‘Rental inflation has outpaced both income and price inflation in recent years, with a particular spike beginning in 2016.’ Labour came in in 2017 and has pushed up rent rather than control it and pushed people into poverty. $120 extra in 3 years!Do you actually read these articles or just rabidly chase anti government soundbites...?
Isn't the homeless motel grants declining and the numbers getting the accommodation supplement dropping a good thing?
Why not introduce a housing WOF? Can I eat at am unregulated restaurant? or drive an unwarranted car? Why should renting a house be different?
A responsible landlord would/should realise how privileged they are to be making unprecedented capital gains & ensure there tenants live in a secure and healthy environment.
I'm not at all saying labour have done good at all at stalling house prices - which in turn raise rents...‘Rental inflation has outpaced both income and price inflation in recent years, with a particular spike beginning in 2016.’ Labour came in in 2017 and has pushed up rent rather than control it and pushed people into poverty. $120 extra in 3 years!
Rental WOF - we have rules and regulations. You can take a landlord to the tribunal if the house is not up to standard. A WOF will achieve nothing except add significant cost. This Labour is all about looking good, increasing cost and achieving nothing… across everything they are involved in.
Both…Is your issue with the WOF or that labour can't implement it?
There is away around this which wouldn't effect the majority of landlords (and renters whose rent goes up). Make it mandatory for every rental property to be professionally managed and license the rental managers individually (not their companies or real estate office). Make them answerable to a governing authourity in the same way licensed builders, designers, roofers, etc. are answerable to The Building Practitioners Board. To ensure the properties are managed properly, increase the fines and make the managers responsible for paying them. In other words, get the manager to work for the fee he charges by doing the job correctly for which he's paid for.I agree with wizards rage on the housing wof. It will be a costly bureaucratic nightmare and will drive up rents just like the healthy homes debacle. It imposes a costly standard that isnt relevant or necessary in a lot of cases and that drives up costs and rent.
I also agree that renters shouldn't have to live in unhealthy homes but that comes down to shit landlords a lot of the time and it's difficult to fix that as they will ignore any rules anyway.
Tbh I dont have a answer other than build more so there is more competition but more rules and cost isnt the answer.
Most air pumps are about $10k to be installed, but then they cost a bit to run as well.Look at the healthy home where the air conditioning unit is sized for the coldest day in the coldest part of the country. Most units installed are oversized, inefficient and therefore waste power.
Don't you think its just plain weird that paying off a sub -$200k & selling down to a cheaper region is a newspaper article in this country...
Property prices: How this couple paid off their mortgage in 12 years
"I did a little side-kick and said f*** yeah, in the bag."
That's how Emma Cooper celebrated paying the last $700 on her mortgage.
Aged 35 at the time, it's fair it made for a grand exit from the bank.
The moment of euphoria in 2018 was 12 years in the making. In 2006, they paid less than $175,000 for the home, which they still live in. Today, it is valued up to $600,000.
The couple bought cheap and made use of Doug's skills as a builder to renovate inside and out. The transformation was a "labour of love" done bit by bit, as they could afford it.
That bit-by-bit philosophy ran deep for the Coopers, enabling them to carve 17.5 years off their mortgage and gain financial freedom.
Emma credits Doug for making their money work for them and not the bank.
Her father and late grandfather also passed on valuable advice she still follows today.
"My granddad said you have to have a financial agreement between yourself and your partner. I'm the saver and Doug is the spender. So he paid for the upkeep of our life and those expenses and I paid for the mortgage."
That changed slightly after the birth of their two children, but knocking off their mortgage was still a priority.
Meanwhile, Emma - a teacher - was taught the difference between wants and needs as a youngster.
"My dad told me never to tick something up. If you want something and haven't got the cash, save up. I don't put things on hire purchase and I don't buy into the interest-free marketing ploys."
Making lump-sum payments on the mortgage, always paying more - even when it was only $10 a week, which could shave off nine years - and free kindy had made a huge difference, she says.
Towards the end of their mortgage, which expired in September 2018, Emma says she started to get excited and began picturing in her mind what the bank owned and what they owned.
"It was like we own the house and the bank owns the garage. Now the bank owns the vegetable garden until it got to the bank owns the fence and now all they own is the gate."
Their journey was not "beans on toast" and she says they entertained the idea of upgrading to a flasher house, but decided against it. That has not been ruled out completely, but the Coopers were finding it hard to match what they already have.
"I love it in Mangakakahi, we have a huge section and the kids have a 30m flying fox in the back yard and a treehouse with deck."
They did treat themselves and upgraded their car, and when Doug turned 40 Emma bought him a motorbike. Those were paid for in cash and they have invested in shares for their retirement.
''We are really, really happy and life is just amazing.''
When other couples were out partying Dave Altena and his wife Katrina were painting, sanding, building decks and renovating their doer-upper, 1960s bungalow in Auckland.
That house cost about $400,000 and they spent seven years putting in the hard graft renovating their home - which paid big dividends when they moved to Tauranga with their two children in November 2016.
Dave, who is in his 40s, says it enabled them to build a brand-new brick-and-tile home for upwards of $600,000 that was twice the size.
''Comparing our two houses is like chalk and cheese. Our old house was small and we had to wipe the condensation off the windows every morning in winter.''
They also did not miss spending a third of their income on that mortgage and up to $2000 a month on daycare.
The Altenas are now in the throes of doing some additions to their Ohauiti home that would add value, but will still be mortgage free in four years.
Dave says they have always worked to a budget and by his own admission, ''I'm the financial nerd in my family while Katrina is a little bit more of a spender''.
''But we work together ... and have been lucky because we have good jobs and don't have to scrimp.''
However, in saying that, he is careful with money and the mortgage was a priority.
The Altenas don't ''follow the Joneses" but are firm believers in building wealth.
''Looking towards retirement we want a freehold home and a similar income to what we have now. So we have KiwiSaver and investments.''
The Coopers' top tips to tackle your mortgage• Keep it simple. Be happy to start where you are and not where you want to be.
• Both of you have to want it as much as each other and be driven to get rid of that debt.
• Keep your goal in mind, stick to your long-term plan and don't move the goalposts.
• Communicate with the bank and tell them what you want. When your mortgage is up for review, go in and look at what you can change. Pay weekly if you can.
The Altenas' top tips to tackle your mortgage• Budget and stay away from consumer debt.
• Get on the ladder. Buy a property in an area that's affordable and where you're able to add value. Put your home lending on a term of 15-20 years (or less).
• Build wealth and use KiwiSaver and other investments where possible.
• Develop yourself. Progress your career and earning potential to repay your home loan, fund your lifestyle and invest.
• Take a break to enjoy and reflect. Reflect on your progress, celebrate your wins.
If you actually read the article properly and looked at the link provided, you’d notice that the herald is sharing an article first published in the BOP Times. How funny? A newspaper from BOP writing articles about people in the BOP.Don't you think its just plain weird that paying off a sub -$200k & selling down to a cheaper region is a newspaper article in this country...
We sold up in Auckland and moved down to Tauranga 5 years ago. Value for money, you got double the house/ location for the same price (half the price). It has rocketed up since and almost doubled in value while Auckland stayed stagnant for about 3 of those years.If you actually read the article properly and looked at the link provided, you’d notice that the herald is sharing an article first published in the BOP Times. How funny? A newspaper from BOP writing articles about people in the BOP.
And, there would of course be no way that the fundamentals mentioned in the article about buying a cheaper property, making larger payments than the minimum mortgage repayments and putting sweat equity would EVER translate to another city like, oh, I don‘t know, Auckland.
BTW, Tauranga‘s median house price is less than $200,000 less than Auckland’s. Someone would only have to save $40k more to buy in Auckland than to buy there. Only greater Auckland, Wellington and the Queenstown Lakes district have a higher median price that the Tauranga/Western BOP area…. making it the fourth most expensive in the country.
I have a friend who, 15 years ago, shifted from a "Hardiplank special" house in Papakura to Rotorua because he got a job in Scion, the old forestry institute. For what he got for his house in Papakura, he brought a lifestyle block with a view of Lake Rotoma with a couple of more bedrooms and one more bathroom than he had here. He knows he couldn't afford to come back to Auckland... but he also has no desire to. He paid off that place early and has now got a set of three flats he's renting out.We sold up in Auckland and moved down to Tauranga 5 years ago. Value for money, you got double the house/ location for the same price (half the price). It has rocketed up since and almost doubled in value while Auckland stayed stagnant for about 3 of those years.
Might be time to sell up and move on to Whakatane for an even bigger/ better house