I hope everyone enjoyed the video, I certainly laid it all out there but I hope this helps others who may have been in a similar position as me. We all are born with privileges, I certainly have as I shared, but what counts in the end is setting a goal and sticking to it through thick and thin. Everyone's achievements are their own and should never be compared. I wish everyone the very best in their journey 🙏🙏🙏
I’m a new grad registered nurse in Auckland that started studying in 2018. Started working casually as a healthcare assistant at 20 years old. I also had student allowance on top of working and managed to save $10,000 that year. By 2020 I learned about the stock market and invested heavily into sharesies. By the end of 2021 I had invested in large blue chip American stocks like Pfizer, vanguard S&P 500 and other companies and had over $6000 returns. I later sold the stocks I made profit on before 2022 started to purchase an apartment. Parents did help me with buying my first apartment in the city but I really had to hustle and grind with work, savings and investing for 3 years as my goal in the long term was to own a piece of property. This video is proof that if you stay focus on your goal, don’t spend money on materialistic items or alcohol, vape pens or cigarettes, you can buy a property.
Wow Julian that’s awesome! Good work, it’s certainly tough but the rewards make it all worth it. Really appreciate you sharing your story and you’ve done a great job!! 👍👍
Mate! You may have already been told his but you have a great knack for presenting to the camera. Subscribed! Found ya through the costco videos. I'm moving to Auckland in a month or two for a new job and I'm looking forward to investing in a deep freeze and sticking up on items!
I have followed your YT for awhile now, what really made me follow you is because it is NZ based instead of US. I also liked how you saved for it based on your experience and acknowledged there are different ways to save for it. I also liked that you have called out the reality of young people buying their first homes usually they get help. Your tips are helpful, realistic and honest which is what a lot of people want to hear or need. My focus is on reducing my debt and saving for a deposit it is a 4 year plan. Thank you for your video.
I didn’t search for this video, but this is one of the best videos I’ve watched in a long time. This is quite encouraging and inspiring especially as someone also residing in NZ and desperately wanting to get into the property market. Thank you for sharing your experience in such detail!
Thanks for sharing! Hopefully, my partner and I could also buy a home in Auckland after four years!! We don't know much about stock markets, so maybe investing in NZ big banks' managed funds could be a good investing option?
Wishing you all the best! Can't give any specific advice but there's lots of great information out there about funds, both managed and passive index-tracking. Before investing make sure to read the Product Disclosure Statement and any investor materials you can find as they'll help you make an informed decision around fees, the team managing the money, and what the investment objectives are!
Hey Paul, thanks for the positive words! I bought from Fletcher Living as they have a good brand name and were very easy to work with. Thanks for watching!
Haha won't give exact numbers but it wasn't huge. The 50% was purely achieved on the expenses side rather than income. By living in the CBD I managed to nearly completely cut all transport costs (no car, no parking, no fuel, no insurance etc). My only real costs were rent and food, anything beyond that was very discretional. Thanks for watching!
Hey Dilan! There's no capital gains tax in NZ so I didn't have any tax liabilities as a result of liquidating. The only exception to this is where the IRD determines you to be a 'trader' regularly buying and selling stock. Thanks for watching!
Hey! Most of my deposit was sitting in Sharesies, invested in both stocks and funds. These days with their Save feature, there's even more options to earn money through the platform while accumulating a deposit. I also had money invested in Kernel, my Milford kiwisaver fund, Binance, and some liquid cash in a regular ASB Fastsaver account (low return but it meant the money was liquid). Where you put your money while saving depends on your risk tolerance - in hindsight mine was put at a high level of risk, as the portfolio could easily move by $1-2k a day, up or down. For a lower risk approach, finding a savings/call/term account may suit best. www.interest.co.nz has a great comparison tool under the "saving" heading, that allows you to compare all these options in the market. Hope that helps!
Hi Brent always love your videos , have a question that is it worth buying an apartment or a house because apartments seems to be on cheaper side than house(Note-this will be my first property in Auckland). Many thanks.
Heya! Great question! I had the same consideration when I was looking in Auckland's north-west as apartments of the same size as a townhouse are ~$100k cheaper. I have lived in a city apartment for a few years so I'll give you the reasons I didn't buy one. First, is that apartments are often rented out. In New Zealand you have some good tenants and bad ones, if you have a bad one, there are almost no landlord rights to evict them. Second, is the additional costs. Body Corp fees can be high, and aren't merit-based. Third, is leasehold vs freehold. Leasehold is a major issue in NZ, I would absolutely stay clear of these (look up Scene One Apartments in the city). Freehold is often better. Fourth, parking - not all apartments have a designated park. And finally fifth, bank financing can be a bit more lenient for townhouses/houses. The good points are generally lower maintenance costs, no yard to maintain, great security, often better locations, and the better price point. All comes down to personal preference but these are some points I had! All the best for your climb onto the property ladder!!
@@BrentColeman thanks Brent I saw one of your other kiwibuild videos and did went to check out some homes in that area, they look decent and nowadays some of them are giving a loan of 3.95 and 4 percent for 2 years which makes it a bit affordable. Another thing so if I had to look for an apartment then look for parking, freehold title and body corp fees. Many thanks
Only 113,000 for a deposit? How much roughly was the property if you don't mind asking. I have about that much for a deposit at the moment, but still thought I had a lot more to save to get anything half decent. I spend so much on rent currently that I would be saving money paying mortgage bills 😂. Cheers.
Heya! Yes that's correct it was about a 15% deposit on the $770k home. The amount you can borrow is largely dependent on your income, but having a deposit greater than 10% definitely helps. If I were to rent right now I'd be spending ~$300 less a week than owning the same property! :D
I got mine through Sovereign, which has now been absorbed into ASB. Definitely try through a mortgage advisor and get them to look into it - when I went direct to the bank, they offered a much lower amount! All the best!
Great question, it's certainly one I ponder over too. The economics at the time of purchase made a lot more sense than it does now. Undoubtedly rates were going to increase, but at the time the terminal OCR was estimated to be just 3.5%. This would mean my rate would peak at ~5% on the Back My Build special rate. Ten months on, rates have increased much faster than anyone expected - economists, banks, the reserve bank, government, everybody got it wrong. So the economics have turned in my opinion and it is again cheaper to rent. The other angle that gives me comfort is that as a first home buyer I was able to buy a house at a discount to market value, so even though prices are falling I was largely insulated from it. Liquidating the portfolio was easy, one its main purposes was as a store of value to one day afford a deposit on a home. As New Zealand doesn't have a capital gains tax, nor was I an active trader, there were no tax implications from selling, aside from a little accrued PIE tax I owed through Kernel. Thanks for watching!
How the hell do you get a loan for a $100,000 deposit on any home in New Zealand? Any decent home averages out to be around the $500,000 mark and you need at least 40% of a deposit to get a loan for something like that.
In New Zealand you can get a mortgage with a 10% deposit, provided your income is high enough to service the additional low equity margin charges over and above the test rates. First Home Loan is a government scheme that even allows deposits as low as 5%, provided you meet specific criteria.
@@slapnut892 unfortunately it is only for first home purchases for those using it as their primary residence. You can however have flatmates, which would generate a modest return without restriction
Hey - glad you enjoyed the video! Both Milford and Kernel are big hitters in the funds space in NZ, with Kernel being more passive and low-cost, while Milford is more hands-on and performance-oriented. Some years one might do better than the other, but just as easily the next year swings back towards the other. It all comes down to your preference really! Check out their investment focus, perhaps some of their bigger stock positions, closely evaluate fees and their historical returns, and hopefully that helps point you in the right direction!
![ตีสิบเดย์ [FULL] | ตัวตึง! ปากกล้า! ท้ารบ! "ทนายไพศาล เรืองฤทธิ์"](http://i.ytimg.com/vi/pU3dXTsaBVc/mqdefault.jpg)
Hey Brent, love the honesty and candour. Great to see this level of transparency, rare in the social media world. Keep it up!
Thanks Anisha. Glad you enjoyed the video, I hope by sharing my experience it helps others who are wanting to get onto the housing ladder.
I hope everyone enjoyed the video, I certainly laid it all out there but I hope this helps others who may have been in a similar position as me. We all are born with privileges, I certainly have as I shared, but what counts in the end is setting a goal and sticking to it through thick and thin. Everyone's achievements are their own and should never be compared. I wish everyone the very best in their journey 🙏🙏🙏
I’m a new grad registered nurse in Auckland that started studying in 2018. Started working casually as a healthcare assistant at 20 years old. I also had student allowance on top of working and managed to save $10,000 that year. By 2020 I learned about the stock market and invested heavily into sharesies. By the end of 2021 I had invested in large blue chip American stocks like Pfizer, vanguard S&P 500 and other companies and had over $6000 returns. I later sold the stocks I made profit on before 2022 started to purchase an apartment. Parents did help me with buying my first apartment in the city but I really had to hustle and grind with work, savings and investing for 3 years as my goal in the long term was to own a piece of property. This video is proof that if you stay focus on your goal, don’t spend money on materialistic items or alcohol, vape pens or cigarettes, you can buy a property.
Wow Julian that’s awesome! Good work, it’s certainly tough but the rewards make it all worth it. Really appreciate you sharing your story and you’ve done a great job!! 👍👍
Mate! You may have already been told his but you have a great knack for presenting to the camera. Subscribed! Found ya through the costco videos. I'm moving to Auckland in a month or two for a new job and I'm looking forward to investing in a deep freeze and sticking up on items!
Hi Jordan, thanks for the kind words! Thanks for watching!
I have followed your YT for awhile now, what really made me follow you is because it is NZ based instead of US. I also liked how you saved for it based on your experience and acknowledged there are different ways to save for it.
I also liked that you have called out the reality of young people buying their first homes usually they get help. Your tips are helpful, realistic and honest which is what a lot of people want to hear or need. My focus is on reducing my debt and saving for a deposit it is a 4 year plan. Thank you for your video.
Thanks a lot for the supportive comment! Wishing you all the best for your house buying journey!
Keep up the great content mate! 👏
Thanks bro! Glad you enjoyed it!
I didn’t search for this video, but this is one of the best videos I’ve watched in a long time.
This is quite encouraging and inspiring especially as someone also residing in NZ and desperately wanting to get into the property market. Thank you for sharing your experience in such detail!
Glad you enjoyed it! Thanks for the positive words :)
Hi im a student living in auckland and your experience reassures me a lot.
Haha glad it helped! If you have any questions let me know!
You seem well disciplined with your money.. Good video man. 👍
Thanks Todd! Glad you enjoyed the video!
Hey man, great video! I live just down the road from you by the looks of your house layout! Welcome neighbour
Thanks for the kind words Eduan! Wow small world aye!
Cool to see a nz TH-camr and good effort I just got my first house and it isn’t easy here
Man amazing timing selling your crypto in April right before the price dropped!
Haha and it felt like bad timing even back then!! Happy I was with Binance instead of FTX/Crypto.com!
Thanks for sharing! Hopefully, my partner and I could also buy a home in Auckland after four years!! We don't know much about stock markets, so maybe investing in NZ big banks' managed funds could be a good investing option?
Wishing you all the best! Can't give any specific advice but there's lots of great information out there about funds, both managed and passive index-tracking. Before investing make sure to read the Product Disclosure Statement and any investor materials you can find as they'll help you make an informed decision around fees, the team managing the money, and what the investment objectives are!
Your TH-cam channel is awesome!
Wow, thanks Jasmine! Glad you enjoyed it!
Great Video. Thank you.
Thanks May, glad you found it useful!
Thanks for this informative video Brent! Quick question: what property developer built the townhouse you've bought? TIA!
Hey Paul, thanks for the positive words! I bought from Fletcher Living as they have a good brand name and were very easy to work with. Thanks for watching!
@@BrentColeman good luck with your YT channel!
Respect 🙏
Thanks Alex!
What was your monthly income? Saving 50% of your income is insane with how expensive NZ is to live in.
Haha won't give exact numbers but it wasn't huge. The 50% was purely achieved on the expenses side rather than income. By living in the CBD I managed to nearly completely cut all transport costs (no car, no parking, no fuel, no insurance etc). My only real costs were rent and food, anything beyond that was very discretional. Thanks for watching!
Nice one mate. How about capital gain taxes you had to pay after selling stocks and crypto ? what is the percentage of capital gain tax ?
Hey Dilan! There's no capital gains tax in NZ so I didn't have any tax liabilities as a result of liquidating. The only exception to this is where the IRD determines you to be a 'trader' regularly buying and selling stock. Thanks for watching!
@@BrentColeman Thanks Brent. That's great that there is no capital gain taxes in NZ. cheers. 😃
Hi there, I'm new to your channel. Where did you park your money whilst saving? Normal savings account, term deposits, pie funds, cash fund...?
Hey! Most of my deposit was sitting in Sharesies, invested in both stocks and funds. These days with their Save feature, there's even more options to earn money through the platform while accumulating a deposit. I also had money invested in Kernel, my Milford kiwisaver fund, Binance, and some liquid cash in a regular ASB Fastsaver account (low return but it meant the money was liquid). Where you put your money while saving depends on your risk tolerance - in hindsight mine was put at a high level of risk, as the portfolio could easily move by $1-2k a day, up or down. For a lower risk approach, finding a savings/call/term account may suit best. www.interest.co.nz has a great comparison tool under the "saving" heading, that allows you to compare all these options in the market. Hope that helps!
Hi Brent always love your videos , have a question that is it worth buying an apartment or a house because apartments seems to be on cheaper side than house(Note-this will be my first property in Auckland).
Many thanks.
Heya! Great question! I had the same consideration when I was looking in Auckland's north-west as apartments of the same size as a townhouse are ~$100k cheaper. I have lived in a city apartment for a few years so I'll give you the reasons I didn't buy one. First, is that apartments are often rented out. In New Zealand you have some good tenants and bad ones, if you have a bad one, there are almost no landlord rights to evict them. Second, is the additional costs. Body Corp fees can be high, and aren't merit-based. Third, is leasehold vs freehold. Leasehold is a major issue in NZ, I would absolutely stay clear of these (look up Scene One Apartments in the city). Freehold is often better. Fourth, parking - not all apartments have a designated park. And finally fifth, bank financing can be a bit more lenient for townhouses/houses. The good points are generally lower maintenance costs, no yard to maintain, great security, often better locations, and the better price point. All comes down to personal preference but these are some points I had! All the best for your climb onto the property ladder!!
Oh, and apartments often have great facilities like a pool and gym!
@@BrentColeman thanks Brent I saw one of your other kiwibuild videos and did went to check out some homes in that area, they look decent and nowadays some of them are giving a loan of 3.95 and 4 percent for 2 years which makes it a bit affordable.
Another thing so if I had to look for an apartment then look for parking, freehold title and body corp fees.
Many thanks
@@BrentColeman And what are your thoughts on Rockfield apartments in oranga
Very informative
Only 113,000 for a deposit? How much roughly was the property if you don't mind asking. I have about that much for a deposit at the moment, but still thought I had a lot more to save to get anything half decent. I spend so much on rent currently that I would be saving money paying mortgage bills 😂. Cheers.
Heya! Yes that's correct it was about a 15% deposit on the $770k home. The amount you can borrow is largely dependent on your income, but having a deposit greater than 10% definitely helps. If I were to rent right now I'd be spending ~$300 less a week than owning the same property! :D
@@BrentColeman Nice, well done man. May I ask what banks approve 15% these days? I was thinking I would need 20%. But I only enquired with ANZ.
I got mine through Sovereign, which has now been absorbed into ASB. Definitely try through a mortgage advisor and get them to look into it - when I went direct to the bank, they offered a much lower amount! All the best!
@@BrentColeman Thanks man!
Having had a bit of time pass, do you regret selling your entire portfolio to get a house? Did you deal with tax consequences the following year?
Great question, it's certainly one I ponder over too. The economics at the time of purchase made a lot more sense than it does now. Undoubtedly rates were going to increase, but at the time the terminal OCR was estimated to be just 3.5%. This would mean my rate would peak at ~5% on the Back My Build special rate. Ten months on, rates have increased much faster than anyone expected - economists, banks, the reserve bank, government, everybody got it wrong. So the economics have turned in my opinion and it is again cheaper to rent. The other angle that gives me comfort is that as a first home buyer I was able to buy a house at a discount to market value, so even though prices are falling I was largely insulated from it. Liquidating the portfolio was easy, one its main purposes was as a store of value to one day afford a deposit on a home. As New Zealand doesn't have a capital gains tax, nor was I an active trader, there were no tax implications from selling, aside from a little accrued PIE tax I owed through Kernel. Thanks for watching!
👏👏
How the hell do you get a loan for a $100,000 deposit on any home in New Zealand? Any decent home averages out to be around the $500,000 mark and you need at least 40% of a deposit to get a loan for something like that.
In New Zealand you can get a mortgage with a 10% deposit, provided your income is high enough to service the additional low equity margin charges over and above the test rates. First Home Loan is a government scheme that even allows deposits as low as 5%, provided you meet specific criteria.
@@BrentColeman does the scheme also include rental properties? I would like to know more about it.
@@slapnut892 unfortunately it is only for first home purchases for those using it as their primary residence. You can however have flatmates, which would generate a modest return without restriction
@@BrentColeman I don't get on well with other people so that counts that idea out. Thanks anyway.
Awesome and such an inspiration!! Would you recommend kernel kiwi saver growth fund than Milford active growth fund. Thanks:))
Hey - glad you enjoyed the video! Both Milford and Kernel are big hitters in the funds space in NZ, with Kernel being more passive and low-cost, while Milford is more hands-on and performance-oriented. Some years one might do better than the other, but just as easily the next year swings back towards the other. It all comes down to your preference really! Check out their investment focus, perhaps some of their bigger stock positions, closely evaluate fees and their historical returns, and hopefully that helps point you in the right direction!
You are amazing man ! Just started following you recently 🙏 can I please get your contact details