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July 20, 2007 at 3:03 PM #66822
Ash Housewares
Participant

I would probably be looking at a single condo, not multiple units. The rents run around $300 per week, so if I could buy the place for 150k and put 20% down my payment would be ~$1030 a month, less than I would pay in rent. Of course I haven’t a clue yet what property taxes run over there…

Here’s an example:
http://www.allrealestate.co.nz/cgi-bin/rsearch?a=o&id=104161773&f=0&p=10&t=res&ty=&fmt=&header=&regionid=9101&c=33939061&s=nzni&snf=rbs&tm=1184968853

Thanks for the formula surveyor, I’m sure I’ll be using it for many years.

asragov I know NZ has it’s own bubble…I’m moving from one to another…they seem to be a few years behind the US in their bubble stage though. I’ll probably end up renting; this is more of a learning exercise for me.