ost people (and its January so Christmas will have made this work) are living barely within their means, are trying to keep up with what they think everyone has

The Christmas holidays are a crazy time of year, where for two weeks or so all the normal rules go out the window and we eat too much, spends too much, and lose all our renovations.

I often get asked by first home buyers if building is a better option for them than trying to buy an existing house, based on a belief they will save some money, or that it’s easier. There can be advantages, but it’s not always easier or better.

It’s the Kiwi Obsession, what rate are you getting, is someone else cheaper, etc ad nauseam. And because rates have trended down till now (which will end at some point) people are more and more obsessed with how low they can go.

As you are getting closer to retirement, you need to make good decisions on your money, as the impact will hit you faster than if you are in your 20s. here are 3 mistakes that people nearing rearing retirement make.

Most mortgages in NZ are done with Mainstream banks, they have the capacity, and the structures to make it easy to sort. But there are also non bank mortgage lenders, who fit into 3 categories, prime, 2nd tier and specialist.

Buying your first home is exciting but there is a lot of information to take in, and it’s easy to get overwhelmed. Here are 3 common mistakes we see first home buyers making, and how to avoid them.

Maybe…

There are a few options out there if you have bad credit, ie you have a number of defaults or judgements on your personal credit file. We have certainly gotten people mortgages they never though they could get.

Fundamentally there is no difference between buying in summer and winter. Often there are less people out looking to buy when its colder, but conversely there are often less sellers as well.

For many people the mortgage is someone something they set and forget and the only time they really focus to it is when the refix is coming around and they're looking at the new rates.

There is a lot of talk that having lower interest rates means that people should look to buy houses now because the payments will be lower, and while it's true the rates are the lowest they've ever been the lower interest rates do not mean that you will be able to get a bigger mortgage.

If you own a house long enough you are likely going to need or want to do some work on it to keep it looking good. For small things you should be able to pay in cash, and ideally you should also save for larger renovations, but often if its going to be expensive, the only option is to increase your mortgage.

We often get asked what the difference is between us and the bank, why should the client not go directly to the bank? It’s a good question and I think it’s important that all advisers are able to articulate their point of difference.

It’s tempting as the weather gets worse to go on a holiday to somewhere warm. But for many of us, this ends up being on the card rather than in cash.

IAG (Not AIG, a very different company), the parent company of State, AMI and NZI has announced they are not offering new contents cover in Wellington anymore.

Budgeting sucks, you are basically agreeing to not have as much fun so you can be ‘responsible’. In the long run you know its better for you, but when has that helped.

Kiwis don’t seem to be fans of insurance, well life insurance anyway. Even though the concept is the same, kiwis tend to be open to house, car and contents cover than life cover. I think it has something to do with being able to touch the car and visualise it being damaged than being able to visualise the impact of cancer.

When buying a house it’s not just the deposit you need, but you also need to have money for the lawyer, and any reports you want such as the building report, valuation etc.

It’s a few days before Christmas and there is a good chance that you have overspent on presents, food and drink or travel etc, and it’s all building up to a headache in January.