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Thread: Rental costs

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    rockclimber's Avatar
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    Default Rental costs

    Just looking at house prices etc vs rental cost and there doesn't seem to be any linear connection ie house prices are attractive value for money and very competitive yet the rental costs for say an average house 2/3 bedrooms unfurnished is around $2k/month. Looking at salaries (correct me if I'm wrong) but NZ residents surely aren't paying those premiums on $50/60k salaries??

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    House prices are dropping at the moment due to the market crashing and other financial stuff going on so they will look more attractive. Up until recently prices were going up and up. I guess the lower your salary, the less you would be able to pay in rent. Many people on such a salary would be looking at something for around $200-300 a week or even less. You can check up on rents in the different areas here.
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    Just had a looky there and either I'm looking through the expensivo egencies as I'm finding it rather costly - just trying to work out the budget as I'm planning it worse case - assuming I can't sell my house here I need to then fund both. Also I would be looking to bring my car across as I've heard the public transport in some aresa ain't too accommodating and flexible.

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    Where in the country are you looking?! A 2/3 bed here in Hamilton would be no more than $250 / $300 week unless you went to the really posh bits where it would go up to $400ish.
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    The costs vary greatly depending on area and size of house etc.
    We have a large 4 bed house with several living areas garden and garage with fantastic veiws in a pretty good area outside of Wellington and we are paying just short of $500 a week.

    For us this is cheaper than having to buy a house similar with the amount of mortgage we would have to get.

    If you have a lot of equity to bring over then buying could be a better option. Also bear in mind that if you rent you don't have to pay rates which you would if you bought.
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    The rents in NZ really do vary quite a bit based on where you are. At the moment I'm in a little village in Northland and am paying $300/week for a three bed house on a large plot. We're moving to Auckland in a month or so and I'm in the process of finding a rental house there, and to be in a good area with good schools close to work I'm looking at $500-600 for a four bedroom place and this doesn't guarantee me a garden....
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    Hey Rock-Climber get used to it bud :]] It is expensive to live here. My partner doesn't earn even that much and our rent is 400 a week. We have a fantastic 4 bedroomed villa tho on 4 acres of land surrounded by horses, fields and trees. We live in a a small place on the outskirts of Hamilton known as the Golden Triangle because it's where all the million dollar houses are! We defo could not afford to buy this place. You'd be surprised at what you can rent. It's not the same as in the UK. A lot of those million dollar places are up for rent because they're a second or third houses to the owners, either that or they buy them as an investment but don't want to live in them. They have pools and spas and hectares of pasture.
    At the opposite end of the scale, cars (not so much the European makes) are dirt cheap so think again about bringing yours unless you're particularly attached to it. Check out TradeMe and you'll see what I mean.

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    hi dawn, your rental house comes with pools and spas!?!? wow!!
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    Quote Originally Posted by Dawn View Post
    Hey Rock-Climber get used to it bud :]] It is expensive to live here. My partner doesn't earn even that much and our rent is 400 a week. We have a fantastic 4 bedroomed villa tho on 4 acres of land surrounded by horses, fields and trees. We live in a a small place on the outskirts of Hamilton known as the Golden Triangle because it's where all the million dollar houses are! We defo could not afford to buy this place. You'd be surprised at what you can rent. It's not the same as in the UK. A lot of those million dollar places are up for rent because they're a second or third houses to the owners, either that or they buy them as an investment but don't want to live in them. They have pools and spas and hectares of pasture.
    At the opposite end of the scale, cars (not so much the European makes) are dirt cheap so think again about bringing yours unless you're particularly attached to it. Check out TradeMe and you'll see what I mean.

    Happy house hunting!!
    Gotcha - thanks will do more research - is rental then the preferred life option to buying ???

    As for my car I have a landy, we go back many years and have travelled many places and is more dear to me than dare I say my OH . . . . . . .

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    Quote Originally Posted by rasin View Post
    hi dawn, your rental house comes with pools and spas!?!? wow!!
    No Rasin, I said some do :[[ unfortunately we missed out on the pool thing. We do have a spa tho, but we bought that.

    We are currently looking for a bigger rental just now. Here are a couple we've looked at For Rent Trade Me Property & New Zealand Real Estate - Tamahere, 5 bedrooms, $550 pw - TradeMe.co.nz - New Zealand and
    For Rent Trade Me Property & New Zealand Real Estate - Tamahere, 4 bedrooms, $580 pw - TradeMe.co.nz - New Zealand. The second one is too small though.

    Rockclimber, a lot of people rent here, it's defo cheaper than buying but of course, you have nothing to show for it at the end. We do intend to buy at some point but right now we can't afford to. We figured why buy a cheap house stuffed in between several others with a tiny space for a garden, when we can rent for less, in something like one of those two? It certainly makes coming home at the end of the day a bit more enjoyable eh? Not only that, with a Newfie and an Old English Sheepdog, we need space. (By the waysies peepsies, might be getting a new baby, lil girl :]] I'll keep you informed).

    I wouldn't say anything about your Landy being THAT important to you within earshot of the Mrs tho matey!!
    Passionate about the unfathomableness opportunities of kiwi-a-gogo-land

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