's only 2.5 now but going comfortably on her balance bike and she's quite tall for her age.
So between 7-8 months.
Thats awesome!
I think yours will be much faster due to there not being Covid working restrictions anymore.
Thomas sent his stuff in June. Got his 1st email reply today.
He got the invitation yesterday to his ceremony, it's on the 23rd of Feb.
Pretty cool idea.
Just like those travel scratch maps (largely gathering dust these days), there's a Rotorua redwood trails scratch map.
https://maps4good.co/collections/frontpage/products/whakarewarewa-forest-scratch-off-3d-trail-map
$6 from each map goes to the Rotorua Trails Trust.
So cool!
Going to gift one for Layla on our 1st trip there soon. She can scratch the trails when we completed it. One day (soon) she will be able to go ride them alone.
I say "soon" because last week as she was sitting in front of my MTB on our way home from school she said (in her broken sentences) "mamma, pappa, Layla winkel fiets koop" , so I asked for who is the bike, she said for herself. I replied by saying she has a bike, her reply "gros fiets, trap trap briek stop".
Gros = big (in French)
This holiday I thought her about the brakes on the bicycle and gave her opportunities to use it while upfront on the MTB. She loves the idea of having a big bike, so every time we have been going to a cycle shop (in the last year) she always goes to the bike with the pedals and brakes. She's not ready yet for pedalling I don't think.
FYI - 7-12 month processing window for Citizenship Applications.
Cost $1,400+- for the family of 4
Thomas sent his stuff in June. Got his 1st email reply today.
That last shed is amazing.
We also were considering one a while back as I prefer the bikes to stand on the wheels rather than be hung up.
It is quite sad to say that all but 1 does not have suspension, so I will be okay to hang them. Then again, 'soon' there might be a little bike to add to the shed and at this current rate it will have suspension 
In the new house we will only have a single garage, going down from a double now.
We are already thinking of how we will store everything (mainly bikes x 4, windsurf x 3, bike trailer etc.). What are you guys doing now? We need all bikes to be accessible on a daily basis (because we use different ones during the week) and it needs to be weather proof (=dry). One car will still go into the garage too, so it seems bikes will have to get a shed. I have found these options for some inspiration but keen to know what you guys are doing? Maybe some smart way of getting it all into the garage...
I'm still available. Had thought it was Thursday but obviously I got the date wrong!
Happy for either.
Thursday may work better for me as I can head over straight after work (and won't be all sweaty from squash
)
Happy for either!
I had also thought it was Thursday, which works better for me.
But either is good. Looks like rain will get in the way of my Wednesday evening ride at Riverhead anyway.
Thursday is better for me too.
Back to work only today after a week at Jury service!
If you have kids that like MTBing... I highly recommend you to buy this... Or just buy it for yourself
Went to ride at Totara park yesterday, it was pretty nice!
We'd be going back definitely.
Layla loved it
hayleyearth... now there’s a name i haven’t heard in years.
Not following the right threads
Where the beer is cheapIf you have a better suggestion for venue...?
Look at the specials for the joylab places (I think there is one or 2 places under them there), they typically have nice specials on week day evenings ...
[i'm currently all about saving of course 
]
Trek Checkpoint, bought in NZ.
Edit: why I bought it:
Not a carbon frame (carbon fork though)
2x... Gearset
Disk brakes
Many many options on frame already to mount things. (For bike packing)
Nov 25th?
I'm in. I use the ferry home so anywhere on the viaduct/waterfront/wynyard is good for me. I work @ 104 Fanshawe.
New Zealand - The Good, The Bad and The Ugly.
in Chit chat
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Any engineers / Project Managers in Australia looking for a job?
Or know of anyone there (Victoria mainly or Sydney willing to travel)? PLEASE let me know!!!