Results 1 to 3 of 3

Thread: buying a house in NZ

  1. #1
    printman is offline Junior Member
    Join Date
    Dec 2005

    Default buying a house in NZ

    My wife, little girl and I are planning a move to the wonderful world of New Zealand within the next few years and we have some questions concerning buying versus renting when we do get down there. First off, we're not sure about the permanancy of the move but will spend at least a year or two to see how things go. We've visited and love the place but we are keeping the options open. Should we sell the house we have state side and buy in NZ or rent and keep the house we're in now? The main concern is financial. I guess the main question is there any penalty for buying a house and then selling within a year or two if we chose to move back? Are there any special circumstances to be aware of for foreign home buyers? Anything along these lines would be a big help. Thanks folks.

  2. #2
    jamesthecarman's Avatar
    jamesthecarman is offline Oh Masterful One
    Join Date
    Aug 2004
    Cuba Street, Wellington

    Default Re: buying a house in NZ

    I'd be inclined to keep your home in the US, just in case. Plus it will be some extra income.

    I'd also recommend renting until you get a better idea of how permanent your stay will be (you probably know how long you WANT it to be, but give it some time here first). You also may not like the area you are in and fall in love with another part of NZ.

    I'm not sure about penalties for selling shortly after buying.....but as far as foreign investment I don't believe there's anything special. Someone else may know more.

  3. #3
    selchie's Avatar
    selchie is offline All Knowing Deity
    Join Date
    May 2005
    Behind the Redwood Curtain
    Blog Entries

    Default buying a house in NZ

    I agree with James about hanging onto your US house, if you can afford to. We also live on the West Coast, and if we should "fail" in NZ, I doubt we would be able to afford to buy another house here. We figure that we can take out some equity if need be, to buy in NZ.

    We hope to either install a trusted friend in our house at a reduced rent, or have another knowledgeable (and trusted) friend be the property manager and rent it out at market value.

    Good luck.
    If men had wings and bore black feathers, few of them would be clever enough to be crows.
    - Rev. Henry Ward Beecher, mid-1800s

Similar Threads

  1. Buying/changing currency
    By Dawn in forum Making The Move
    Replies: 8
    Last Post: 21-03-2007, 10:46 AM
  2. Buying Cars
    By TheWaters in forum General NZ Chat
    Replies: 8
    Last Post: 27-06-2006, 04:23 PM
  3. buying a business
    By JeffFriggens in forum General NZ Chat
    Replies: 3
    Last Post: 11-02-2006, 05:15 AM
  4. Buying a business
    By SteveyC in forum General NZ Chat
    Replies: 24
    Last Post: 23-11-2005, 03:00 AM
  5. house buying for non residents
    By nattydread in forum Locations / Properties
    Replies: 3
    Last Post: 25-07-2004, 12:41 AM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46