Ways to trim off your mortgage going forward: * say your repayment for a month is $2000 pm, if you pay $500 per week, you will trim the years by heaps! Basically paying weekly is better than fortnightly, fortnightly better than 3-weekly beter than monthly😊 Some feel it is easier to manage that in line with their wages * when the bank comes up with a repayment amount, if we can afford, we will increase the repayment amount up to the bank's ceiling. If we can't do it at the time, we would request for it later when we are able to. * Always check whether there are any fees * whenever the interest rates go down, we would tend to stick to the higher repayment amount we have been paying (again if we can comfortably afford to pay). Balance the determination to pay off the mortgage with also putting aside $ for some respite, enjoyment. You dont want the process to be a chore!
Congratulations again! The housing market seems to have gone insane! I used to live in Mt Pleasant in my first flat, I get the area's appeal!I am so happy that you are happy with your new home. (BTW I grew up with German Shepards as pets. I get how much a doggo can make a house a home. May Meredith always find bigger sticks!)
Hi you didn’t say which area you finally bought in, I heard you mention Mt Pleasant a couple of time for properties you were looking at , my folks lived on the hill for 38 years and my sister is still there .
I brought my home without ever having been to the town it's in - read the building inspection, checked with friends their thoughts on the area. Of course, I didn't have children, which would have raised the stakes considerably.
Congratulations on your new home. Well done. We bought our first new home in 93 in South Auckland worth 140k, we went across the neighbours house when they were auctioning theirs, about 3 years ago, and they sold theirs for 750k.... We had a 4 bedroom home and theirs 3.......Ridiculous!! We dont plan on selling up at all since its our family home. I would love to sell up and enjoy life, but I cant do that to my 4 kids. We started with nothing but it dosent mean we should let our kids struggle. I have fond memories of raising our 4 kids all these years in that house.
I bet your home really feels like a home. I moved every two years growing up and always wanted to stay put for longer. I think your kids will be grateful for having a single place to call home for all of those years. ♥️
@eisonnewzealand Yes, it definitely has a homely feel to it, and to sell it to fund our retirement in the next few years....I don't think so, we'll just pass it on to our children. Out of our 4 children, two are still with us, and they have no intention or interest in getting a partner. They love the single life. Each to their own, I say. To us, our children will always be our kids.
Our mortgage is over double what we were paying in rent so we have definitely had to cut down in other areas, but we think it’s worth it in the long run. We assume that housing costs are going to continue to rise and now we feel like we have some skin in the game if we ever want to move!
@@eisonnewzealand I understand! It's crazy that the mortgage payment is over double rent, and then there's insurance and rates too. I think we're going to keep saving and cross our fingers we won't have to pay as much interest.
I am thinking about moving. How long does it take to obtain citizenship, and I heard you automatically gain residency in Australia is that true? @@eisonnewzealand
@@AlexOhioo You can visit without applying for a visa, but if you want to live in Aus you don't get the same social safety net - even if you are paying the same taxes as your Australian neighbours.
Literally so happy for you guys! 🎉✨️ We looked into the housing market there last year and was like "oof, but doable, I think", after your last video I looked again and my heart totally sank. For a home somewhat similar to ours here in the states, it's well over $700k 😭 You mentioned two loans, one for 2 years and one for 18 months, does that mean you need to be paid off by then? Not like a "30-year fixed" situation? Google is not being straightforward with me 😅 I genuinely appreciate and adore your videos/content. I'm sure it can be taxing sometimes, but please know that your guidance and retelling of adventures makes a meaningful impact to others. Thank you for what you do! Very best wishes! ✨️
You’re so kind! Thank you so much! Loans here aren’t fixed for 30 years like the states! You can choose various interest rates and lengths from the bank after they approve your application. Options can be as short as 6 months up to 5 years or so (these are just the options we had- different banks have different options). We had a 2.5% interest rate fixed for 30 years for our house in the states 😂 Definitely sad to no longer have that! The price of the house we bought here, even converted back to USD, is not a number we would have ever considered in the states. In saying that, we love our house and what it means for us and our life!
Are you sure the 0 .75% was not put on to the mortgage at the time you drew it down and not an ongoing 0.75% ? Like say you were borrowing $500000 and they actually lent you $ 503750
Congratulations on buying your first house in New Zealand and on your new puppy Meredith. ❤
Thank you!!
Congrats on your new home!!
Thanks Mark!!!
Wow RUclips just recommended your video to ne for the first time in over 3 months the last video i saw was the one on the Tannery
I’ve made a few since then! I must not be hitting your algorithm!
Thanks for sharing about the process. Hannah and I will be in the same boat eventually!
It was a doozy, but worth it!!
Kia ora and congratulations on your new home!
Thank you so much!
So happy for you guys, and new family member. Congrats
Thank you! 🥹
Awsome i love hearing the positive storys from you and your husband
Awe thank you!! It’s nice to relive them in the videos!
I've lived in Christchurch all my life and still found our building inspector by googling!
I hope you found a good one!
Ways to trim off your mortgage going forward:
* say your repayment for a month is $2000 pm, if you pay $500 per week, you will trim the years by heaps! Basically paying weekly is better than fortnightly, fortnightly better than 3-weekly beter than monthly😊
Some feel it is easier to manage that in line with their wages
* when the bank comes up with a repayment amount, if we can afford, we will increase the repayment amount up to the bank's ceiling. If we can't do it at the time, we would request for it later when we are able to.
* Always check whether there are any fees
* whenever the interest rates go down, we would tend to stick to the higher repayment amount we have been paying (again if we can comfortably afford to pay).
Balance the determination to pay off the mortgage with also putting aside $ for some respite, enjoyment.
You dont want the process to be a chore!
ruclips.net/video/onx47kzdNEo/видео.htmlsi=obdWiKPSdXuUxOVk
Big congratulations all the way from Belgium, guys!
Thank you so much!! ☺️
Congratulations again! The housing market seems to have gone insane! I used to live in Mt Pleasant in my first flat, I get the area's appeal!I am so happy that you are happy with your new home. (BTW I grew up with German Shepards as pets. I get how much a doggo can make a house a home. May Meredith always find bigger sticks!)
Thank you!!! Our dream is to live up on the hill and be able to see the ocean! She always seems to like the sticks better than her actual toys 😂
Hi you didn’t say which area you finally bought in, I heard you mention Mt Pleasant a couple of time for properties you were looking at , my folks lived on the hill for 38 years and my sister is still there .
We are in Woolston! The dream is to live on the hill!
@@eisonnewzealand Nice and handy to The Tannery 😀
We love The Tannery!
First rule of buying a house is don't make a judgement seeing it online. Go see it. The photos do not do them justice.
I agree!!
I brought my home without ever having been to the town it's in - read the building inspection, checked with friends their thoughts on the area.
Of course, I didn't have children, which would have raised the stakes considerably.
Congrats
Thank you!
And you just leave your Christmas decor up as long as you like! 👍🙌😊
We are thinking until the end of January 😂
We also just bought our first home in Christchurch New Zealand in summer 2023 🎉
Congratulations!! Not an easy feat!
Congratulations on your new home.
Well done.
We bought our first new home in 93 in South Auckland worth 140k, we went across the neighbours house when they were auctioning theirs, about 3 years ago, and they sold theirs for 750k.... We had a 4 bedroom home and theirs 3.......Ridiculous!!
We dont plan on selling up at all since its our family home.
I would love to sell up and enjoy life, but I cant do that to my 4 kids.
We started with nothing but it dosent mean we should let our kids struggle.
I have fond memories of raising our 4 kids all these years in that house.
I bet your home really feels like a home. I moved every two years growing up and always wanted to stay put for longer. I think your kids will be grateful for having a single place to call home for all of those years. ♥️
@eisonnewzealand Yes, it definitely has a homely feel to it, and to sell it to fund our retirement in the next few years....I don't think so, we'll just pass it on to our children.
Out of our 4 children, two are still with us, and they have no intention or interest in getting a partner. They love the single life. Each to their own, I say.
To us, our children will always be our kids.
Congrats! We've been residents but renting. Curious to know your thoughts about whether it's most cost effective to rent or to buy!
Our mortgage is over double what we were paying in rent so we have definitely had to cut down in other areas, but we think it’s worth it in the long run. We assume that housing costs are going to continue to rise and now we feel like we have some skin in the game if we ever want to move!
@@eisonnewzealand I understand! It's crazy that the mortgage payment is over double rent, and then there's insurance and rates too. I think we're going to keep saving and cross our fingers we won't have to pay as much interest.
If you want a country life near christchurch, very safe , move to oxford . You get better house for your dollars and usually more land.
Good to know!!
Congrats for your first home. I live in CHC, that is any chance you can let me know the contact details of your builder inspector?
Nice hope you call your selfes kiwis now to everyone
Once we have citizenship I think we can!
I am thinking about moving. How long does it take to obtain citizenship, and I heard you automatically gain residency in Australia is that true? @@eisonnewzealand
@@AlexOhioo So really you want to live in Australia?
@@AlexOhioobut this is NZ!
@@AlexOhioo You can visit without applying for a visa, but if you want to live in Aus you don't get the same social safety net - even if you are paying the same taxes as your Australian neighbours.
Literally so happy for you guys! 🎉✨️
We looked into the housing market there last year and was like "oof, but doable, I think", after your last video I looked again and my heart totally sank. For a home somewhat similar to ours here in the states, it's well over $700k 😭
You mentioned two loans, one for 2 years and one for 18 months, does that mean you need to be paid off by then? Not like a "30-year fixed" situation? Google is not being straightforward with me 😅
I genuinely appreciate and adore your videos/content. I'm sure it can be taxing sometimes, but please know that your guidance and retelling of adventures makes a meaningful impact to others. Thank you for what you do! Very best wishes! ✨️
You’re so kind! Thank you so much!
Loans here aren’t fixed for 30 years like the states! You can choose various interest rates and lengths from the bank after they approve your application. Options can be as short as 6 months up to 5 years or so (these are just the options we had- different banks have different options).
We had a 2.5% interest rate fixed for 30 years for our house in the states 😂 Definitely sad to no longer have that!
The price of the house we bought here, even converted back to USD, is not a number we would have ever considered in the states.
In saying that, we love our house and what it means for us and our life!
Are you sure the 0 .75% was not put on to the mortgage at the time you drew it down and not an ongoing 0.75% ? Like say you were borrowing $500000 and they actually lent you $ 503750
first!
Welcome to the propertied classes 🙂.
Definitely a hard one to break into 🙃
@@eisonnewzealand Yep, I had to go in with friends. A bit risky but's worked out ok. Way cheaper than renting!
You are doing the right, throwing a bunch of $$ at the mortgage righf away. This will pay off big time for you.
And then we at least have some skin in the game!