Name: Renting Or Buying A House In New Zealand - Which Is Best?
Uploaded: 2023-06-29T10:23:54+00:00
Duration: 24 min 38 s
Description: In this video we take a deep dive into some real-life numbers and compare the pros and cons of renting versus buying an average house in New Zealand. If you can save enough for a deposit to purchase a

2 years ago

In this video we take a deep dive into some real-life numbers and compare the pros and cons of renting versus buying an average house in New Zealand. If you can save enough for a deposit to purchase a house (or even if you don't) we compare 2 options in this scenario - either purchasing a property or renting and investing the deposit for investment gains. We'll show you what the final numbers come out as based on our personal last 20 years of data. The results may surprise you!

⏱️ Video Chapters ⏱️
00:00 Intro
00:50 Background On Our House
01:37 Making Some Assumptions For Purchasing vs Renting
02:35 Caveats For Our Comparisons
03:20 Renting A House - Pros
04:03 Renting A House - Cons
04:26 Buying A House - Pros
05:11 Buying A House - Cons
06:20 Getting The Numbers - Historical Rental Prices In My Suburb
06:53 Historical House Prices In My Suburb
07:19 Historical Rates/Property Tax For My House
07:43 Historical Insurance Costs For My House
08:08 Maintenance Costs/Guesstimates In My Suburb
08:47 Summary Of Baseline Numbers
09:00 Inflation Over Time In New Zealand - Some Comparisons
10:47 Project Rental Prices Over The Next 30 Years
12:03 Projected House Prices Over The Next 30 Years
12:57 Projected Rates/Property Tax Over The Next 30 Years
13:51 Projected Insurance Costs Over The Next 30 Years
14:16 Projected Maintenance Costs Over The Next 30 Years
14:30 Opportunity Cost When Renting And Investing The House Deposit
15:30 Renting Vs Buying For A Single Person
21:31 Renting Vs Buying For A Couple (Or With Flatmates)
23:50 Summary