Has anyone done this/considered it
Aug 5th 2016, 2:09 am
#46
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,439
Re: Has anyone done this/considered it
I have continued to read this thread as it has developed despite not posting recently.
I think that a good bit of the problem, that Justcol has alluded to without coming out and actually saying is that people often place restrictions on themselves. If instead they engage in a bit of out-of-the-box thinking, challenging some of the boundaries they imposed on themselves, then they might find a way to get more of what they want in life.
I would especially say this is true about careers and employment - and the answer might be to take a radical change in direction. Even if you are doing a job which you always dreamed of doing, you might find that there is another job that pays better, and you may even enjoy it even more. ..... My sister studied plant sciences at uni, and enjoyed it so much that she went on to do an MSc in plant pathology. That enabled her to step into a career in plant pathology research, which she just loved. Then after a few years, maybe three or four, working in a well known research laboratory she realised that having been promoted to laboratory manager there was nowhere else for her to progress to, and then money she was on sucked, and was always going to suck, and she was still only in her mid 20's
So she quit her job, took an intensive course as an executive secretary, sold her soul to the devil, and went to London to work for a venture capital firm (not too far removed from what is commonly called a "hedge fund" these days). ..... At least that put a stop to her whinging about how morally superior she was working in food crop research compared to my job which was pretty meaningless to the future happiness and wellbeing of mankind!
Curiously Mrs P went to uni with a plan to become a journalist, however she graduated with a degree in leisure and sports management, but has never worked in the sport or hospitality business. She went back to uni and got a degree in English, which had been her original intention, but still didn't go into journalism. Later she trained, like my sister, as an executive secretary, which she just loved, both in London, and later when we came to the US (back to the US in her case), but after giving birth to our daughter she couldn't find a suitable job and took "boot camp" training in something completely different, a job she had never dreamed of doing, and indeed, on paper had absolutely no qualifications or experience for, yet she loves the job and excels at doing it, and it pays very nicely too.
PS My sister got married and quit her job at the vulture capitalist firm to go with her husband to France. Later they moved to Pennsylvania, ..... where she took a job on a farm making artisan cheese. So naturally, after leaving the US to return to the UK she took a job as a dairy manager at a local cheese making farm. .... She left that to start her own cheese making business, but until that plan comes together she is working in construction contracting and renovating houses with her boyfriend.
I think that a good bit of the problem, that Justcol has alluded to without coming out and actually saying is that people often place restrictions on themselves. If instead they engage in a bit of out-of-the-box thinking, challenging some of the boundaries they imposed on themselves, then they might find a way to get more of what they want in life.
I would especially say this is true about careers and employment - and the answer might be to take a radical change in direction. Even if you are doing a job which you always dreamed of doing, you might find that there is another job that pays better, and you may even enjoy it even more. ..... My sister studied plant sciences at uni, and enjoyed it so much that she went on to do an MSc in plant pathology. That enabled her to step into a career in plant pathology research, which she just loved. Then after a few years, maybe three or four, working in a well known research laboratory she realised that having been promoted to laboratory manager there was nowhere else for her to progress to, and then money she was on sucked, and was always going to suck, and she was still only in her mid 20's
So she quit her job, took an intensive course as an executive secretary, sold her soul to the devil, and went to London to work for a venture capital firm (not too far removed from what is commonly called a "hedge fund" these days). ..... At least that put a stop to her whinging about how morally superior she was working in food crop research compared to my job which was pretty meaningless to the future happiness and wellbeing of mankind!
Curiously Mrs P went to uni with a plan to become a journalist, however she graduated with a degree in leisure and sports management, but has never worked in the sport or hospitality business. She went back to uni and got a degree in English, which had been her original intention, but still didn't go into journalism. Later she trained, like my sister, as an executive secretary, which she just loved, both in London, and later when we came to the US (back to the US in her case), but after giving birth to our daughter she couldn't find a suitable job and took "boot camp" training in something completely different, a job she had never dreamed of doing, and indeed, on paper had absolutely no qualifications or experience for, yet she loves the job and excels at doing it, and it pays very nicely too.
PS My sister got married and quit her job at the vulture capitalist firm to go with her husband to France. Later they moved to Pennsylvania, ..... where she took a job on a farm making artisan cheese. So naturally, after leaving the US to return to the UK she took a job as a dairy manager at a local cheese making farm. .... She left that to start her own cheese making business, but until that plan comes together she is working in construction contracting and renovating houses with her boyfriend.
Last edited by Pulaski; Aug 5th 2016 at 2:23 am.
Aug 5th 2016, 2:15 am
#47
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Thread Starter
Joined: Jul 2012
Posts: 98
Re: Has anyone done this/considered it
I have continued to read this thread as it has developed despite not posting recently.
I think that a good bit of the problem, that Justcol has alluded to without coming out and actually saying is that people often place restrictions on themselves. If instead they engage in a bit of out-of-the-box thinking, challenging some of the boundaries they imposed on themselves, then they might find a way to get more of what they want in life.
I would especially say this is true about careers and employment - and the answer might be to take a radical change in direction. Even if you are doing a job which you always dreamed of doing, you might find that there is another job that pays better, and you may even enjoy it even more. ..... My sister studied plant sciences at uni, and enjoyed it so much that she went on to do an MSc in plant pathology. That enabled her to step into a career in plant pathology research, which she just loved. Then after a few years, maybe three or four, working in a well known research laboratory she realised that having been promoted to laboratory manager there was nowhere else for her to progress to, and then money she was on sucked, and was always going to suck, and she was still only in her mid 20's
So she quit her job, took an intensive course as an executive secretary, sold her soul to the devil, and went to London to work for a venture capital firm (not too far removed from what is commonly called a "hedge fund" these days). ..... At least that put a stop to her whinging about how morally superior she was working in food crop research compared to my job which was pretty meaningless to the future happiness and wellbeing of mankind!
Curiously Mrs P went to uni with a plan to become a journalist, but graduated with a degree in leisure and sports management, but has never worked in the sport or hospitality business. She went back to uni and got a degree in English, which had been her original intention, but still didn't go into journalism. Later she trained, like my sister, as an executive secretary, which she just loved, both in London, and later when we came to the US (back to the US in her case), but after giving birth to our daughter she couldn't find a suitable job and took "boot camp" training in something completely different, a job she had never dreamed of doing, and indeed, on paper had no qualifications or experience for, yet she loves the job and excels at doing it, and it pays very nicely too.
I think that a good bit of the problem, that Justcol has alluded to without coming out and actually saying is that people often place restrictions on themselves. If instead they engage in a bit of out-of-the-box thinking, challenging some of the boundaries they imposed on themselves, then they might find a way to get more of what they want in life.
I would especially say this is true about careers and employment - and the answer might be to take a radical change in direction. Even if you are doing a job which you always dreamed of doing, you might find that there is another job that pays better, and you may even enjoy it even more. ..... My sister studied plant sciences at uni, and enjoyed it so much that she went on to do an MSc in plant pathology. That enabled her to step into a career in plant pathology research, which she just loved. Then after a few years, maybe three or four, working in a well known research laboratory she realised that having been promoted to laboratory manager there was nowhere else for her to progress to, and then money she was on sucked, and was always going to suck, and she was still only in her mid 20's
So she quit her job, took an intensive course as an executive secretary, sold her soul to the devil, and went to London to work for a venture capital firm (not too far removed from what is commonly called a "hedge fund" these days). ..... At least that put a stop to her whinging about how morally superior she was working in food crop research compared to my job which was pretty meaningless to the future happiness and wellbeing of mankind!
Curiously Mrs P went to uni with a plan to become a journalist, but graduated with a degree in leisure and sports management, but has never worked in the sport or hospitality business. She went back to uni and got a degree in English, which had been her original intention, but still didn't go into journalism. Later she trained, like my sister, as an executive secretary, which she just loved, both in London, and later when we came to the US (back to the US in her case), but after giving birth to our daughter she couldn't find a suitable job and took "boot camp" training in something completely different, a job she had never dreamed of doing, and indeed, on paper had no qualifications or experience for, yet she loves the job and excels at doing it, and it pays very nicely too.
Aug 5th 2016, 3:02 am
#48
She'll be right
Joined: Sep 2012
Location: Near the beach, NZ
Posts: 1,498
Re: Has anyone done this/considered it
)I know me telling you not to worry about it probably won't help entirely as this is clearly something that's upsetting you, but honestly don't let this eat you up inside. The media hype around the need to purchase a house is just another form of propaganda being rammed down the throats of young adults at the moment. If you have to wait even 5 or so years, re-locate, buy a stepping-stone property, buy a reno then so be it, it won't make much difference in the grand scheme of things. Anyway I've rambled a little, please stay in touch and let us know how you get on...
Aug 5th 2016, 3:09 am
#49
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Re: Has anyone done this/considered it
Don't think this way Angeshirl. In no way should a house purchase dictate whether you are successful or not. If it makes you feel better the Swiss and German's rent for a large portion of their adult years and only buy later on when they're closer to 40. Home ownership is rammed down our throats nowadays and I can partly see why, but at the same time, it's not the be all and end all. The UK and NZ seem particularly good at making young people feel pressured into purchasing a home and if they don't then their retirement plans, hopes, dreams and the whole world will fall apart if they don't! Fact is no one knows what's going to happen in life. I'm 30 years old at the moment and although I'm partially thinking of my older years, I am not too worried about it because it's a long way off and anything could happen between now and then (I'm hoping a decent lotto windfall )
I know me telling you not to worry about it probably won't help entirely as this is clearly something that's upsetting you, but honestly don't let this eat you up inside. The media hype around the need to purchase a house is just another form of propaganda being rammed down the throats of young adults at the moment. If you have to wait even 5 or so years, re-locate, buy a stepping-stone property, buy a reno then so be it, it won't make much difference in the grand scheme of things. Anyway I've rambled a little, please stay in touch and let us know how you get on...
)I know me telling you not to worry about it probably won't help entirely as this is clearly something that's upsetting you, but honestly don't let this eat you up inside. The media hype around the need to purchase a house is just another form of propaganda being rammed down the throats of young adults at the moment. If you have to wait even 5 or so years, re-locate, buy a stepping-stone property, buy a reno then so be it, it won't make much difference in the grand scheme of things. Anyway I've rambled a little, please stay in touch and let us know how you get on...
Aug 5th 2016, 4:00 am
#50
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Joined: Oct 2003
Posts: 38,611
Re: Has anyone done this/considered it
The 'too old to have children' is a very tough one. Believe me, I know & live with that .
The 'too old' to have a mortgage is pertinent as no-one would want to really still have a mortgage round their neck as they approach retirement years so I quite see the angst.
Also, here in NZ we tend to see our homes as part of our superannuation banking. Our own solid roof over our heads as the rental stock here is quite often expensive and not all that.
It is a crying shame that the Auckland area property prices are so ridiculous.
I personally favour that you explore the idea of buying an apartment in Auckland.
How long before you could unlock your Kiwisaver?
Do all mortgage lenders require the 40% deposit. I'm outta that loop thank goodness
The 'too old' to have a mortgage is pertinent as no-one would want to really still have a mortgage round their neck as they approach retirement years so I quite see the angst.
Also, here in NZ we tend to see our homes as part of our superannuation banking. Our own solid roof over our heads as the rental stock here is quite often expensive and not all that.
It is a crying shame that the Auckland area property prices are so ridiculous.
I personally favour that you explore the idea of buying an apartment in Auckland.
How long before you could unlock your Kiwisaver?
Do all mortgage lenders require the 40% deposit. I'm outta that loop thank goodness
Aug 5th 2016, 4:10 am
#51
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Aug 5th 2016, 4:20 am
#52
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Re: Has anyone done this/considered it
At 35 you've nowt to worry about
Aug 5th 2016, 4:23 am
#53
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Re: Has anyone done this/considered it
So, it's an apartment for me, solo and just a very quick look around today, I'll struggle on my own. I could do it but it would be much better with two salaries.
Investment property, that's a different story. I wouldn't be able to access Kiwisaver and I would need a 40% deposit so, the money I've saved again wouldn't go far.
Just as an example (very very rough example). Let's say a one bedroom unit in New Lynn which I saw recently at 600,000, I would need $120,000 deposit for that. For a $250,000 house in Dunedin as an investment I would need $100,000 for a deposit on that. Both, I can't stretch to that kind of money even if my partner was going to be involved.
It's just an example, I hope it makes sense. With a bit more disclosure I suppose now you'll see more of the dilemma and just how much I have messed up. Also, my partner is not a bad person, he is kind and lovely. But, he grew up in West Auckland and feels like he's being pushed out and refuses to go. Understandable, but useless in the current climate. I understand that. It is forcing me to make sh*tty decisions and cry, a lot.
Aug 5th 2016, 8:13 am
#57
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Re: Has anyone done this/considered it
Watching the housing market from the sidelines, I would suggest that the safer option is to rent for the moment; you have plenty of time to consider buying in the future.
If you are only 2 years into your new business then you are still in a relatively high risk zone. I would suggest that it might be better to wait until you have been in for about 5 years and then review your situation. By that time you will know if you still have the long term energy and drive to keep expanding the business or if selling up might be an option to make your future more flexible.
If your long term relationship is in trouble then now is not the time to make irrevocable financial decisions. Perhaps move to a rental apartment in an area where you might like to buy in the future and concentrate on your business for a while.
As a footnote (which I am reluctant to add) I do wonder what financial obligations you may have to your (possibly soon to be) ex partner under NZ law. I think that if you both lived in an owned property you would have to split it. I have no idea if this also applies to business assets. So I would go one step at a time, and rationalise you life before committing to a major long term financial obligation through buying a property.
If you are only 2 years into your new business then you are still in a relatively high risk zone. I would suggest that it might be better to wait until you have been in for about 5 years and then review your situation. By that time you will know if you still have the long term energy and drive to keep expanding the business or if selling up might be an option to make your future more flexible.
If your long term relationship is in trouble then now is not the time to make irrevocable financial decisions. Perhaps move to a rental apartment in an area where you might like to buy in the future and concentrate on your business for a while.
As a footnote (which I am reluctant to add) I do wonder what financial obligations you may have to your (possibly soon to be) ex partner under NZ law. I think that if you both lived in an owned property you would have to split it. I have no idea if this also applies to business assets. So I would go one step at a time, and rationalise you life before committing to a major long term financial obligation through buying a property.
Aug 5th 2016, 9:04 am
#58
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Re: Has anyone done this/considered it
Understood, but 2 years ago I changed my entire career because what I was doing was neither my passion nor was it secure. I overhauled my entire life to get the job I wanted. I did exactly that. I went one step further and bought into the business I now love. I cannot work at home for this job, I cannot. So, I secured my job and then I was truly ready to look at property. Unfortunately, I was too late. Auckland had gone sky high and out of my price range. I just did everything back to front. I made a mess of it all and I'm now trying to scramble around to fix it. I honestly thought I was doing it all right and changing things as you said above to suit my happiness and lifestyle. And to echo what was said earlier, it feeds into my psyche that I'm a failure.
I think you are putting to much pressure on yourself and I note you say this would also lead to the end of your relationship. If you were not looking to buy would you still be ending your relationship? If so this is going to be making matters more difficult.
I would speak to a broker about your money situation and the best way forward to gain a foot on the property ladder.
