Hi Nu_Gen,
Not yet but looking hard right now - I don't want to miss out -- already some places in NZ are out - too much $$$
larry
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Larry
I live on the Central Coast of NSW. Have you purchased any over there yet and have any stories? If not are you planning to?
Nu Gen
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Very interesting comments LeanneS,
Thanks for the post.
Best Regards
Marc
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I grew up in NZ but now live in London. I invest in both.
I chose to invest in NZ because:
1. I know it (my flats are 10 mins walk from where I used to live as a student)
2. I have credit history there
3. It is a much "nicer" market than London, which can be a bit aggressive. I hope this does not change although it seems it may be.
4. It is easy to do business - in terms of bureaucracy etc.
5. No stamp duty or CGT and income tax is fair.
6. It gives me income when I am there
7. It is potentially a way to support other family members there.
8. From a UK point of view entry costs are much lower.
The disadvantages:
1. Weakness of currency - if I work really hard and build up enough passive income to live on in NZ it will not do me much good in any other country.
2. Distance - can only physically view properties or go to banks once a year or so. Not such a problem for viewing properties as I can pay people to do that, but more a problem with contacting banks ("please go into your nearest branch or call us on 0800...") - 0800 numbers don't work from overseas.
3. Time zone - with daylight saving I often can't ring NZ until after 10pm. Then if I am waiting for someone to email or fax me back I end up waking up in the middle of the night to see if its come yet.
4. Harder to keep an eye on how the market changes as I no longer live there. I thought Whangaparoa was a sleepy town full of dope smokers but apparently it is now a very expensive new city.
My 2 cents,
Leanne
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I live in New Zealand, so to me it made sense to invest in my own back yard.
I manage all my own properties, which saves quite a bit of money over time, which I would not be able to do if I lived far from the properties. It never even occurred to me to invest somewhere else.
I purchased my first property when I was 22 in South Auckland, and I still own that property today.
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Hey Nu_Gen,
were do you live?
NZ is a great place with great people and still has cheapo property and does not have stamp duty or cap tax. I found out about NZ through a mate who lives there.
larry
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I got interested a few months ago. I saw a few posts going around and got interested with some of the perks of investing in NZ. Since then I have done much research and still think it is good for the way I want to invest.
I am selling up now and will invest my money over there. I will rent back here.
Is anyone else doing similar?
Nu Gen
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