Sandringham Living | August

SANDRINGHAM LIVING AUGUST

City Realty Group Page 1

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Sandringham | Living Magazine

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City Realty Group

CONTENTS .............................................................................. 04. Mortgage savings trick: Should you

use revolving credit for your salary?

.............................................................................. 06. Featured Property .............................................................................. 10. Local Feature .............................................................................. 12. Listings .............................................................................. 38. Support Local .............................................................................. 36. 7 ways to save more money and beat

the rising cost of living.

......................................................................... 45. Ray White Sandringham ......................................................................... 46. Meet The Team

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Sandringham | Living Magazine

Mortgage savings trick: Should you use revolving credit for your salary?

- Rupert Gough

This article was first published on OneRoof.co.nz and is republished here with permission.

City Realty Group

ANALYSIS: For many years, the strategy of putting your regular (weekly, fortnightly or monthly) salary directly into a revolving credit mortgage account has been common practice. When your employer deposits the income, your mortgage is effectively reduced by that much, thereby saving you money on interest.

With interest rates at all-time lows for the past few years, some mortgage holders have drifted away from this strategy; the savings simply didn’t make it worthwhile. With interest rates back up in the 5% range, it may be time to look at it again.

Let’s use an example where two people in the same household earn $70,000 each per annum. Assuming no other deductions (such as Student Loans), this couple has approximately $4,225 per fortnight arriving (net of tax) in their bank account.

Let’s assume their mortgage payment goes out every four weeks, the day before their salary is deposited in their account, meaning they get the full interest-reducing benefit of that money for (practically) the entire month. They also use credit cards with a standard 55-day interest-free arrangement for their expenses. This means that as long as they pay their credit card off regularly, they won’t pay any interest on their card.

If they pay off their credit card monthly, using the revolving credit account method, the couple uses their income to reduce the mortgage by between $4,225 and $8,450 throughout the year. For two weeks, they will have $4,225 in their account, and for the second two weeks (the second pay cycle), they will have $8,450. Just before the couple are paid again, the mortgage goes out, and they pay off their credit card.

With the fixed mortgage rates at roughly 5.5%, they are saving themselves around $348 over the year. Not an amount to be sneezed at but also worth considering whether all the extra arrangements are worth the hassle of what amounts to around $14 per fortnight.

Here are the risks with the revolving credit strategy: 1: If you don’t pay your credit card monthly, you will pay around 20% per annum on the debt - roughly four times the mortgage rates. So if you forget to pay the credit card once every four months, you’ve zeroed out the benefits.

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2: Check that your credit cards don’t have any annual fees.

Some credit cards have fees of a couple of hundred dollars per year, which would almost zero out the benefits of this strategy.

3: Check that your revolving credit account doesn’t have a fee. Some banks, by default, don’t have any fees, and some remove them for the first couple of years of your mortgage.

Any fee on your revolving credit will significantly reduce the benefit of this strategy. Ensure you check the bank doesn’t suddenly start charging you a monthly fee.

4: Set the credit card limit to, as a maximum, the amount of your salary minus your mortgage payments over the month.

This way, you won’t spend more than you are making, meaning you can always pay off your monthly credit card bill.

You can see that most of the risks around the revolving credit strategy involve using a credit card. You could simply attach an EFTPOS card to your revolving credit account, but this, assuming you were spending reasonably evenly across the pay cycle, would half the interest savings, taking the overall benefit for a couple earning a combined income of $140,000 per annum down to $174 per annum or $6.60 per fortnight.

Some personality types will like the revolving credit strategy, especially those who want to sort their spending into categories or “buckets”. It does, after all, save some money.

But it has the risk of bringing on what I like to call “The Tesla Effect”. That is, you buy an electric car and claim to be doing all you can to help climate change. In this instance, you have your salary deposited into your revolving credit account and claim to be “on top of your finances”. If the most significant leak in your budget is a $14 per fortnight additional interest cost, you are most certainly on top of your finances. But I suspect, for most homeowners faced with rising interest rate costs, you could look at your overall budget and find much bigger expenses that could be reduced. In other words, use the revolving credit strategy but don’t rely on it as a life-changer even at these higher interest rates.

- Rupert Gough is the founder and CEO of Mortgage Lab and author of The Successful First Home Buyer.

FEATURED PROPERTY

49A BUSCOMB AVENUE, HENDERSON

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City Realty Group

A home for ALL seasons!

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Enjoy peace of mind with a modern finish at this well cared for residence.

semi-ensuite, plus two more bedrooms and a study serviced by a family bathroom.

Impressive both inside and out, this spacious home is situated on a 464sqm (more or less) section.

Internal access garaging and off street parking complete the picture.

On the lower level, you will enjoy a contemporary open plan living environment equipped with a sundrenched kitchen and a lounge/dining area that leads out to a delightfully private deck.

You are only a stroll to the various bus stops and motorway onramps are a short drive away.

On the upper floor, there is the master bedroom, with

Pim Pimpinid 021 965 424 pim.pimpinid@raywhite.com

Put this home at the very top of your ‘must see’ list this weekend!

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Sandringham | Living Magazine

49A BUSCOMB AVENUE HENDERSON

Auction (unless sold prior) 4:00pm, 24 August In Rooms: 4E Kitchener Road, Sandringham

City Realty Group

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LIVING LOCAL. SUPPORTING LOCAL.

Top: Miann Chocolate Above: Chocolate Making Right: Cafe

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City Realty Group

“We can pick a cacao that suits the dessert, be it nutty, fruity, floral. All in all its a pastry chefs dream.”

Founded by international pastry chef brian campbell and wife roselle, miann is a luxury dessert restaurant offering unique desserts, sumptuous patisserie and magnificent sweets. With a menu that extends from fine handmade chocolates to dessert degustations, delicate macarons to decadent waffles and specialty cakes, there is something for everyone at miann.

Miann chocolate factory is a beanto-bar chocolate factory in the morningside suburb of auckland, nz. “ We opened our workshop to create our own chocolate for our Miann Patisseries based in Britomart, Fort Street and Morningside, to create something uniquely our own and to create beautifully crafted chocolate bars which we now sell in all our stores. We use all our chocolate in our Cakes, Gelato, Bonbons and more. So if you’ve had a Chocolate treat from any of our stores, the chocolate was hand made in Morningside.

In early 2018, we decided to jump in the deep end and create our own range of chocolate. Currently, in our little factory we roast, crack, sort, winnow, grind, conch, and temper small batches of beans and then mold and package each bar by hand. By sourcing high quality beans and carefully crafting tiny batches, we try to bring out the individual flavors and nuances of each bean.

We source our Beans from all over the world from far flung places such as Peru, to Madagascar, Tanzania, Vietnam to places a little closer to home like Fiji. All our Cacao Beans are ethically sourced for there quality. ”

The best chocolate you can get.

Miann Chocolate Factory 14 McDonald Street, Morningside

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City Realty Group

Latest Listings to Love

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1105/17 Putney Way, Manukau

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This top-floor two bedroom apartment offers a functional modern kitchen which leads through to open-plan living that is light, bright, and welcoming. Enjoy skyline views during the day and the twinkling of lights at night - this is high-rise living at its best.

Tracey Potter 021 263 0445

29 Haverstock Road, Sandringham

Land: 589m2

Savvy investor wanted! This pancake flat, freehold and fenced section is just waiting for the new owner to come along with a vision for it’s future. After 41 years with the same look, this is a beautiful picture just waiting to be painted.

Adam Humphris 021 063 7043 | Mike Butler 027 707 4321

48 Waterside Drive, Pyes Pa, Tauranga

Land: 830m2

Large 820m2 (mol) north facing section situated in the heart of this sought-after community. With local cafes, playgrounds, schools, and shops this really is a great opportunity. Build your dream home and settle the family!

Susan Woods-Markwick 021 520 290 | Petrina Gavin-Egan 027 385 5914

30 Te Otinga Place, Pyes Pa, Tauranga

Land: 720m2

What a great building platform, elevated 720m2 (mol) section with great views. Desirable subdivision with established homes around you in this sought-after community, with local playgrounds, cafes, shops and school.

Susan Woods-Markwick 021 520 290 | Petrina Gavin-Egan 027 385 5914

154B Henderson Valley Road, Henderson Valley

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Convenient living is the word here with everything on your door step, great schools, shops, parks and much much more. If you are looking for that great family home on a easy care section then this is the one for you!

Adam Humphris 021 063 7043 | Mike Butler 027 707 4321

12a Battersby Avenue, Mt Roskill

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Stand-alone, with an expansive section and generous living spaces, this is a home where you can truly live a little. Kids can burn off some energy outdoors, with room to kick a ball around and play a bit of cricket. If it’s your fur baby you’re looking to spoil, then the fully fenced backyard gives them an incredible haven to enjoy whilst you’re at work.

Josh Lowe 021 188 8991 | Bryce Taylor 021 273 3990

B408/176 Broadway, Newmarket

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Low maintenance and secure, you will love the convenience and ease of apartment living with this immaculate unit offering you two generous bedrooms (master with en-suite and second with semiensuite), plus a contemporary open plan living environment with a modern kitchen.

Emily Hu 027 530 5978

5 Gifford Avenue, Mount Roskill

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This deceased estate will be sold. Terraced Housing and Apartment Zone. Will you Bid? Please do ignore the CV. This is an almost original home with 3 - 4 bedrooms. This could be your bargain day.

Don’t forget that the Murray Halberg Park is right next door and the property is very close to Wesley Primary, Intermediate and Mt Roskill Grammar.

Diane Goer 027 241 7297

9/176 Panama Road, Mount Wellington

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Contemporary and chic and sure to pique the interest of first-time buyers, downsizers or investors where lock and leave appeal combines with a funky 70’s retro feel.

Alastair Hubbard 021 0221 5939

2/325 Mt Albert Road, Mount Roskill

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This freshly renovated unit provides ample opportunity to get into a well-equipped unit of your own in 2022, complete with: Two double bedrooms with wardrobes, Spacious kitchen with all the mod cons, flowing to an open plan dining space, Separate lounge space, One full sized bathroom, Plus extra guest toilet and laundry space, Multiple storage cupboards - with plenty of room to store everything away, Fenced exclusive use outdoor area ready for entertaining, One off-road car park, behind a gate.

Sunny Sareen 021 064 7171

38 Gilletta Road, Mount Roskill

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Owner must reluctantly sell this unique one of a kind home known as “The Boathouse”. Five bedrooms (two upstairs and three downstairs). Three bathrooms including one ensuite

Susan Woods-Markwick 021 520 290 | Petrina Gavin-Egan 027 385 5914

14 Cotesmore Way, Parnell

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Leasehold | Recently renovated which includes brand new appliances in the kitchen. | 115m2 of living area, internal access one car garage plus a generous balcony facing North which leads off the living area so is ideal for entertaining friends.

Sue Holland 021 227 0087

C714/176 Broadway, Newmarket

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This well-maintained apartment offers you an open plan living environment, 2 roomy bedrooms, a spotless bathroom plus the added bonus of a covered car park.

Emily Hu 027 530 5978

16/42 Holly Street, Avondale

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Take advantage of the new lending requirements 5% deposit as a first home buyer. | Freshly renovated terraced townhouse. | Situated in a private, quiet enclave. | 127m2 floor area.

Susan Woods-Markwick 021 520 290 | Petrina Gavin-Egan 027 385 5914

2 Septimus Place, Henderson

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Live, land bank or develop are just a few of the amazing opportunities here. This property provides a huge amount of family living in the main home with a fully separate and self contained one bedroom minor dwelling as a secondary income.

Adam Humphris 021 063 7043 | Mike Butler 027 707 432

D706/176 Broadway, Newmarket

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This freehold apartment is located in Central Newmarket, also in the highly sought-after Double Grammar Zone. Situated in level 7 with a beautiful view of Newmarket central. Good floorplan with 2 bedrooms and 2 bathrooms. 1 Secure car park included.

Emily Hu 027 530 5978

3/9 Begbie Place, Sandringham

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You’ll love the convenience and ease of duplex-style living... The home was recently redecorated from head to toe offering a comfortable ‘worry free’ lifestyle, and you’ll be delighted to discover that every box is ticked.

Dan Luo 027 668 8198

5A Puka Street, Onehunga

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If you are in the market looking for a single level, low maintenance home, with its very own sunny courtyard, this should be on your “must see”,” must buy” list.

Peter Akeroyd 029 525 0800 | Ivan Koulin 027 485 0876

1F/118 Gladstone Road, Parnell

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One bedroom, ground-level apartment with 55m2 of living space plus two balconies - one facing North and the other West to enjoy all day sunshine throughout the year. The Gladstone Apartment building has recently completed an exterior upgrade and a Code of Compliance Certificate has been issued.

Sue Holland 021 227 0087

6/130A Balmoral Road, Mount Eden

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Built in an era when solid and dependable was the norm, it had been well maintained continuously.

This one bedroom unit in block A offers an open living and dining space that flows out onto a sunny terrace.

Peter Akeroyd 029 525 0800

167 Russell Road, Manurewa

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Don’t miss out on these brand new freehold townhouses - ‘No Body Corporate or Society Charges.’

Construction is well underway with completion due for June 2022. Titles have been issued.

Sunny Sareen 022 064 7171

2206/10 Commerce Street, Auckland Central

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This stunning 103m2 (approx) brand new freehold apartment completed in January 2021 is located on the 22nd floor and offers amazing views over the harbour and central city. The large living area is light, roomy, and also enjoys the views. Recharge and relax away with a decent red and a book in the additional study nook.

Pim Pimpinid 021 965 424

5/39 Woodward Road, Mount Albert

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This solid brick unit is sure to pique the interest of first-time buyers, downsizers, or investors where the lock and leave appeal combines with a funky 70’s retro feel. Great for couples of all ages, and life phases, featuring two good-sized bedrooms, sunny living, separate kitchen, and separate carport.

Emily Hu 027 530 5978

6D/56 Liverpool Street, Auckland Central

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The Q Central complex is known for providing high-yield returns for smart investors. Positioned on Liverpool Street just off the top of Queen Street it’s a winner for the University student rental market.

There’s a flourishing community that has discovered its great value. You’ll have to be in quick!

Pim Pimpinid 021 965 424

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City Realty Group

Two of Auckland’s arterial roads, running parallel to each other, host two of the city’s most vibrant food communities. Separated by barely half a mile, Sandringham Road’s hub of South Asian cuisine is matched only by Dominion Road’s strip of East Asian eateries, the closest thing Auckland has to a Chinatown.

Restaurants in these areas regularly pop up, flare in popularity, move or disappear. Many others, though, are stalwarts that have stood the test of time, becoming favorites for solo weeknight dining or chaotic, large-group “BYOs” — gatherings where diners bring their own drinks.

New Flavour Finding a good meal after 10 p.m. in Auckland is a tough ask, which is why taxis full of hungry revelers routinely journey to this strip of Dominion Road in the wee hours.

O U R F A V O U R I T E S

The Capitol Cinema Most moviehouses in Auckland are chains, but the single-screen Capitol is a standout exception. Its imposing neo-Greek facade, which dates to 1923, is equaled within by its dark-wood lobby and purple velour theater seats.

Kiss Kiss The design, inspired by video games and dollar stores, and the long communal tables make dining at Kiss Kiss feel like being at an exclusive theme party — with excellent Thai food.

Shubh The takeaway counter at Shubh offers the best value in Auckland: containers of Punjabi curries stacked alongside bags of naan and roti.

Potters Park During World War II, Potters Park was a garden whose produce sales raised funds for servicemen and their families.

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7 ways to save more money and beat the rising cost of living.

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City Realty Group

Prices are rising fast for many goods and services, so it’s never been more important to economise.

With that in mind, here are seven things you can do to save money without seriously affecting your quality of life.

New Zealand’s inflation rate has reached 7.3%, the highest level in 32 years, according to the most recent data from Stats NZ. With prices rising for many goods and services, it’s never been more important to economise. So here are seven things you can do to save money without seriously affecting your quality of life: 1. Track your expenses.

Read your bank and credit card statements, to find out how much non-essential spending you’re doing, and on what. You might be shocked by the results – a lot of people are. This will help you identify areas where you could reduce spending without much effort. If you save $100 per month, that’s $1200 per year.

4. Cancel unnecessary subscriptions.

If you have a subscription plan you regularly use, it’s probably giving you value for money. But if you have a plan you rarely use – whether for TV, food or fitness – it’s probably a waste of money. Cancelling subscriptions could be an easy way to save $50 per month or $600 per year.

5. Unsubscribe from marketing emails.

While you’re cancelling things, it might be a good idea to unsubscribe from all those tempting ecommerce emails you receive, so you make fewer impulse purchases. That could help you save $100 per month or $1200 per year.

6. Holiday in NZ. No one could blame you for wanting to take advantage of the reopened border and fly overseas.

But what if, just this once, you spent $2000 exploring New Zealand’s incredible local attractions rather than $5000 on an overseas adventure?

2. Bring your lunch to work.

7. Refinance to a lower-rate loan.

A home-cooked lunch might cost you $3, compared to a cafe meal that might cost $15. That could save you $60 per week or $2,880 over the course of a 48week work year.

If it’s been at least two years since you took out your mortgage, there’s a good chance you could find a comparable home loan at a lower interest rate. Refinancing could potentially save you tens of thousands of dollars over the life of your loan.

3. Use comparison websites.

If you shop around, there’s a good chance you could find electricity, internet, phone and insurance plans that are similar to what you’re already on, but cheaper.

A collective saving of $80 per month would translate to $960 per year.

If you’d like to refinance to a lower-rate home loan, I can compare lenders and loans on your behalf. Get in touch to discuss your options.

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Open Doors.

Open Minds.

City Realty Group

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City Realty Group

RAY WHITE SANDRINGHAM WHY CHOOSE US?

The Ray White Sandringham office services our classic character suburbs.

Ray White Sandringham is based at the heart of our communities who form Auckland’s central suburbs.

We are a team of dedicated professionals who understand this unique market and are experienced in all property types – whether it’s for a first home, family home or an investment property. As central suburbs become more established with infrastructure, development, investment and identifiable neighbourhoods we are in the right location and frame-of-mind to provide market leading advice with our focus on people and property.

City Realty Group – our parent – also has a strategic partnership with Loan Market, connecting clients with experienced brokers to provide home, construction, refinancing, self employed and vehicle loans.

Commitment

Hard Work

Loyalty

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MEET THE TEAM Sandringham Management

Daniel Horrobin Director 021 595 976

Nick Fistonich Branch Manager 021 146 2720

Cameron Brain Auction Manager 027 424 1782

Vikas Verma General manager 021 625 178

Amy Tsai Licensee Salesperson

Bryce Taylor Licensee Salesperson

Delanie Horrobin Gina Colcord New Business Manager Head of Property Management Property Management 029 770 8109 021 973 927

Residential Sales Team

Adam Humphris Licensee Salesperson

Alastair Hubbard Licensee Salesperson

Diane Goer Licensee Salesperson

Dan Luo Licensee Salesperson

Josh Lowe Licensee Salesperson

Kate Jiang Licensee Salesperson

Emily Hu Licensee Salesperson

Lauren Indrisie Licensee Salesperson

Bruce Anderson Licensee Salesperson

Daniel Chen Licensee Salesperson

Hugh Free Licensee Salesperson

Ivan Koulin Licensee Salesperson

Jackie Zhang Licensee Salesperson

Michael Oh Licensee Salesperson

Mike Butler Licensee Salesperson

Nancy Chen Licensee Salesperson

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City Realty Group

Pat Taylor Licensee Salesperson

Peter Akeroyd Licensee Salesperson

Simon Lee Licensee Salesperson

Sunny Sareen Susan Woods-Markwick Tracey Potter Licensee Salesperson Licensee Salesperson Licensee Salesperson

Yuhei Umezaki Licensee Salesperson

Petrina Gavin-Egan Licensee Salesperson

Pim Pimpinid Licensee Salesperson

Pupal Patel Licensee Salesperson

Tim Cai Licensee Salesperson

Sue Holland Licensee Salesperson

Wendy Cai Licensee Salesperson

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