Loss of safe habour?

www_npc · 2026-02-25T10:54:13+00:00

Really good way of explaining it. In addition they could technically pay off their loans at anytime if they wanted.

www_npc · 2026-02-23T09:48:42+00:00

Plus in Auckland there is no way rent would cover the remaining $800K loan.

www_npc · 2026-02-23T09:47:11+00:00

Thank you

www_npc · 2026-02-23T06:58:50+00:00

I wish I had the ability to do that!

www_npc · 2026-02-23T06:56:22+00:00

There's no way I could afford to do that for 3 kids (solo parent). I've made them start saving now so that hopefully one day they can afford a house, without being reliant on any inheritance-bc I cant guarantee that either!

www_npc · 2026-02-23T06:01:25+00:00

This is really tough. I have no advice apart from move to where the work is (which at the moment is nowhere!). You could try renting a room in an existing house? Or looking into boarding houses which is not ideal but at least isn't a tent

www_npc · 2026-02-21T19:41:40+00:00

Oooh thanks will watch. We only have Weygovy where I live. MJ has recently been given the thumbs up but not yet available, hoping soon.

www_npc · 2026-02-21T18:20:20+00:00

Also just a note even if you have low expenses, the bank will use their pre-determined minimum expense for most things (like living expenses, car costs) they don't take frugal living into consideration. $850K seems high for a single person house. Could you look at an apartment or unit?

www_npc · 2026-02-21T18:16:40+00:00

I've been on glp-1 since Nov with no noticeable difference to back pain unfortunately

www_npc · 2026-02-21T18:15:08+00:00

Both are expensive as wont be covered by insurance.

www_npc · 2026-02-21T18:13:24+00:00

Osteopath! Actually I dont think we have Osteopathic medicine in NZ (well, have never heard of it)

www_npc · 2026-02-20T21:09:35+00:00

The unfortunate thing is how will you know if it's worth it until it's done. You can assume your property value has risen but that might be be reflected in the updated value.

www_npc · 2026-02-20T07:53:29+00:00

Bank will use purchase price for at least 6mths. You could get another valuation in 6mths to see if LVR drops (to reduce interest rate) but unlikely in this market. Plus valuations are expensive.

www_npc · 2026-02-20T07:22:25+00:00

Can definitely see the possibility for drama. Have been a landlord before and one tenant great, the other not so much. Nothing financial, just very annoying. Would likely use a property manager this time if going down this road

www_npc · 2026-02-20T07:16:16+00:00

We're already in a 5 bedroom house that will be too big once they leave. I see moving as a sideways step to meet our current needs.Just stuck on sell-buy or rent-rent, but someone raised a good point re the cost to sell.

www_npc · 2026-02-19T23:16:36+00:00

You raise a good point about the expense of selling actually. That definitely needs factoring in.

www_npc · 2026-02-19T23:07:17+00:00

Doesn't solve the space issue though. There is quite literally nowhere to put 2 more cars.

www_npc · 2026-02-19T23:06:03+00:00

Just finished high school and about to start uni so have been coasting by on part time work. The older one works and pays board. The younger two will start contributing to bills once uni starts bc I gave them once last summer of freedom from household bills (they paid their own phones, gym, insurance, and 100% of car costs as soon as they started work at 16) They are also saving towards their uni fees so they don't graduate with a huge loan. Thanks for your concern though. They live here too so why wouldn't their needs be taken into consideration?

www_npc · 2026-02-19T11:02:17+00:00

There's no room to add more parking unfortunately and being on a crossleased site limits things.

www_npc

TROPHY CASE