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Speaker 1: You're listening to the Weekend Collective podcast from News Talks EDB.
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Speaker 2: Just see.
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Speaker 3: You start and welcome and welcome back to the Weekend Collective. I'm Tim Beveridge and this is one Roup radio show. We will want your calls and participation on one hundred eighty ten eighty. You can text, by the way, of course, that's just part of it, but if you want to the queue. And as I'm thinking, I'm going to repeat this for a few weeks just to remind people new listeners who come in, you don't actually have to have the answer to the meaning of the life or the final answer that's going to make people go right. I've heard the answer, We've got the answer. That's this what I need to do. You just need to join the conversation with your reckons. By the way, just looking at a hit to five.
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Speaker 2: Sheridan Katona is with us for the Parents Squad to talk about we don't have a chat about parents who want to be their kid's best friend, but also extra curricular activity. And I've got an interesting story about that. Something A Wonderful Night was part of a couple of nights ago which really inspired me just about the quality of a lot of the young people we've got in our society, and it was nice to have that sort of reminder that the next generation are pretty blom and awesome. And it was around the subject of extra curricular activities. We I'll talk about that later because right now it's one roof radio show. And as I say, you can give us a call on eight hundred and eighty ten eighty and the first thing we're going to get and we're going to have a chat about, is you've heard the expression of buyers mark and the you know, there's I saw a headline saying it's a buyer's market that refuses to end. And I guess the simple question is, if this isn't the time to buy, then what are you waiting for? Are you waiting for a little bit more sagginess in the market so you can put an offer on a house, or maybe you're thinking, look, I just want another ten thousand bucks of a deposit, and I'm working my butt off to try and save that money. Because I remember there was a time when I was thinking and thinking and thinking about buying, and they didn't seem to be an enormous hurry, so I just kept on trying to build up a deposit and then keep on building. And of course as that and then the market started to take off, so my saving rate was not going to keep up with where the market was going. Luckily, I made a very smart decision and got married and we were having a baby, and we thought we'd better find a place. And that was why I bought, because I finally thought, you know, my wife was like, look, we've really got to think about buying a place, and we bought our flat. As I've told you a million times, so yes, repeating myself, that was my motivation. Otherwise I don't know when we would have We would have just gone our markets, you know, cruisy. Anyway, that's sort of the question what are you waiting for? And actually what was the motivation that made you actually go it's time to buy? Was it the need for home? Was it the need for you know, you were terrified of missing out? Because right now it doesn't seem people are terrified anyway. We like to get the best people. And on the show and here he is. He's from Harcourt's Cooper and Co. I think is the name of the company, and it's Martin Cooper name. The name on the shingle out the front, Martin, How are you great?
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Speaker 4: Yeah, I just a great celebration. Watched the Warriors win last night, so that was good. I don't know if Bill blame.
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Speaker 2: I'm not a league man, but I Panthers Panthers and we beat the Pants.
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Speaker 4: Well they were they were.
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Speaker 2: That's a good one.
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Speaker 4: They were number one.
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Speaker 2: That's a really good win.
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Speaker 4: It was a great win.
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Speaker 2: So what do you mean you.
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Speaker 4: Watched it last night out of the ground early atmosph.
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Speaker 2: What was the atmosphere like? Amazing?
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Speaker 4: It's so exciting. It's just fantastic. I had a mate with me when he didn't look like he was a supporter, so we went into the fan zone and bought the Warriors scarf for him. And the retail spending the fan base is fantastic, so it was a good event. I've got to go.
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Speaker 2: I once got invited to the league by the Mad Butcher because he used to invite people from different places, and I can't remember when I've met him a few times through the music side of things, and then it's through his zend be and he said I will arrange your ticket sort of thing, and and went and it was it was great had a great time.
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Speaker 4: That Mad Butcher. Like the amount of stuff he's done for the community and support and at charity auctions he'd always offer money to buy stuff. And at that ground there's a whole room. It's like a museum to all of the collectibles in that room.
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Speaker 2: Yeah, yeah, it's phenomenal. Hey, oh, by the way, you were at some other event. Have you been at some business You were just chatting off aboutland.
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Speaker 4: Auckland Business Hall of Fame. It's it's just such a stunning event. New Zealand entrepreneurs that are recognized for their business success in the interviewed and they tell their story. So Dame Gerald Jordane Mayo was there, great corporate Gerald, Yeah, Camilla Fisher.
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Speaker 2: You weren't getting an awards yourself.
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Speaker 4: Well, when you're sitting there, it does think I could do a bit better.
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Speaker 5: You know.
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Speaker 4: It's an aspirational environment because there's so many top achievers there. So but and they tell their story where they started their business and so it's completely uplifting and the success based here in New Zealand. It makes you proud and it's vital to have strong business to have a strong country, strong economy. So it's good. Good to see what those people can do.
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Speaker 2: Good stuff. Haven't you won any awards yourself on the real estate side of things?
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Speaker 4: Are going to we award ourselves a lot. I think real estate people, did.
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Speaker 2: You give yourself an award?
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Speaker 1: Well?
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Speaker 4: Today there's so much real estate. I won this award and that award, But the beast award of the customer satisfaction ones, aren't they When you do a good job for your customers.
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Speaker 2: Actually the best rewards that they come back on the door next time they want to sit there properly. Hey up, now, buyer's market. Look, we had we'd Brian on last week from hard Courts and we've chatting about buyer's market. And you know, there has been a while where people have thought it's a buyer's market and as if it's bad news for real estate agents. But you guys just like an active market, don't you. I mean that you just want people buying and selling. But it is seems like it's people. People are not rushing. If it's still a buyer's market, then no one's panicking at the moment, are they? What do they're not?
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Speaker 4: They're not panicking. There's there's plenty of stock. You know, if you're called stock, plenty of houses for sale, you know, the volumes. There's not a great deal of competition, but it's quite a powerful business story now to be looking if you're in a position to buy a property, to act now to get into the market. I was just looking at the data on Auckland property. Yeah, and if we go back to the boom, the peak after the COVID lockdown, the average price of a home sale in Auckland's one point three million. So over the last five years we've been going through a correction. So the average price now is just under a million. Wow, that average It is a medium, you know, so it's quite a substantial reduction. So it makes the point that I don't see them going down any further. I think the next move will be back up again. So if it's economically viable to buy now, Yeah.
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Speaker 2: The people do you think people who are thinking of buying? I mean, because the mortgage numbers are the amount of new lending, I think the mortgage numbers are down, which means not so even though the biggest participants in the market I gather are probably still first time buyers, so they are a significant chunk of it. But I think the story is that the mortgage lending's down a bit, so the activity it's it's certainly there's a bit of sag, there isn't that.
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Speaker 4: Well, I just in light of speaking to you, I just checked out the mortgage numbers, so they are up. You know, if you look at the last six months of lending New Zealanders of borriedal of people buying, forty seven zero point five billion dollars worth of mortgage has gone out and that's up about three billion on the corresponding six months for the for the previous year. And twenty percent of that market's going to the first home buyers, yeah, twenty percent to investors and the balance of just people trading up or were moving to a more suitable home. So it's it is a reasonably active market. Finance is easily available. The official cash rate's still at two point five percent, so interest rates aren't extreme, they're affordable.
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Speaker 2: Yeah. I think I was looking at the headline. There was something when it came out from Caatality, which was say mortgage They say mortgage lending has lost significant momentum with growth. Okay, growth is dipping near zero. So well, yeah, so in other words, it would have been a time what would have been growing because a lot of you know, the first time buyers, they are the ones who are borrowing the most. I guess aren't they Actually, I just made an assumption there. I'm not sure if that'll be wrong.
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Speaker 4: No, that's the fuel. It's like the energy in the market, the first time buyers, and they compete with the investors because they're a lower price point. So when the first home buyers are active in buying and the investors are active and buying, that allows people to sell their first home and trade up to their second one. And it's sort of like the firewood that keeps the property market going.
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Speaker 2: So the you know that when there isn't the panic to buy, and we'll go to a cause in just a moment. By the way, I one hundred and eighty ten eighty. I've just got someone holding there, just to let you know. Rob will be with you know tech, what do you remember the impetus you when you first bought your first house, Because I think that's probably the hardest, the biggest decision where there's the most inertia is that first purchase because once you've done it once, it's like Oh wow, it feels maybe not so mysterious to do it again. Do you remember what your motivation was to finally go right? I mean you were probably sixteen, I guess.
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Speaker 4: I was twenty two when I bought my first house, and I had a home ownership account that I'd been saving my money in the government. But like the Keipi saver, they gave you a bit of money if you had a home ownership account way back last century. And I just I couldn't figure out if I could buy house instead of renting one, I might as well get in a purchase.
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Speaker 2: Was it a casual decision that you just sort of thought I could pay rent or oh maybe I should buy something.
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Speaker 4: I just had a burning focus. I had a property ownership. I just thought it was a normal way to go. But hey, look I've got friends. I've got one friend who rents a beautiful waterfront property and he has commercial investments, so he gets the money off his investment properties to pay rent. He doesn't actually own a property, and he scoffs at me. He says, oh, see those lawns. I didn't have to know those because the landlard takes care of it. He doesn't have to pay any rates or insurance or maintenance, but just rent. He's still going to pay the rent.
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Speaker 2: You make it sound like he's not paying any insurance, he's not paying any of this. I'm like, I'd like to know what the rent figure is. It's probably not you know, he's probably not paying four or five but eight bucks a week.
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Speaker 4: No, it's a bit more than that. But you know, the interesting thing is the talk about your readers store. It's a buyer's market. Well, it's only for all of you out there. It's only a buyer's market if you buy, because the thing is always.
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Speaker 2: Hadded, prepared earlier. It sounds like, it sounds like it makes sense, but what does it mean.
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Speaker 4: Well, it simply means that people say, oh, it's a buyer's market, and you know, it's a good time. But if you don't take.
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Speaker 2: Action, it's an it's a non part.
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Speaker 4: Market if you if you participate, So it's.
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Speaker 2: A non participants market for non participants if you're not participating. But we could chase them.
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Speaker 4: Well, how many times in life have you said you're with friends saying oh, I was going to do that, I was going to buy that share, I was going to buy one of those and you know the gun the things we were going to do and we didn't do. So at the moment, it is a good time to get into the market because we've got good supply of stock, reasonably low cost interest rates compared to recent history, and if you can afford it, you should be getting out and getting amongst it. And the big thing is you never know when the bottom is. Because I thought the bottom was about two years ago.
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Speaker 2: You know, Well that's that's the that's the trap, because it's gone lower since then. And does that feed people who are thinking, oh, you know it's.
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Speaker 4: Still well, that's the thing. You hold back and think, oh, it's going to go lower, and it doesn't, and it takes off. And by the time it takes off, you have missed the opportunity, you know what I mean.
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Speaker 2: I don't know how many people. I mean, obviously some people do have the fortune to buy at the bottom, but they didn't know when they did it. They just looked back and I bought at the bottom.
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Speaker 4: Yeah, So that then they expressed what a genius they were. If they're good frenzyers and they like to banter with you. But there's the other person in life that says, I've never ever bought a property at the right time. You know, I'm selling when it's an all time low, and I seem to buy when it's an all time high. So but if you if you're of a long time, it doesn't matter that much over ten years.
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Speaker 2: Right, we'd love to hear from you, because there is such a thing as inertia, when you know, people just sort of think. And as I described my own inertia, that it took me forever until I just had to buy something. But what was the what was the motivation that made you think, right, Okay, the market's a bit soft, I should buy, I should buy, I'm saving, I'm gonna buy. What was it that actually got you to There's some very crude expressions around finally getting in there, which you won't use. But what made you finally go right, I'm going to do it, and you did it? One hunden eighty twenty past four. Let's go to Rob.
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Speaker 6: Gooday, Hi, I'll make sure on the contrast of what your previous.
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Speaker 2: Say. That's Martin. He's my guest for the whole hour. Oh yeah, he's not just my previous.
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Speaker 6: I thought he was very Yeah, he had a lot of expertise.
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Speaker 2: Oh he is. He's here because he's Martin Cooper from Harcourts, Cooper and co.
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Speaker 6: Oh yeah yeah, yeah, yeah, well yeah, I'm just saying we had to buy a house, me and my ex, my ex wife, young kids, and we were pretty much kicked out of our well, the property that we're renting. Yeah, his marriage he divorced. His marriage got a divorce, and he pretty much lasked we had forty two days.
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Speaker 2: The landlord was getting divorced, and so he gave you notice to move out, and you were like, what do we do?
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Speaker 6: Yeah, yeah, it was really he just came and taught us in person. But we were like, oh no, I was. But then it was key we Save, which saved her back sidse.
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Speaker 2: Okay, so that was when you the policy that you can withdraw your he we saver for a deposit faerhouse.
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Speaker 6: Yeah yeah, yeah, so and yeah, so we had I know, sixty grand yeah between us and I was about twenty almost thirty.
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Speaker 2: Actually, I think how many years ago is this right?
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Speaker 6: Twenty eighteen? So I was twenty nine.
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Speaker 2: Oh it's not that long. That's only a handful of years ago.
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Speaker 6: Eight years and you had a brand new baby as well, and my father, my dad, my mum and dad paid off our credit cards. So we're lucky, lucky.
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Speaker 2: Do you consider yourself lucky that you got given to bay your landlord, because otherwise you would have just continued to rent. Yeah.
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Speaker 6: Yeah, it was kind of like the ambetuss to buy because we never even thought about it because we thought it was never going to happen.
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Speaker 4: Isn't it amazing? Like there's always a silver lining rob like that poor couple divorced, the relationship didn't work out and they move into the house. That triggers you to buy your own place, and that now you've got a place for the rent as long as you want and you're in control of it. It's fantastic.
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Speaker 6: Yeah, I've still got it now and it's gone up where we paid four hundred thousand for it in twenty eighteen, that's worth like six hundred now.
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Speaker 2: You're what's tali on.
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Speaker 6: Hasting?
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Speaker 4: Yeah, that's fantastic. And every money, every bit of money you pay into that, it's to pay off. If you've still got a mortgage, you're paying off the debt ands just just paying the rent.
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Speaker 6: I would tell people, I would tell people in their twenties just just try and buy one. Otherwise you're just going to be paying rents for ever.
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Speaker 2: Yeah, we'll got on your Rob. Actually, I think there'd be quite a few people who think you, I really appreciate your call. That'd be quite a common story in a way that events force the decision rather than because I think you know, when our lives we get used to you just get used to the status quo. And you know, buying a house is a big change to your status quo, isn't it. Yeah.
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Speaker 4: There's a lot of triggers in life, and fascinating even in older life, milestone moments you know, you're having a baby, it's time to change your lifestyle and get a home and provide a place to bring up your children, or all of these things that trigger you into action. But that was a good one for Rob. Someone divorces wants their house back and he thinks, hell and good on Rob having the key we saver and his wife.
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Speaker 2: Yeah, because there's been a lot of people, I mean, there has been a lot of discussion and there are some people, especially economists in particular, who are opposed to people withdrawing their savings because you know, it's we should be prioritizing retirement savings and all that sort of thing. But if you if you're not able to draw them for a house, you know, try paying for a retirement. Try paying your rent while you're in retirement.
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Speaker 4: Yeah, I think, Okay, some people make a mistake. And this is my older person's advice, is you're cashing your key WE saver to buy the house and you think, oh god, I've got a mortgage now, and you stop paying at your KEYI saver, you know, because you're stretched, and then all your money and your vestments in your house. But if you can keep that keep we saver going just a small amount over all the years ahead, your house theoretically should go up on value, so and you pay that off over time, but you still keep your saving going, even though you take a big hit because you take all your money out to put into the deposit for the house. As long as you keep going with the savings, it's incredible because when you get older, the accumulative totally. It may because you were lucky, you've got a bit of a runway. But i'd love to are you are you maxing out paying into your KEYWI saver as a broadcaster to the nation. Are you being a role model?
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Speaker 2: No, I'm not. I'm self employed.
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Speaker 4: I'm very You've still got to pay into it.
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Speaker 2: Luckily, funny enough, I only had that. I'm not sure I want to give away too much, but I had. I had a conversation with a wife we've nearby talked about because she puts aside money and she'd recently up to her contributions. And I suddenly thought, you're doing enough.
00:19:36
Speaker 4: I could be a sales rep for Kiwi Saver. It is the best thing. And you your runway. You're still a young man. It's not too late. And Colonel Sanders start a McDonald's when he was fifty five. Yeah, so for you, you can still have a great reshirement.
00:19:53
Speaker 2: I should open a bakery or something. I've always wanted to do that. Funny enough, I always wanted to do that.
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Speaker 4: Yeah, and a breakery.
00:20:04
Speaker 2: Actually he's here, he's actually here with us. Is we've got a helper in the studio, his grandson. Because it's going to say that's not just a dad joke, that's a granddad joke.
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Speaker 4: Well, I tell you what I was weird a bakery for sale. We've got a business broker and bad accident there. Last week electrician came round, the power was out and unfortunately he got electrocuted on the site. Wasn't good?
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Speaker 2: Oh my god, Yeah, it's terrible. I thought you were starting to tell me a bad joke.
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Speaker 4: No, no, no, no, it's terrible. He's stood on a current. Bun Oh.
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Speaker 2: God, okay, put us out of our misery. What was you know? It's a it's a soft market. There's not the urgency that there has been. So what is motivating and what did motivate your decision to get into property, Because briefly, I would just say, succumbing to the status choir of your life is the reason people never do anything. So what was it that made you decide I've got to change something I eight hundred eighty ten eighty text nine two ninety two. Well avoid the dad jokes. Martin has permission to tell a few, but not you. If you call it an I eight hundred eighty and eight, that would be a dangerous move, wouldn't it? For the for the property?
00:21:09
Speaker 4: An hour of day.
00:21:10
Speaker 2: No, we're not doing that. That's we'd be back in just a moment. It's twenty seven past four. News Talks HEB News Talks hid B. I'm Tim Bevers. This is the one who've radio shown with Martin Cooper from Harpacurtz, Cooper and co. What was you know? It's it. It seems like a good time to buy, but people are not so energized in terms of urgency. What motivated you to finally make your decision to get into the market or to buy your second or third or whatever. I W eight hundred eighty ten I eight one hundred eighty ten eight tarmity.
00:21:40
Speaker 7: Good A Hey, how's it going, gentlemen?
00:21:42
Speaker 2: Good?
00:21:43
Speaker 7: Good, good god. I'm actually that person who's actually staw something on the fence of looking to buy as a first home buyer. What I've been doing is, I've actually been watching the Reserve Bank over the past three years, and I'm always thinking, because I have saved a certain essential amount, I'm thinking because of there is how the OS hasn't going down lately, interesting things are doing that I've been thinking. I'll watch it until it goes down and downs lowers you can go, and then when it starts to hike, then I will jump.
00:22:11
Speaker 2: Okay, well, sounds like you must be Have you been looking at houses?
00:22:16
Speaker 7: Yes?
00:22:16
Speaker 2: I have.
00:22:17
Speaker 7: I have a friend who works in real estate. I've actually been sending him a number of bunch of listings over the past six months, and he gives me his honest opinions about them, or he'll tell me it may be in price range, maybe not things like that. But going forward, I've decided to make the effort and reach out to a broker over the next couple of months, now that I know there's been speculation of the OCR hiking up next month.
00:22:39
Speaker 2: Oh okay, now you don't have to tell us the amount, but do you roughly how much of how much equity are you going to be putting down and a deposit in terms of relating to the spand are you going to have twenty fifteen?
00:22:52
Speaker 7: Probably the fifteen to twenty because I did get a little examined verbal approval from our own banking specialist last year, and then as I was looking at the open homes that were outside of the range, I thought, I'll saved us a little bit more and up to the savings and this time reach up to a broker instead of my own banking specialists. Okay, brokers can always bug in and tell me what this offer offer.
00:23:14
Speaker 2: I'm guessing you've also called because you're waiting for Martin to give you the inspiration and the encouragement for some more momentum. So Martin, let's go, Martin, what do you reckon? Message for Tammody?
00:23:25
Speaker 4: Tummody, it's time to dive in, to go for it. You're all set up, you've got your deposit, and you've got to get out and get shopping and get into a property because, yeah, things, things might go along. We've got an election coming, so that always with an election is uncertainty. The politicians are saying everything's terrible because they're all criticizing each other. But after the election, I think we've been waiting for a long time for the market to wake up and get a bit more energy about it. And the thing is, once it gets momentum and gets energy and everyone feels positive, then you've got more competition. The prices do lift and you have to pay a bit more. So your timing is perfect now and I would get busy and get shopping and you're looking at buying a place for the next ten years. You've got the money, it's affordable. Are you paying rent at the moment?
00:24:20
Speaker 7: Just look like a board. I'm still looking at home with family, but they have been helping me save during this journey as well.
00:24:26
Speaker 2: Yeah, that's excellent because you It was interesting from my point of view listening to you, and you used the word months quite a few times. You know, you've been doing such and such for six months. You're going to talk to broken the next couple of months, and I would just my guess is, I don't know if Martin has an observation on this, but that still sounds like you're you're stretching it out a bit. But do you do you want some more encouragement from us?
00:24:54
Speaker 7: Not exactly, because this is like stepping points. And also because I had a friend I telling you about. He was telling me he's he's list of the place, and he's been giving me up the motivation to reach up to the broker and has already given me a couple of lists of brokers to reach up to already.
00:25:08
Speaker 2: Yeah, I see. My take would be, and it's not specific advice, of course, but I think the most powerful tool you can do for the next step is to get that approval and know exactly what you can spend. Because you haven't got that yet. That would be sounds like you should.
00:25:22
Speaker 7: Just examine ideally last year. But I've saved more in the past ten months since that discussion last year.
00:25:26
Speaker 2: Awesome, man, Look what do you reckon? I mean my advice is first, get that mortgage of approval. Just get that under your belt. When you say Martin, yeah.
00:25:34
Speaker 4: Talk to talk to a broker and say, here's my finances. See the maximum that you can purchase, and you can get in find a property, you can go into the fixed interest. You know, there's five year rates of just over five percent, so you can. You can know the future, you know how much. So, but it is a matter of starting. You should be thinking in days, minutes, hours, not months.
00:26:01
Speaker 2: Mate. There'll be a lot of people like you, and I think that I'm really appreciate you can. It's a call to share that.
00:26:06
Speaker 7: Yes, and and I've even given a hard time already buy close friends and college at work already.
00:26:11
Speaker 2: Well, I think that the easy thing is getting that approval in terms of it's an easy decision to make, to just get cracking with that, and then all of a sudden your momentums away. Wouldn't you say, yeah, good on you mate, thanks for sharing that, and hey, let us know if you if you if Tarmody calls up, let us know if you when you're buy, we'll start the clock.
00:26:30
Speaker 4: We'll celebrate.
00:26:33
Speaker 2: All of this. So yeah, I mean that's a very common sort of story, isn't it. You know I'm doing this and I just heard the word months a few too many times and I thought, he is. There's a little bit.
00:26:45
Speaker 4: Of well I do it around fitness and how many people are out there. The things we're going to do about going on a diet and starting exercise, Well you apply that to your business life, the same thing I'm going I'm going to get buy a house. And hey, Tarmody, if you're still listening, if you wait, we could be in six months time after the election where you think I should it that I got into it quicker because if everyone comes back in then there's more competition. You've got to pay a high price and so and.
00:27:13
Speaker 2: At the moment, he doesn't have to panic, he's just got to make some few simple decisions. It cracking.
00:27:17
Speaker 4: Yeah, just set a goal, set a deadline. And if you're living with family, have a talk to them. They probably love you, but they'd like you to be a visitor, not a permanent resident.
00:27:27
Speaker 2: Anyway, great call, Tommity, thanks for sharing that with us. Daniel High, Yeah, how are you good? Good?
00:27:35
Speaker 5: I want to throw a spender in the works here for you boys to think about.
00:27:39
Speaker 7: Okay, twenty years.
00:27:42
Speaker 5: Ago, I came in, I was made redundant, and I took my money and people said, oh, well, it's time not to look for a job and start looking for another job and look for buying a house, and I said, Noah. Took some advice from a couple of you know, from the business people that I was dealing with, and they said, invest in businesses, Like I said, okay, kind of long story short. I invested in multiple businesses and still do. We're in the process now building our dream home cash free as a result of dividends and shiholded dividends and so forth over the vast sort of ten fifteen years, I suppose. And I've still got investments in three businesses and one of them makes you work and grab a good salary. So and the people that were telling me to buy a house back in the day, that's still paying their twenty five thirty year mortgages. No, they haven't moved forward, you know what I mean.
00:28:51
Speaker 2: I don't think it's a spander. I don't think it's a spanier in the works, Daniel. I think so you've just invested your money in a different way. I'll hand over to Martin and you guys can have a banter.
00:29:00
Speaker 4: Yeah, good on you, Daniel. And it's just not everyone's cup of tea to be that's small. Property is a safer bet because you get to live in it, you see it, you touch it, and you know it's yours. Whereas a business, not everybody's as enthusiastical or entrepreneurial as you've been to get into a business. But hey, I think as long as you're making steps to create wealth to look after yourself and your family, you can do it through property, and you can certainly do it through business. So good on you. And look at the outcome. You've used your money wisely and now it's delivering for you and your family, so good on you.
00:29:39
Speaker 5: Advice that you the same advice that you give it to Brocus, you should also give the same advice to people to talk to business focus and tell them what are the options because there's lots of there's lots of startup businesses out there, guys that are looking for small investors. And it doesn't take a hello, a lot of time as long as you do your due diligence. You just grow from there and monitor it and do you know what I mean.
00:30:03
Speaker 2: Us, Yeah, that's good on you. And as I said, I don't think that's a spanner on the works. It's just a different degree of difficulty at which some people are either comfortable or not. And Daniel has obviously got that appetite from maybe a bit more risk perhaps.
00:30:15
Speaker 4: Yeah, yeah, good on Daniel, and building a luxury home with your own efforts fully commend it just a pathway to getting your own place.
00:30:25
Speaker 2: Yeah, good call mate, because ultimately he's getting his own place now, so it's still ending up with the same sort of punchline. It's differently getting in it is.
00:30:37
Speaker 8: Well.
00:30:37
Speaker 2: Funnily enough, I can slightly counter that because we bought our first home fifteen years ago when he bought into property, and we've just about we're not far from paying off our mortgage. So getting in at the right time and also investing in your own house can work out quite well from that point of view as well. Although I imagine he's got a bit more income on he still generating, but have income out of his investments.
00:30:58
Speaker 4: But if you focus in on paying down the debt on your property, you know, you go to fort, you talk to a broker or talk to how do I get through this quickly? More quickly? And you know, if the interest rates duck down, you just keep the payments the same because and more's going to principle.
00:31:13
Speaker 2: Yeah, right, Well, we'll be back in a moment. Just to quick break, it's twenty to five News Talk ZEDB News Talk z B eight hundred eighty ten eighty. What was the motivation for you to get into the market. We're talking about that given us a buyer market, there's a bit of slack activity in there. So yeah, Renee, Hello.
00:31:31
Speaker 8: Yeah, evening, How are we guys?
00:31:33
Speaker 2: Good and good? A? Is it Renee or Renee?
00:31:36
Speaker 8: Renee?
00:31:37
Speaker 2: Okay? You're with You're with Martin? Would you like to say all right?
00:31:42
Speaker 8: Sorry, I wanted to listen to the last couple of callers. I've just tuned in. I'm a year out of a relationship. She's brought me out of the house, and I've had money and all that. I'm fifty, so I've got about seventy to eighty K to play with. I'm just wondering with my age, is that enough of a deposit for me to get my own place? And yeah, yeah.
00:32:10
Speaker 4: Well well that is a small amount of deposit, but it depends what market, what part of the country, because they're all different markets. Auckland, christ Church, Wellington.
00:32:22
Speaker 8: Christ I'm in christ Church and I'm looking at us. I'm wanting to get a house on a not a big set of land, and I don't just a three bedroom house so I've got my kids and it's just to see in the weekends and that sort of stuff. And it's basically I don't want to rent because I feel that if I rent, I'm never going to get my own place. And my goal is to get my own place. At the moment, I'm living in a cabin on my mother's front lawn, so I can. So I've got no bills, so I can. I'm looking at hopefully in a year's time to build up on that money. I've got to have a decent I've worked out that I should have about one hundred and twenty odd K to play with within a year's time to get for a house.
00:33:05
Speaker 2: So that's one hundred and twenty on a medium price, and christ it's what's seven eight hundred thousand dollars.
00:33:10
Speaker 8: Yeah, I've been keeping a night Yeah, six hundred, roughly between six and seven for what I'm looking at. I'm not looking at anything flash, just basically a three bedroom something that's tidy. But yeah, looking I think around the five to seven hundred range. I've been looking on training and just keeping my eyes open and seeing what's out there for what I know the prices are going to go up in a year's time. But I was just thinking and just a bit of advice for my age and stuff like that. What a bank look at me?
00:33:40
Speaker 4: Yeah they will. You're fifty, You've still got a good span ahead of time to work, get an income, pay down the mortgage.
00:33:48
Speaker 8: So I've work two jobs as well, So I've got a Monday to Friday job and I'll reach on the weekends. So I'm seven days a week the only days I'll get off of the stats.
00:33:56
Speaker 4: Yeah, good on you. You're making a good journey to bounce back and get your own property. So what you need to do you have a banker or a mortgage broker or anybody.
00:34:10
Speaker 8: That haven't even looked at it.
00:34:12
Speaker 4: Okay, So just what I'd recommend is you just go on and interview a few people and they'll give you the advice you can just brokers. Yeah, my mortgage broker is a good person. Just they're they're all certified, so and just ringing them and asking for advice and just say, right, this is my current income, this is my age, this is my deposit now, and they will do an assessment on you and so you can go out and buy a house right today. It might be for four hundred and eighty thousand. You know, they'll say based on your income, what you can pay back and what your deposit is. They'll give you the target and they'll also give you the pathway to say the houses you want to buy currently about five point fifty you know, to have a nice three bedroom so the kid's family can stay. So that's your target. And then they say you will need to get your income up a little bit, You'll need to get your deposit up a little bit, and you know what you're aiming for. That'll be your first step, get see what your targeted.
00:35:07
Speaker 8: Any mortgage brokers.
00:35:08
Speaker 4: Anybody, just if you like the look of them, you out and talk to them. You sound they sound like that, you trust them.
00:35:13
Speaker 2: Just just tell around. Yeah, just get on, just just talk to people.
00:35:20
Speaker 8: I've been out of the game for a long time. Is there a charge for that.
00:35:22
Speaker 4: No, it's free service. Yeah. Just they'll they'll they'll make their money from the bank when you loan the money off them. But to get you as a client, to win you as a client, they'll give you that. That's free advice. And their fee only comes when you transact and the bank pays their fee, so it's you do indirectly. But it's not an add on cost to you. It's a free service.
00:35:43
Speaker 8: Okay. So if I give them a buzz this week, come in and to say, look, I'm looking in a year's time, but this is what I'm looking at. They'll still help me and all that.
00:35:50
Speaker 4: Absolutely.
00:35:51
Speaker 2: Just they want your business. Yeah, they'd love to. They want to help you. And from the mortgage brokers we've had on this show, they want to help you, mate, So get in there.
00:36:00
Speaker 7: Yeah.
00:36:00
Speaker 4: And hey, but also, just are you outdating again?
00:36:05
Speaker 8: No?
00:36:06
Speaker 4: No, no, we don't rush into it because you're just recharging. But make sure you just interview wealthy women that will help the cause going forward.
00:36:17
Speaker 8: That would be a bonus.
00:36:19
Speaker 2: It would be best wish, is right? All the best for that, but we'll come back with more calls in just a moment. It's twelve minutes to five. Yes, news talks. It'll be Tim Beverage with Martin Cooper from Hardcourts, Cooper and Co. But you know, getting getting committed and taking a step to buying your house some great cause there, thanks for the people are called so far lucky last Miriam.
00:36:40
Speaker 9: Hello here you going good?
00:36:43
Speaker 4: Thanks good, Thanks.
00:36:47
Speaker 9: So I've just brought a half brior years ago, Sarah yourself well the house, but I was Bush that wants to self there and then I went cooking and I've paid my face fan first three months and it was always the help of course of can we save us.
00:37:21
Speaker 4: Yeah, it's a good story, merriam. And you're enjoying the new houses your own place again, Yeah.
00:37:27
Speaker 9: Definitely a lot warmer than the rentals that we're in and a lot easier for up.
00:37:35
Speaker 4: Great, well, good on you.
00:37:36
Speaker 9: And cut a lot more on the old property every report night.
00:37:40
Speaker 4: But yes, that's the joy of owning well, plus the key we saver paid off and hey we've just got to do property of the property of the week, merriam. And if you have a look at this one, we might have your next home.
00:37:56
Speaker 2: Hey, thanks for your call, Mariam. Sorry, we do have to knock it on the head there because it is time.
00:38:00
Speaker 1: For the one roof property of the week on the Weekend Collective and the.
00:38:07
Speaker 2: One root property of the week. Look at it. It's in that sort of ballpark of being the one that you you'd love to love to get it if you won the lotto possibly although anyway, it's Queenstown Lakes Clothes burn in Queenstown Lakes At The address is nineteen Bayswater Lane, and I got to say it's it's a property that is after my own heart because it's I do love Queenstown. But it's beautifully designed, it's got this. It's in an exclusive enclave above Wilson Bay and it's described as an exceptional residence with breathtaking views across lake across Lake Walker, Tippoo the surrounding mountains, minutes from Queenstown. And I've got to say it really is quite something if you and I always say, even if you can't afford this sort of stuff, it's like having a holiday. You go on and have a look, you look at look at a few ideas. What do you Martin, what do you what do you think of the property?
00:38:59
Speaker 4: Well, that the view is the hero of this property. It's just stunning. And if you you know, it'll be a higher price point. The reserve the sort of the rateable value three three point six miles, so it'd be somewhere around or over that.
00:39:14
Speaker 2: But probably over that given its Queenstown.
00:39:17
Speaker 4: Yeah possibly, But didn't you say in this whole price a buyer's market.
00:39:22
Speaker 2: I don't know if it's a bass market in Queenstown, but.
00:39:25
Speaker 4: No, Queenstown's running hot. That's got the foreign buyers, overseas buyers able to purchase now, so they're really it's its own climate in Queenstown. But hey, that this property's got the privacy and isolation of having that you're still close to the city. Real livable home, spectacular and you get online in one roof and have a look and aspirational type property this one. It could be a holiday house, could be move the family down to Queenstown and just you probably wouldn't want to go to work that much looking at those windows at that view though, were.
00:39:59
Speaker 2: You don't really want to go to work a lot in Queenstown anyway with the traffic apparently, but you know, you could have a lovely time of you're stuck at home.
00:40:06
Speaker 4: Yeah we're from home. It'd be perfect.
00:40:09
Speaker 2: Anyway, go and check it out. The address again is nineteen Bayswater Lane in Queenstown, and look, it's it's worth it just to have a look at a great property. And funny enough, the thing that attracts me as a secondary look, I just love the look of the back out and I don't know what it is. It's just maybe it's just the beautiful blue scarf and a targo sort of day and they've got a bit of a barbecue at the back and a nice.
00:40:33
Speaker 4: S gardening fetish that you know, you just know.
00:40:36
Speaker 2: I like the idea of the outdoor hosting, you know, just getting people around sitting outside, yeah freezing.
00:40:43
Speaker 4: Oh hey, put an outdoor fire put in here. You've got a lot of things you could do outdoor entertainment.
00:40:49
Speaker 2: It doesn't look like it's got a spar pool there that they haven't featured there just around the corner. Oh there it is, yeah, sparpool as well. Oh god, have a look at it. Nineteen Bayswater in Queenstown, Martin. Great to have you, and I know I think you've You've done a couple of our calls a real over. There will be interesting to see where they go in their journey in the next few months.
00:41:07
Speaker 4: Oh yeah, it's time to take action, get it and do it. Cheers, thank you.
00:41:12
Speaker 2: Okay, we'll be back with the Parents Squad. Sheridan Katona is with us from the parenting Place, talking about the value of extra curricular activities, among other things we're going to touch on with Sheridan and I mean, how much is too much? But also parents who want to be best friends with their kids. I suspect she's going to tell us that's a mistake, but we'll find out. This is News talksb OH eight hundred and eighty ten. Ay with the Parent Squad is next.
00:41:38
Speaker 1: For more from the weekend collective, listen live to News Talks EDB weekends from three pm, or follow the podcast on iHeartRadio.
Speaker 1: You're listening to the Weekend Collective podcast from News Talks EDB.
00:00:19
Speaker 2: Just see.
00:00:41
Speaker 3: You start and welcome and welcome back to the Weekend Collective. I'm Tim Beveridge and this is one Roup radio show. We will want your calls and participation on one hundred eighty ten eighty. You can text, by the way, of course, that's just part of it, but if you want to the queue. And as I'm thinking, I'm going to repeat this for a few weeks just to remind people new listeners who come in, you don't actually have to have the answer to the meaning of the life or the final answer that's going to make people go right. I've heard the answer, We've got the answer. That's this what I need to do. You just need to join the conversation with your reckons. By the way, just looking at a hit to five.
00:01:24
Speaker 2: Sheridan Katona is with us for the Parents Squad to talk about we don't have a chat about parents who want to be their kid's best friend, but also extra curricular activity. And I've got an interesting story about that. Something A Wonderful Night was part of a couple of nights ago which really inspired me just about the quality of a lot of the young people we've got in our society, and it was nice to have that sort of reminder that the next generation are pretty blom and awesome. And it was around the subject of extra curricular activities. We I'll talk about that later because right now it's one roof radio show. And as I say, you can give us a call on eight hundred and eighty ten eighty and the first thing we're going to get and we're going to have a chat about, is you've heard the expression of buyers mark and the you know, there's I saw a headline saying it's a buyer's market that refuses to end. And I guess the simple question is, if this isn't the time to buy, then what are you waiting for? Are you waiting for a little bit more sagginess in the market so you can put an offer on a house, or maybe you're thinking, look, I just want another ten thousand bucks of a deposit, and I'm working my butt off to try and save that money. Because I remember there was a time when I was thinking and thinking and thinking about buying, and they didn't seem to be an enormous hurry, so I just kept on trying to build up a deposit and then keep on building. And of course as that and then the market started to take off, so my saving rate was not going to keep up with where the market was going. Luckily, I made a very smart decision and got married and we were having a baby, and we thought we'd better find a place. And that was why I bought, because I finally thought, you know, my wife was like, look, we've really got to think about buying a place, and we bought our flat. As I've told you a million times, so yes, repeating myself, that was my motivation. Otherwise I don't know when we would have We would have just gone our markets, you know, cruisy. Anyway, that's sort of the question what are you waiting for? And actually what was the motivation that made you actually go it's time to buy? Was it the need for home? Was it the need for you know, you were terrified of missing out? Because right now it doesn't seem people are terrified anyway. We like to get the best people. And on the show and here he is. He's from Harcourt's Cooper and Co. I think is the name of the company, and it's Martin Cooper name. The name on the shingle out the front, Martin, How are you great?
00:03:43
Speaker 4: Yeah, I just a great celebration. Watched the Warriors win last night, so that was good. I don't know if Bill blame.
00:03:52
Speaker 2: I'm not a league man, but I Panthers Panthers and we beat the Pants.
00:03:55
Speaker 4: Well they were they were.
00:03:57
Speaker 2: That's a good one.
00:03:57
Speaker 4: They were number one.
00:03:58
Speaker 2: That's a really good win.
00:03:59
Speaker 4: It was a great win.
00:04:01
Speaker 2: So what do you mean you.
00:04:01
Speaker 4: Watched it last night out of the ground early atmosph.
00:04:05
Speaker 2: What was the atmosphere like? Amazing?
00:04:06
Speaker 4: It's so exciting. It's just fantastic. I had a mate with me when he didn't look like he was a supporter, so we went into the fan zone and bought the Warriors scarf for him. And the retail spending the fan base is fantastic, so it was a good event. I've got to go.
00:04:25
Speaker 2: I once got invited to the league by the Mad Butcher because he used to invite people from different places, and I can't remember when I've met him a few times through the music side of things, and then it's through his zend be and he said I will arrange your ticket sort of thing, and and went and it was it was great had a great time.
00:04:40
Speaker 4: That Mad Butcher. Like the amount of stuff he's done for the community and support and at charity auctions he'd always offer money to buy stuff. And at that ground there's a whole room. It's like a museum to all of the collectibles in that room.
00:04:55
Speaker 2: Yeah, yeah, it's phenomenal. Hey, oh, by the way, you were at some other event. Have you been at some business You were just chatting off aboutland.
00:05:06
Speaker 4: Auckland Business Hall of Fame. It's it's just such a stunning event. New Zealand entrepreneurs that are recognized for their business success in the interviewed and they tell their story. So Dame Gerald Jordane Mayo was there, great corporate Gerald, Yeah, Camilla Fisher.
00:05:27
Speaker 2: You weren't getting an awards yourself.
00:05:30
Speaker 4: Well, when you're sitting there, it does think I could do a bit better.
00:05:33
Speaker 5: You know.
00:05:34
Speaker 4: It's an aspirational environment because there's so many top achievers there. So but and they tell their story where they started their business and so it's completely uplifting and the success based here in New Zealand. It makes you proud and it's vital to have strong business to have a strong country, strong economy. So it's good. Good to see what those people can do.
00:05:59
Speaker 2: Good stuff. Haven't you won any awards yourself on the real estate side of things?
00:06:04
Speaker 4: Are going to we award ourselves a lot. I think real estate people, did.
00:06:09
Speaker 2: You give yourself an award?
00:06:10
Speaker 1: Well?
00:06:11
Speaker 4: Today there's so much real estate. I won this award and that award, But the beast award of the customer satisfaction ones, aren't they When you do a good job for your customers.
00:06:21
Speaker 2: Actually the best rewards that they come back on the door next time they want to sit there properly. Hey up, now, buyer's market. Look, we had we'd Brian on last week from hard Courts and we've chatting about buyer's market. And you know, there has been a while where people have thought it's a buyer's market and as if it's bad news for real estate agents. But you guys just like an active market, don't you. I mean that you just want people buying and selling. But it is seems like it's people. People are not rushing. If it's still a buyer's market, then no one's panicking at the moment, are they? What do they're not?
00:06:55
Speaker 4: They're not panicking. There's there's plenty of stock. You know, if you're called stock, plenty of houses for sale, you know, the volumes. There's not a great deal of competition, but it's quite a powerful business story now to be looking if you're in a position to buy a property, to act now to get into the market. I was just looking at the data on Auckland property. Yeah, and if we go back to the boom, the peak after the COVID lockdown, the average price of a home sale in Auckland's one point three million. So over the last five years we've been going through a correction. So the average price now is just under a million. Wow, that average It is a medium, you know, so it's quite a substantial reduction. So it makes the point that I don't see them going down any further. I think the next move will be back up again. So if it's economically viable to buy now, Yeah.
00:07:47
Speaker 2: The people do you think people who are thinking of buying? I mean, because the mortgage numbers are the amount of new lending, I think the mortgage numbers are down, which means not so even though the biggest participants in the market I gather are probably still first time buyers, so they are a significant chunk of it. But I think the story is that the mortgage lending's down a bit, so the activity it's it's certainly there's a bit of sag, there isn't that.
00:08:12
Speaker 4: Well, I just in light of speaking to you, I just checked out the mortgage numbers, so they are up. You know, if you look at the last six months of lending New Zealanders of borriedal of people buying, forty seven zero point five billion dollars worth of mortgage has gone out and that's up about three billion on the corresponding six months for the for the previous year. And twenty percent of that market's going to the first home buyers, yeah, twenty percent to investors and the balance of just people trading up or were moving to a more suitable home. So it's it is a reasonably active market. Finance is easily available. The official cash rate's still at two point five percent, so interest rates aren't extreme, they're affordable.
00:09:00
Speaker 2: Yeah. I think I was looking at the headline. There was something when it came out from Caatality, which was say mortgage They say mortgage lending has lost significant momentum with growth. Okay, growth is dipping near zero. So well, yeah, so in other words, it would have been a time what would have been growing because a lot of you know, the first time buyers, they are the ones who are borrowing the most. I guess aren't they Actually, I just made an assumption there. I'm not sure if that'll be wrong.
00:09:25
Speaker 4: No, that's the fuel. It's like the energy in the market, the first time buyers, and they compete with the investors because they're a lower price point. So when the first home buyers are active in buying and the investors are active and buying, that allows people to sell their first home and trade up to their second one. And it's sort of like the firewood that keeps the property market going.
00:09:49
Speaker 2: So the you know that when there isn't the panic to buy, and we'll go to a cause in just a moment. By the way, I one hundred and eighty ten eighty. I've just got someone holding there, just to let you know. Rob will be with you know tech, what do you remember the impetus you when you first bought your first house, Because I think that's probably the hardest, the biggest decision where there's the most inertia is that first purchase because once you've done it once, it's like Oh wow, it feels maybe not so mysterious to do it again. Do you remember what your motivation was to finally go right? I mean you were probably sixteen, I guess.
00:10:25
Speaker 4: I was twenty two when I bought my first house, and I had a home ownership account that I'd been saving my money in the government. But like the Keipi saver, they gave you a bit of money if you had a home ownership account way back last century. And I just I couldn't figure out if I could buy house instead of renting one, I might as well get in a purchase.
00:10:45
Speaker 2: Was it a casual decision that you just sort of thought I could pay rent or oh maybe I should buy something.
00:10:50
Speaker 4: I just had a burning focus. I had a property ownership. I just thought it was a normal way to go. But hey, look I've got friends. I've got one friend who rents a beautiful waterfront property and he has commercial investments, so he gets the money off his investment properties to pay rent. He doesn't actually own a property, and he scoffs at me. He says, oh, see those lawns. I didn't have to know those because the landlard takes care of it. He doesn't have to pay any rates or insurance or maintenance, but just rent. He's still going to pay the rent.
00:11:25
Speaker 2: You make it sound like he's not paying any insurance, he's not paying any of this. I'm like, I'd like to know what the rent figure is. It's probably not you know, he's probably not paying four or five but eight bucks a week.
00:11:35
Speaker 4: No, it's a bit more than that. But you know, the interesting thing is the talk about your readers store. It's a buyer's market. Well, it's only for all of you out there. It's only a buyer's market if you buy, because the thing is always.
00:11:48
Speaker 2: Hadded, prepared earlier. It sounds like, it sounds like it makes sense, but what does it mean.
00:11:53
Speaker 4: Well, it simply means that people say, oh, it's a buyer's market, and you know, it's a good time. But if you don't take.
00:11:58
Speaker 2: Action, it's an it's a non part.
00:12:01
Speaker 4: Market if you if you participate, So it's.
00:12:03
Speaker 2: A non participants market for non participants if you're not participating. But we could chase them.
00:12:08
Speaker 4: Well, how many times in life have you said you're with friends saying oh, I was going to do that, I was going to buy that share, I was going to buy one of those and you know the gun the things we were going to do and we didn't do. So at the moment, it is a good time to get into the market because we've got good supply of stock, reasonably low cost interest rates compared to recent history, and if you can afford it, you should be getting out and getting amongst it. And the big thing is you never know when the bottom is. Because I thought the bottom was about two years ago.
00:12:44
Speaker 2: You know, Well that's that's the that's the trap, because it's gone lower since then. And does that feed people who are thinking, oh, you know it's.
00:12:53
Speaker 4: Still well, that's the thing. You hold back and think, oh, it's going to go lower, and it doesn't, and it takes off. And by the time it takes off, you have missed the opportunity, you know what I mean.
00:13:02
Speaker 2: I don't know how many people. I mean, obviously some people do have the fortune to buy at the bottom, but they didn't know when they did it. They just looked back and I bought at the bottom.
00:13:10
Speaker 4: Yeah, So that then they expressed what a genius they were. If they're good frenzyers and they like to banter with you. But there's the other person in life that says, I've never ever bought a property at the right time. You know, I'm selling when it's an all time low, and I seem to buy when it's an all time high. So but if you if you're of a long time, it doesn't matter that much over ten years.
00:13:30
Speaker 2: Right, we'd love to hear from you, because there is such a thing as inertia, when you know, people just sort of think. And as I described my own inertia, that it took me forever until I just had to buy something. But what was the what was the motivation that made you think, right, Okay, the market's a bit soft, I should buy, I should buy, I'm saving, I'm gonna buy. What was it that actually got you to There's some very crude expressions around finally getting in there, which you won't use. But what made you finally go right, I'm going to do it, and you did it? One hunden eighty twenty past four. Let's go to Rob.
00:14:06
Speaker 6: Gooday, Hi, I'll make sure on the contrast of what your previous.
00:14:13
Speaker 2: Say. That's Martin. He's my guest for the whole hour. Oh yeah, he's not just my previous.
00:14:20
Speaker 6: I thought he was very Yeah, he had a lot of expertise.
00:14:24
Speaker 2: Oh he is. He's here because he's Martin Cooper from Harcourts, Cooper and co.
00:14:28
Speaker 6: Oh yeah yeah, yeah, yeah, well yeah, I'm just saying we had to buy a house, me and my ex, my ex wife, young kids, and we were pretty much kicked out of our well, the property that we're renting. Yeah, his marriage he divorced. His marriage got a divorce, and he pretty much lasked we had forty two days.
00:15:01
Speaker 2: The landlord was getting divorced, and so he gave you notice to move out, and you were like, what do we do?
00:15:06
Speaker 6: Yeah, yeah, it was really he just came and taught us in person. But we were like, oh no, I was. But then it was key we Save, which saved her back sidse.
00:15:17
Speaker 2: Okay, so that was when you the policy that you can withdraw your he we saver for a deposit faerhouse.
00:15:23
Speaker 6: Yeah yeah, yeah, so and yeah, so we had I know, sixty grand yeah between us and I was about twenty almost thirty.
00:15:38
Speaker 2: Actually, I think how many years ago is this right?
00:15:41
Speaker 6: Twenty eighteen? So I was twenty nine.
00:15:43
Speaker 2: Oh it's not that long. That's only a handful of years ago.
00:15:47
Speaker 6: Eight years and you had a brand new baby as well, and my father, my dad, my mum and dad paid off our credit cards. So we're lucky, lucky.
00:16:00
Speaker 2: Do you consider yourself lucky that you got given to bay your landlord, because otherwise you would have just continued to rent. Yeah.
00:16:09
Speaker 6: Yeah, it was kind of like the ambetuss to buy because we never even thought about it because we thought it was never going to happen.
00:16:19
Speaker 4: Isn't it amazing? Like there's always a silver lining rob like that poor couple divorced, the relationship didn't work out and they move into the house. That triggers you to buy your own place, and that now you've got a place for the rent as long as you want and you're in control of it. It's fantastic.
00:16:37
Speaker 6: Yeah, I've still got it now and it's gone up where we paid four hundred thousand for it in twenty eighteen, that's worth like six hundred now.
00:16:46
Speaker 2: You're what's tali on.
00:16:49
Speaker 6: Hasting?
00:16:51
Speaker 4: Yeah, that's fantastic. And every money, every bit of money you pay into that, it's to pay off. If you've still got a mortgage, you're paying off the debt ands just just paying the rent.
00:17:00
Speaker 6: I would tell people, I would tell people in their twenties just just try and buy one. Otherwise you're just going to be paying rents for ever.
00:17:08
Speaker 2: Yeah, we'll got on your Rob. Actually, I think there'd be quite a few people who think you, I really appreciate your call. That'd be quite a common story in a way that events force the decision rather than because I think you know, when our lives we get used to you just get used to the status quo. And you know, buying a house is a big change to your status quo, isn't it. Yeah.
00:17:29
Speaker 4: There's a lot of triggers in life, and fascinating even in older life, milestone moments you know, you're having a baby, it's time to change your lifestyle and get a home and provide a place to bring up your children, or all of these things that trigger you into action. But that was a good one for Rob. Someone divorces wants their house back and he thinks, hell and good on Rob having the key we saver and his wife.
00:17:58
Speaker 2: Yeah, because there's been a lot of people, I mean, there has been a lot of discussion and there are some people, especially economists in particular, who are opposed to people withdrawing their savings because you know, it's we should be prioritizing retirement savings and all that sort of thing. But if you if you're not able to draw them for a house, you know, try paying for a retirement. Try paying your rent while you're in retirement.
00:18:19
Speaker 4: Yeah, I think, Okay, some people make a mistake. And this is my older person's advice, is you're cashing your key WE saver to buy the house and you think, oh god, I've got a mortgage now, and you stop paying at your KEYI saver, you know, because you're stretched, and then all your money and your vestments in your house. But if you can keep that keep we saver going just a small amount over all the years ahead, your house theoretically should go up on value, so and you pay that off over time, but you still keep your saving going, even though you take a big hit because you take all your money out to put into the deposit for the house. As long as you keep going with the savings, it's incredible because when you get older, the accumulative totally. It may because you were lucky, you've got a bit of a runway. But i'd love to are you are you maxing out paying into your KEYWI saver as a broadcaster to the nation. Are you being a role model?
00:19:16
Speaker 2: No, I'm not. I'm self employed.
00:19:18
Speaker 4: I'm very You've still got to pay into it.
00:19:21
Speaker 2: Luckily, funny enough, I only had that. I'm not sure I want to give away too much, but I had. I had a conversation with a wife we've nearby talked about because she puts aside money and she'd recently up to her contributions. And I suddenly thought, you're doing enough.
00:19:36
Speaker 4: I could be a sales rep for Kiwi Saver. It is the best thing. And you your runway. You're still a young man. It's not too late. And Colonel Sanders start a McDonald's when he was fifty five. Yeah, so for you, you can still have a great reshirement.
00:19:53
Speaker 2: I should open a bakery or something. I've always wanted to do that. Funny enough, I always wanted to do that.
00:19:57
Speaker 4: Yeah, and a breakery.
00:20:04
Speaker 2: Actually he's here, he's actually here with us. Is we've got a helper in the studio, his grandson. Because it's going to say that's not just a dad joke, that's a granddad joke.
00:20:12
Speaker 4: Well, I tell you what I was weird a bakery for sale. We've got a business broker and bad accident there. Last week electrician came round, the power was out and unfortunately he got electrocuted on the site. Wasn't good?
00:20:26
Speaker 2: Oh my god, Yeah, it's terrible. I thought you were starting to tell me a bad joke.
00:20:29
Speaker 4: No, no, no, no, it's terrible. He's stood on a current. Bun Oh.
00:20:35
Speaker 2: God, okay, put us out of our misery. What was you know? It's a it's a soft market. There's not the urgency that there has been. So what is motivating and what did motivate your decision to get into property, Because briefly, I would just say, succumbing to the status choir of your life is the reason people never do anything. So what was it that made you decide I've got to change something I eight hundred eighty ten eighty text nine two ninety two. Well avoid the dad jokes. Martin has permission to tell a few, but not you. If you call it an I eight hundred eighty and eight, that would be a dangerous move, wouldn't it? For the for the property?
00:21:09
Speaker 4: An hour of day.
00:21:10
Speaker 2: No, we're not doing that. That's we'd be back in just a moment. It's twenty seven past four. News Talks HEB News Talks hid B. I'm Tim Bevers. This is the one who've radio shown with Martin Cooper from Harpacurtz, Cooper and co. What was you know? It's it. It seems like a good time to buy, but people are not so energized in terms of urgency. What motivated you to finally make your decision to get into the market or to buy your second or third or whatever. I W eight hundred eighty ten I eight one hundred eighty ten eight tarmity.
00:21:40
Speaker 7: Good A Hey, how's it going, gentlemen?
00:21:42
Speaker 2: Good?
00:21:43
Speaker 7: Good, good god. I'm actually that person who's actually staw something on the fence of looking to buy as a first home buyer. What I've been doing is, I've actually been watching the Reserve Bank over the past three years, and I'm always thinking, because I have saved a certain essential amount, I'm thinking because of there is how the OS hasn't going down lately, interesting things are doing that I've been thinking. I'll watch it until it goes down and downs lowers you can go, and then when it starts to hike, then I will jump.
00:22:11
Speaker 2: Okay, well, sounds like you must be Have you been looking at houses?
00:22:16
Speaker 7: Yes?
00:22:16
Speaker 2: I have.
00:22:17
Speaker 7: I have a friend who works in real estate. I've actually been sending him a number of bunch of listings over the past six months, and he gives me his honest opinions about them, or he'll tell me it may be in price range, maybe not things like that. But going forward, I've decided to make the effort and reach out to a broker over the next couple of months, now that I know there's been speculation of the OCR hiking up next month.
00:22:39
Speaker 2: Oh okay, now you don't have to tell us the amount, but do you roughly how much of how much equity are you going to be putting down and a deposit in terms of relating to the spand are you going to have twenty fifteen?
00:22:52
Speaker 7: Probably the fifteen to twenty because I did get a little examined verbal approval from our own banking specialist last year, and then as I was looking at the open homes that were outside of the range, I thought, I'll saved us a little bit more and up to the savings and this time reach up to a broker instead of my own banking specialists. Okay, brokers can always bug in and tell me what this offer offer.
00:23:14
Speaker 2: I'm guessing you've also called because you're waiting for Martin to give you the inspiration and the encouragement for some more momentum. So Martin, let's go, Martin, what do you reckon? Message for Tammody?
00:23:25
Speaker 4: Tummody, it's time to dive in, to go for it. You're all set up, you've got your deposit, and you've got to get out and get shopping and get into a property because, yeah, things, things might go along. We've got an election coming, so that always with an election is uncertainty. The politicians are saying everything's terrible because they're all criticizing each other. But after the election, I think we've been waiting for a long time for the market to wake up and get a bit more energy about it. And the thing is, once it gets momentum and gets energy and everyone feels positive, then you've got more competition. The prices do lift and you have to pay a bit more. So your timing is perfect now and I would get busy and get shopping and you're looking at buying a place for the next ten years. You've got the money, it's affordable. Are you paying rent at the moment?
00:24:20
Speaker 7: Just look like a board. I'm still looking at home with family, but they have been helping me save during this journey as well.
00:24:26
Speaker 2: Yeah, that's excellent because you It was interesting from my point of view listening to you, and you used the word months quite a few times. You know, you've been doing such and such for six months. You're going to talk to broken the next couple of months, and I would just my guess is, I don't know if Martin has an observation on this, but that still sounds like you're you're stretching it out a bit. But do you do you want some more encouragement from us?
00:24:54
Speaker 7: Not exactly, because this is like stepping points. And also because I had a friend I telling you about. He was telling me he's he's list of the place, and he's been giving me up the motivation to reach up to the broker and has already given me a couple of lists of brokers to reach up to already.
00:25:08
Speaker 2: Yeah, I see. My take would be, and it's not specific advice, of course, but I think the most powerful tool you can do for the next step is to get that approval and know exactly what you can spend. Because you haven't got that yet. That would be sounds like you should.
00:25:22
Speaker 7: Just examine ideally last year. But I've saved more in the past ten months since that discussion last year.
00:25:26
Speaker 2: Awesome, man, Look what do you reckon? I mean my advice is first, get that mortgage of approval. Just get that under your belt. When you say Martin, yeah.
00:25:34
Speaker 4: Talk to talk to a broker and say, here's my finances. See the maximum that you can purchase, and you can get in find a property, you can go into the fixed interest. You know, there's five year rates of just over five percent, so you can. You can know the future, you know how much. So, but it is a matter of starting. You should be thinking in days, minutes, hours, not months.
00:26:01
Speaker 2: Mate. There'll be a lot of people like you, and I think that I'm really appreciate you can. It's a call to share that.
00:26:06
Speaker 7: Yes, and and I've even given a hard time already buy close friends and college at work already.
00:26:11
Speaker 2: Well, I think that the easy thing is getting that approval in terms of it's an easy decision to make, to just get cracking with that, and then all of a sudden your momentums away. Wouldn't you say, yeah, good on you mate, thanks for sharing that, and hey, let us know if you if you if Tarmody calls up, let us know if you when you're buy, we'll start the clock.
00:26:30
Speaker 4: We'll celebrate.
00:26:33
Speaker 2: All of this. So yeah, I mean that's a very common sort of story, isn't it. You know I'm doing this and I just heard the word months a few too many times and I thought, he is. There's a little bit.
00:26:45
Speaker 4: Of well I do it around fitness and how many people are out there. The things we're going to do about going on a diet and starting exercise, Well you apply that to your business life, the same thing I'm going I'm going to get buy a house. And hey, Tarmody, if you're still listening, if you wait, we could be in six months time after the election where you think I should it that I got into it quicker because if everyone comes back in then there's more competition. You've got to pay a high price and so and.
00:27:13
Speaker 2: At the moment, he doesn't have to panic, he's just got to make some few simple decisions. It cracking.
00:27:17
Speaker 4: Yeah, just set a goal, set a deadline. And if you're living with family, have a talk to them. They probably love you, but they'd like you to be a visitor, not a permanent resident.
00:27:27
Speaker 2: Anyway, great call, Tommity, thanks for sharing that with us. Daniel High, Yeah, how are you good? Good?
00:27:35
Speaker 5: I want to throw a spender in the works here for you boys to think about.
00:27:39
Speaker 7: Okay, twenty years.
00:27:42
Speaker 5: Ago, I came in, I was made redundant, and I took my money and people said, oh, well, it's time not to look for a job and start looking for another job and look for buying a house, and I said, Noah. Took some advice from a couple of you know, from the business people that I was dealing with, and they said, invest in businesses, Like I said, okay, kind of long story short. I invested in multiple businesses and still do. We're in the process now building our dream home cash free as a result of dividends and shiholded dividends and so forth over the vast sort of ten fifteen years, I suppose. And I've still got investments in three businesses and one of them makes you work and grab a good salary. So and the people that were telling me to buy a house back in the day, that's still paying their twenty five thirty year mortgages. No, they haven't moved forward, you know what I mean.
00:28:51
Speaker 2: I don't think it's a spander. I don't think it's a spanier in the works, Daniel. I think so you've just invested your money in a different way. I'll hand over to Martin and you guys can have a banter.
00:29:00
Speaker 4: Yeah, good on you, Daniel. And it's just not everyone's cup of tea to be that's small. Property is a safer bet because you get to live in it, you see it, you touch it, and you know it's yours. Whereas a business, not everybody's as enthusiastical or entrepreneurial as you've been to get into a business. But hey, I think as long as you're making steps to create wealth to look after yourself and your family, you can do it through property, and you can certainly do it through business. So good on you. And look at the outcome. You've used your money wisely and now it's delivering for you and your family, so good on you.
00:29:39
Speaker 5: Advice that you the same advice that you give it to Brocus, you should also give the same advice to people to talk to business focus and tell them what are the options because there's lots of there's lots of startup businesses out there, guys that are looking for small investors. And it doesn't take a hello, a lot of time as long as you do your due diligence. You just grow from there and monitor it and do you know what I mean.
00:30:03
Speaker 2: Us, Yeah, that's good on you. And as I said, I don't think that's a spanner on the works. It's just a different degree of difficulty at which some people are either comfortable or not. And Daniel has obviously got that appetite from maybe a bit more risk perhaps.
00:30:15
Speaker 4: Yeah, yeah, good on Daniel, and building a luxury home with your own efforts fully commend it just a pathway to getting your own place.
00:30:25
Speaker 2: Yeah, good call mate, because ultimately he's getting his own place now, so it's still ending up with the same sort of punchline. It's differently getting in it is.
00:30:37
Speaker 8: Well.
00:30:37
Speaker 2: Funnily enough, I can slightly counter that because we bought our first home fifteen years ago when he bought into property, and we've just about we're not far from paying off our mortgage. So getting in at the right time and also investing in your own house can work out quite well from that point of view as well. Although I imagine he's got a bit more income on he still generating, but have income out of his investments.
00:30:58
Speaker 4: But if you focus in on paying down the debt on your property, you know, you go to fort, you talk to a broker or talk to how do I get through this quickly? More quickly? And you know, if the interest rates duck down, you just keep the payments the same because and more's going to principle.
00:31:13
Speaker 2: Yeah, right, Well, we'll be back in a moment. Just to quick break, it's twenty to five News Talk ZEDB News Talk z B eight hundred eighty ten eighty. What was the motivation for you to get into the market. We're talking about that given us a buyer market, there's a bit of slack activity in there. So yeah, Renee, Hello.
00:31:31
Speaker 8: Yeah, evening, How are we guys?
00:31:33
Speaker 2: Good and good? A? Is it Renee or Renee?
00:31:36
Speaker 8: Renee?
00:31:37
Speaker 2: Okay? You're with You're with Martin? Would you like to say all right?
00:31:42
Speaker 8: Sorry, I wanted to listen to the last couple of callers. I've just tuned in. I'm a year out of a relationship. She's brought me out of the house, and I've had money and all that. I'm fifty, so I've got about seventy to eighty K to play with. I'm just wondering with my age, is that enough of a deposit for me to get my own place? And yeah, yeah.
00:32:10
Speaker 4: Well well that is a small amount of deposit, but it depends what market, what part of the country, because they're all different markets. Auckland, christ Church, Wellington.
00:32:22
Speaker 8: Christ I'm in christ Church and I'm looking at us. I'm wanting to get a house on a not a big set of land, and I don't just a three bedroom house so I've got my kids and it's just to see in the weekends and that sort of stuff. And it's basically I don't want to rent because I feel that if I rent, I'm never going to get my own place. And my goal is to get my own place. At the moment, I'm living in a cabin on my mother's front lawn, so I can. So I've got no bills, so I can. I'm looking at hopefully in a year's time to build up on that money. I've got to have a decent I've worked out that I should have about one hundred and twenty odd K to play with within a year's time to get for a house.
00:33:05
Speaker 2: So that's one hundred and twenty on a medium price, and christ it's what's seven eight hundred thousand dollars.
00:33:10
Speaker 8: Yeah, I've been keeping a night Yeah, six hundred, roughly between six and seven for what I'm looking at. I'm not looking at anything flash, just basically a three bedroom something that's tidy. But yeah, looking I think around the five to seven hundred range. I've been looking on training and just keeping my eyes open and seeing what's out there for what I know the prices are going to go up in a year's time. But I was just thinking and just a bit of advice for my age and stuff like that. What a bank look at me?
00:33:40
Speaker 4: Yeah they will. You're fifty, You've still got a good span ahead of time to work, get an income, pay down the mortgage.
00:33:48
Speaker 8: So I've work two jobs as well, So I've got a Monday to Friday job and I'll reach on the weekends. So I'm seven days a week the only days I'll get off of the stats.
00:33:56
Speaker 4: Yeah, good on you. You're making a good journey to bounce back and get your own property. So what you need to do you have a banker or a mortgage broker or anybody.
00:34:10
Speaker 8: That haven't even looked at it.
00:34:12
Speaker 4: Okay, So just what I'd recommend is you just go on and interview a few people and they'll give you the advice you can just brokers. Yeah, my mortgage broker is a good person. Just they're they're all certified, so and just ringing them and asking for advice and just say, right, this is my current income, this is my age, this is my deposit now, and they will do an assessment on you and so you can go out and buy a house right today. It might be for four hundred and eighty thousand. You know, they'll say based on your income, what you can pay back and what your deposit is. They'll give you the target and they'll also give you the pathway to say the houses you want to buy currently about five point fifty you know, to have a nice three bedroom so the kid's family can stay. So that's your target. And then they say you will need to get your income up a little bit, You'll need to get your deposit up a little bit, and you know what you're aiming for. That'll be your first step, get see what your targeted.
00:35:07
Speaker 8: Any mortgage brokers.
00:35:08
Speaker 4: Anybody, just if you like the look of them, you out and talk to them. You sound they sound like that, you trust them.
00:35:13
Speaker 2: Just just tell around. Yeah, just get on, just just talk to people.
00:35:20
Speaker 8: I've been out of the game for a long time. Is there a charge for that.
00:35:22
Speaker 4: No, it's free service. Yeah. Just they'll they'll they'll make their money from the bank when you loan the money off them. But to get you as a client, to win you as a client, they'll give you that. That's free advice. And their fee only comes when you transact and the bank pays their fee, so it's you do indirectly. But it's not an add on cost to you. It's a free service.
00:35:43
Speaker 8: Okay. So if I give them a buzz this week, come in and to say, look, I'm looking in a year's time, but this is what I'm looking at. They'll still help me and all that.
00:35:50
Speaker 4: Absolutely.
00:35:51
Speaker 2: Just they want your business. Yeah, they'd love to. They want to help you. And from the mortgage brokers we've had on this show, they want to help you, mate, So get in there.
00:36:00
Speaker 7: Yeah.
00:36:00
Speaker 4: And hey, but also, just are you outdating again?
00:36:05
Speaker 8: No?
00:36:06
Speaker 4: No, no, we don't rush into it because you're just recharging. But make sure you just interview wealthy women that will help the cause going forward.
00:36:17
Speaker 8: That would be a bonus.
00:36:19
Speaker 2: It would be best wish, is right? All the best for that, but we'll come back with more calls in just a moment. It's twelve minutes to five. Yes, news talks. It'll be Tim Beverage with Martin Cooper from Hardcourts, Cooper and Co. But you know, getting getting committed and taking a step to buying your house some great cause there, thanks for the people are called so far lucky last Miriam.
00:36:40
Speaker 9: Hello here you going good?
00:36:43
Speaker 4: Thanks good, Thanks.
00:36:47
Speaker 9: So I've just brought a half brior years ago, Sarah yourself well the house, but I was Bush that wants to self there and then I went cooking and I've paid my face fan first three months and it was always the help of course of can we save us.
00:37:21
Speaker 4: Yeah, it's a good story, merriam. And you're enjoying the new houses your own place again, Yeah.
00:37:27
Speaker 9: Definitely a lot warmer than the rentals that we're in and a lot easier for up.
00:37:35
Speaker 4: Great, well, good on you.
00:37:36
Speaker 9: And cut a lot more on the old property every report night.
00:37:40
Speaker 4: But yes, that's the joy of owning well, plus the key we saver paid off and hey we've just got to do property of the property of the week, merriam. And if you have a look at this one, we might have your next home.
00:37:56
Speaker 2: Hey, thanks for your call, Mariam. Sorry, we do have to knock it on the head there because it is time.
00:38:00
Speaker 1: For the one roof property of the week on the Weekend Collective and the.
00:38:07
Speaker 2: One root property of the week. Look at it. It's in that sort of ballpark of being the one that you you'd love to love to get it if you won the lotto possibly although anyway, it's Queenstown Lakes Clothes burn in Queenstown Lakes At The address is nineteen Bayswater Lane, and I got to say it's it's a property that is after my own heart because it's I do love Queenstown. But it's beautifully designed, it's got this. It's in an exclusive enclave above Wilson Bay and it's described as an exceptional residence with breathtaking views across lake across Lake Walker, Tippoo the surrounding mountains, minutes from Queenstown. And I've got to say it really is quite something if you and I always say, even if you can't afford this sort of stuff, it's like having a holiday. You go on and have a look, you look at look at a few ideas. What do you Martin, what do you what do you think of the property?
00:38:59
Speaker 4: Well, that the view is the hero of this property. It's just stunning. And if you you know, it'll be a higher price point. The reserve the sort of the rateable value three three point six miles, so it'd be somewhere around or over that.
00:39:14
Speaker 2: But probably over that given its Queenstown.
00:39:17
Speaker 4: Yeah possibly, But didn't you say in this whole price a buyer's market.
00:39:22
Speaker 2: I don't know if it's a bass market in Queenstown, but.
00:39:25
Speaker 4: No, Queenstown's running hot. That's got the foreign buyers, overseas buyers able to purchase now, so they're really it's its own climate in Queenstown. But hey, that this property's got the privacy and isolation of having that you're still close to the city. Real livable home, spectacular and you get online in one roof and have a look and aspirational type property this one. It could be a holiday house, could be move the family down to Queenstown and just you probably wouldn't want to go to work that much looking at those windows at that view though, were.
00:39:59
Speaker 2: You don't really want to go to work a lot in Queenstown anyway with the traffic apparently, but you know, you could have a lovely time of you're stuck at home.
00:40:06
Speaker 4: Yeah we're from home. It'd be perfect.
00:40:09
Speaker 2: Anyway, go and check it out. The address again is nineteen Bayswater Lane in Queenstown, and look, it's it's worth it just to have a look at a great property. And funny enough, the thing that attracts me as a secondary look, I just love the look of the back out and I don't know what it is. It's just maybe it's just the beautiful blue scarf and a targo sort of day and they've got a bit of a barbecue at the back and a nice.
00:40:33
Speaker 4: S gardening fetish that you know, you just know.
00:40:36
Speaker 2: I like the idea of the outdoor hosting, you know, just getting people around sitting outside, yeah freezing.
00:40:43
Speaker 4: Oh hey, put an outdoor fire put in here. You've got a lot of things you could do outdoor entertainment.
00:40:49
Speaker 2: It doesn't look like it's got a spar pool there that they haven't featured there just around the corner. Oh there it is, yeah, sparpool as well. Oh god, have a look at it. Nineteen Bayswater in Queenstown, Martin. Great to have you, and I know I think you've You've done a couple of our calls a real over. There will be interesting to see where they go in their journey in the next few months.
00:41:07
Speaker 4: Oh yeah, it's time to take action, get it and do it. Cheers, thank you.
00:41:12
Speaker 2: Okay, we'll be back with the Parents Squad. Sheridan Katona is with us from the parenting Place, talking about the value of extra curricular activities, among other things we're going to touch on with Sheridan and I mean, how much is too much? But also parents who want to be best friends with their kids. I suspect she's going to tell us that's a mistake, but we'll find out. This is News talksb OH eight hundred and eighty ten. Ay with the Parent Squad is next.
00:41:38
Speaker 1: For more from the weekend collective, listen live to News Talks EDB weekends from three pm, or follow the podcast on iHeartRadio.
