Advice for Expats and Returning New Zealanders
September 2024: UPDATE
Happy 1st day of Spring and New Zealand Father's Day!
Happy American Labor Day! (Click the photo above for live beach cams around New Zealand)
Enjoy this cute video on How to be a Kiwi Dad which which reflects our more casual approach to children. Jandals (flip flops) are the first item you will need for beach walking and are acceptable in most settings although the ubiquitous Crocks are also prevalent. https://www.youtube.com/watch?v=pkyAVRLwG00
TIP: when you visit a friend's home, always take your shoes off at the door (don't wait to be asked).
Today, take a long deep breath and feel sun warm your face...then head for the beach or a long walk to your local. The water is still brisk depending on your location. It's thrilling to get my toes into the sand and splash in the shallows. Last night we had a torrential rain in Auckland with real thunder (!) professing that winter is not over - but the calm air today gives one a sense of hope that winter will soon be behind us.
FYI: Father's Day in the South Pacific is always the 1st Sunday in September. If you are already here - relax and soak up the rays today. We are not out of the winter woods just yet!
Happy American Labor Day!
Our New Zealand Labour Day on the 4th Monday of October, is a day off for many New Zealanders and an annual public holiday. You'll get used to it, I promise.
RESOURCE LINKS:
Tony’s View is the most readable economic update on monetary policy and New Zealand business. Now that the Reserve Bank of New Zealand/RBNZ has begun to lower the Official Cash Rate/OCR mortgage interest rates are following. RBNZ seems to be taking the hint that New Zealanders are not pleased with our current cost of living and our coalition government is scrambling.
Tony's down to earth qualitative data is supported by surveys of industry professionals on such things as market and business confidence. He was a NZ bank economist for over 25 years and knows his stuff.
Corelogic is the top source for investors in real estate. As a potential home buyer relocating to New Zealand you will want to check out your target areas in the Corelogic report. Core Logic is focused on home values and sales data. They document property trends around the country in detail and compare regional prices.
UPDATE 14 August: GOOD NEWS: the New Zealand OCR (Over the Counter Rate) was reduced by .25% to 5.25% by the RBNZ. Our top 4 main banks are currently lowering easing mortgage rates in line with an expected trend toward home loan rates in the 5% range in mid 2025. Feel free to call to discuss OCR today's trends.
Spring Warmups!
September is still a little early for most people to be out on the home buyer trail as sellers are getting their properties market ready. It's a great time to plan your move. I can help you get a feel for what's going on in your target area, whether you need financing or just a sharp pair of eyes and ears to interpret your target property specifics. Few expats are familiar with our Kiwi construction quirks, contracts, and title issues including iwi and conservation convenants. We don't have buyer's agents here so that's an interesting conversation in itself.
On Your Way?
If you are booking your ticket to New Zealand, check out Air New Zealand and Qantas special shoulder season rates. (I like flying direct Air NZ out of Vancouver if you are on the West Coast or from JFK/NYC). I've noticed that certain calendar days are cheaper and more available so shop around. October to mid February prices will be higher for sure.
While the temperatures are warming up here quickly, you WILL need a rain jacket and a few light layers. The sea is sparkling…and a few hardy souls are already swimming without wetsuits. Not me!
Timing Matters:
If you’re coming to New Zealand with a secure job opportunity you’ll be arriving just as house prices are starting to warm up so you'll need to be in a competitive mindset. Many New Zealand cities are prime tourist zones so finding temporary accommodation can be a fight this time of year. Most people like AirB&B and Booking.com or Bookabach.co.nz.
Whether you just need a friendly face on arrival or a handler for all aspects of your move - just call. I'd love to meet you at the airport if you are flying into Auckland for a little grip and grin!
Definitely organize your Visa(s) and potential job offers before you arrive. I can point you to the right people and resources. Our recent influx of expats and government initiatives (cutbacks) has slowed things down so expect delays.
I can also help make those all-important business connections. I would not recommend my last return method...which was a very short exit ramp clutching a one-way ticket and no real plan. To be fair I had a friend waiting for me at the airport and a guest suite on offer but I didn't have an up-to-date NZ passport so that was fun. I've made most mistakes so you don't have to!
With the recent OCR cut, banks are getting busier which means longer approval time frames. My mortgage team can get the ball rolling for you - even before you arrive. A bank offer letter is good for 60 to 90 days and up to 12 months for a newbuild. So don’t put it off!
If you don't need financing, I can assist with assessments, negotiations, property reviews, securing legal advice, etc. In fact, if you have not purchased a home in New Zealand in the last decade you will find the changed landscape baffling. My expertise in property construction (I studied architecture at university) and land issues will come in very handy.
Let’s schedule a free 20-minute chat or Zoom when you’re ready.
Expat Expert Simon Laurent, NZ Immigration Lawyer.
Listen on Overseas Investors: Simon's very informative podcast hosted byUGlobal about the New Zealand Active Investor Visa. NOTE: Visa programs change all the time! Simon has generously offered a complimentary chat for our clients so be sure and contact me to organize an introduction.
Who you know is essential in New Zealand. Tax planning for investors will be a major consideration as well and I can introduce you to tax pros who understand the issues. Our Expat Experts are growing...so stay tuned.
You Have a Friend in New Zealand
Let me be your bespoke expat adviser, your eyes, ears, and personal handler both before and after you arrive. I’m on call for you, literally, wherever you are around the world, to help you get your best New Zealand life.
I can help by assessing your options (with or without financing) and introducing my colleagues to share their expertise on everything from visas to mortgages, insurance or business networking. You can literally ask me anything and I’ll find a way.
A special shout out to new expats who recently arrived in New Zealand! If you are finding the housing and business climate confusing, you don't need to be in the market for a mortgage or job to seek out my help. I'm here for you.
Tēna koe! ('greetings or thank you' in te Reo Maori)
Susan Templeton
personal expat adviser
Schedule a free 20-minute Zoom, WhatsAp or Facetime chat with me by completing the box below - and fire away.
NOTE New Zealand Time is UTC +13 hours, so I may not answer if you call outside 7am - 10pm NZST.