Of all the older people I've known, those without a house generally have NO assets at all. Owning a house has at least given something to sell
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Having funds tied up isnt such a bad thing, dumb kiwis are being scammed of their readies by sophisticated rings
https://www.nzherald.co.nz/nz/south-...AO3OJNVS34KTQ/
All these young(er) people heading off to Aussie for better life
I hear even more oldies are following them in droves to be close to their kids and grandchildren
Might not be the need for 10s of thousands of new retirement units after all
Guess Trelise Cooper will not be moving into any of the super-premium RV unit like The Helier anytime soon? Wonder how much she wants for her $10.4m apartment.
https://www.stuff.co.nz/style/350247...nd-quitting-nz
Fashion designer Dame Trelise Cooper has announced she is selling her Auckland apartment and moving overseas, just weeks after moving into her new home.
Cooper told real estate website One Roof the decision to move was for family reasons and the apartment was therefore no longer needed.
“We’ve come to this new chapter, where we have decided family is very important to us,” Cooper said.
The couple’s apartment will go to auction on May 8 and has a CV of $10.5 million.
I think you can even get NZ super while living there.
https://www.mfat.govt.nz/en/countrie...ion%20payments
No doubt health services (and services all round) would be better and cheaper with both more people and low gst.
Lots of fishhooks, so take great care before you make any commitments. And the Australian Age Pension eligibility is means tested.
I'd argue purchasing a house is among the worst "investments" someone can make, especially in New Zealand.
It only works out for you as an investor if you leverage tf up and experience multiple expansion.
Productive assets are the way to go, sensibly priced equities or some private interest in a business.
You can make a motza on rent... Rents in world class cities like melbourne are lower than in auckland (road cones everywhere, potholes, no public transport) and even Wellington.