'Buying NZ Property – Download the free sample readings!

NZ presents some of the most alluring property in the Western World; particularly given the greater easy of residency, the low cost of property, and the liveability of the country. In addition, there is no capital gains tax, transfer taxes, VAT/GST or wealth taxes in NZ, so rest assured that NZ property is tax-effective! Learn more now!

New Zealand Property Report 2010 - Download the table of contents or buy this 180-page report at our online store for just $US19.95.


Friday, January 1, 2010

How to move to NZ

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Many people are considering a move to NZ. They are either seeking a change, wanting a better life for their kids, resentful of the nation's trends, or otherwise just seeking an adventure for a few years. NZ is certainly an attractive option, though it is not without its drawbacks, so consider the following.
1. Cost of returning: Before moving to NZ consider that you might not like the place. For this reason think carefully before selling your house, disposing of your possessions, placing your dog in quarantine, or shipping your possessions. Even if you don't like NZ and decide to go to Australia (if you can), the costs of moving are just as exorbitant.
2. Exchange rates: The NZD is relatively high at the moment because of the perceived positive outlook for commodities. This outlook is likely to come under challenge in coming years as interest rates rise and global demand cools. Interest rates are low in absolute terms, but given the high levels of household debt in Western markets, people are more vulnerable to higher rates, so demand is more sensitive. This is particularly the case because governments will need to retain bracket creep in order to fund their programs.
3. Research: The first step is to carry out all the research possible. Its not just a case of understanding NZ, but knowing the alternatives. Australia offers a similar but different experience, and there are many other countries besides. You might like the current NZ prime minister, but this is a transient phenomena, so look for longer term trends if you are seeking longer term residency/citizenship. Refer to our NZ Property Guide.
4. Employment: The next step is for the primary income earner to get a job in NZ. There is little point coming to NZ if you have not lined up a job. NZ is a hard country to get a job because, aside from your cultural disadvantages, the local job market is stagnant. You need to ensure you have benefits to offer and that there is market acceptance of your value. Get the job first, even if that means traveling to NZ for a few months. The best thing to do is to take several months off work and travel to NZ to look for work. Most employers will however only look at you if you have a working permit, so be mindful of that. They are probably goal-orientated like you. You will need to establish where you will live. This is hard to do if you have yet to secure a job. Know your options. Most people are likely to end up in Auckland, Christchurch, Hamilton or Wellington, though some of you will be seeking a lifestyle (rural) change.
5. Buying a car: You might come to NZ and not like the place, but why not treat the trip as a holiday anyway. My advice is to get an international drivers licence so you can buy a car. Some of you will know already where you want to live, so you will just want a car for commuting. I recommend going to a car auction house like Turners. I picked up a car there for $3000 and sold it a month later (after driving around NZ) for $4500 in the private market. This will allow you to convey to a real estate agent you are serious about buying a home. If you don't know where you want to buy in NZ, then you might want to campervan around the country. If you are a single person, the cheapest approach is buying a delivery van, and add all the features you need to live short term. You can also use this van to buy and deliver all your basic necessities. There are a number of vans you could look at - Holden Combo, Citroen, Mercedes Transporter, VW Caddy, etc. You should be able to find one of these for under $NZ5000.
6. Renting: It never makes sense to buy before you know a place. It can be expensive staying in a city for a few months. If you are looking for flexible, renting space, I suggest you contact real estates in those areas where you are interested in, and ask if they have a place for rent short term. Most property owners would like a tenant whilst selling a property, particularly a short term tenant willing to accept higher short term rent. Its a good opportunity for you to understand the community, life in NZ, and it will allow you some flexibility if you decide to move to another area. I rented a beach-side 1br house for $120/week. Much cheaper than the $70/night in the local hotel and I offered him a weeks notice to move. I was interested in buying the place, but it was handy accommodation even if he rejected my offer.
7. Family move: Only after you have secured a job would I consider moving the family. At this point you might want to look at longer term accommodation (>6mths), as your family will need to determine whether they like the country. I would be inclined to rent the family home in your home country until your family is satisfied. The exception of course is if you are selling in a falling housing market. Also consider the exchange rate. Renting a furnished house is otherwise the way to go. The merits of shipping all your home possessions will depend on its value. The home furnishings market is more competitive in the USA than NZ, so it might be better to ship if you buy high end furnishings.
8. Buying a home: A year after you arrive, you will have some idea of how much you like NZ. Hopefully you will have taken the opportunity to travel to Australia too to decide if that country suits your lifestyle and career values. That is best done on your way to NZ, or before moving your family.

'Buying NZ Property – Download the free sample readings!

NZ presents some of the most alluring property in the Western World; particularly given the greater easy of residency, the low cost of property, and the liveability of the country. In addition, there is no capital gains tax, transfer taxes, VAT/GST or wealth taxes in NZ, so rest assured that NZ property is tax-effective! Learn more now!

New Zealand Property Report 2010 - Download the table of contents or buy this 180-page report at our online store for just $US19.95.


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Download Table of Contents here.