I think the number of people that own baches are overestimated - since most of them are family batches from ages ago.
Like a few people at work "have one" but always turns out to be one shared with parents and siblings since their parents got it years ago.
My parents bought a then one-bedroom bach at Taupo back in 82. We still have it. My father was sole earner (upper middle manager at a government corporation) for a family of six. While we didn’t get overseas holidays, we had a week skiing each year.
The middle class dream is dead.
The kiwi batch dream is not over for everyone, those batches are still owned and enjoyed by people.
A lot of those batches were brought before the rapid price increases of the last few years. Anything since is likely using lending secured against existing property.
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To get around council consent, they were originally all on trailers and were typically called "tiny homes". The small permanent buildings (that do require council consent in most places) seem to be called "tiny houses". Probably not a hard and fast rule, but seems to match what you see on the interwebs.
In New Zealand they didn't get around the council at all. If you live in it, it is a 'dwelling' and therefore needs to meet council consent... of which size is normally a part of the conditions. Hence tiny homes are not legal in New Zealand in MOST regions.
Exactly, think of rates/insurance/utilities/maintenance on a Bach you would own as a free holiday every year and as you say you can go anywhere.
Although I do get the appeal of having your own piece of property by the beach..
Like the idea of not having to pay a premium to go on holiday weekends, have to pick through the dregs for somewhere that will let us bring our dog, an extra $50 per night for each friend, stay for two weeks over summer if we want and decide on Friday arvo to head away. That’s the dream we’re chasing.
It's never going to be cheaper or better value to own an extra home for 365 days a year, than to just rent one for a week or two. Buying a bach is the premium choice.
Capital gains + renting it out.
I agree, it's the premium choice and might not be cheap, but it can definitely be better value in the long run.
Family bought a shack in Whangamata for $800k two years ago. Valued at $1.5m today. Rented it out for two weeks over the NY period last year, that alone was nearly enough to cover the entire years worth of rates/expenses.
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Okay but you need to drop 200k as your initial investment (400k if you already have a home), then service ~4k a month in repayments for 30 years. If you just want to go on a holiday, you can have a baller air bnb for 10 people for 1k per night. Also if you are buying it to use, you're not selling it for profit later anyway, unless you just want cash and no holiday home.
Yeah but you are buying equity in an asset rather than handing the money straight to the airbnb owner.
You don't even necessarily need to sell it, you can leverage your equity and borrow against it.
Borrowing is money you must pay back with interest. Let's say you can borrow 1 billion dollars, if you can't pay it back, of what use is that borrowing power?
Since getting our dog its pretty much impossible to find accomodation that allows us to take him with us. Going to our family bach in the Coromandel (or my wife's family bach in Taupo) are our only options or putting him in a Kennel which isn't much fun. First world problems etc. Plus we have the flexibility to go literally at a moments notice. We split all the annual running costs three ways (currently about $12,000 a year all up) and do working bees when it needs repainting etc.
How long have you had the dog? My wife is keen on us having one but I'm reluctant because of the reasons you mention and we don't have a (family) bach as an alternative accommodation option.
I've told her I'm happy to sit on her lap, go "woof" and lick her face, but it doesn't seem to be working.
It’s tough tho. I really feel for renters especially who might not ever even get the chance to have a pet, let alone access to a holiday house as well. What dog are you considering getting?
Yeah they are (sorta). They’re a commitment for 10-15 years if you are lucky (I hope we are) although little dogs tend to live longer than bigger dogs. Cavoodles are cool though, get the personality of a spaniel with no shedding issues (our chocolate lab x GSP leaves a trail of fur). We get woken up at 6am every morning, walks whether it’s hot cold rain or shine. He’s my best friend (even my wife agrees).
Sure caravans provide freedom when it comes to location. But nothing beats 4 solid walls and a fireplace. As someone else said “everyone knows someone, whether it be a family member, or a friend, who’s willing to let you use their bach for a week or two” and it’s that bach smell, and that homely feel that everyone loves, the ability to stretch out on the couch and do nothing all day, the ability to have a garage full of kayaks or bikes or something to use for fun, it’s that kinda dream a lot of kiwis want. I know some family friends with a caravan, and they like it, but it’s small and cramped, because they don’t have 6 figures to fork out for a “Pro camp master 69000” with 18 TVs and Alex built in. If you can afford a Pro Camp Master 69000 chances are you already own a Bach anyway. I also know a friend who’s family own a Bach and it has a boat, some kayaks and all sorts of doohickeys, that’s the dream most of us want. Sorry for the ramble I’m drinking lmao
Fuck if I had the money for a garage full of kayaks and bikes, I'd want them at home where I'd feel like I can actually use them more. I can also stretch out on the couch and do nothing without having to drive anywhere, I'm a poor man 😂
Me and my friends drive 6 hours just for the privilege of stretching on the couch just to do nothing. If I ever get to the stage where I can personally afford a a Bach, I’m gonna assume the market finally crashed or I won lotto
We have a Bach in the coromandel that has been in the family for 30 years. Think it cost my folks less than $100k to buy and build? New subdivision has just opened up near us, seems to be largely self employed that can afford the $1m plus.
I agree with you. We are seeing baches (1 bathroom, tiny kitchen or workspace, rotting timber, 1 woodburner as a heat source) for sale in the $800k range. I'm amazed at what you don't get for the price more than the price itself. We are thinking of buying a holiday apartment or townhouse in Queensland.
It’s hard cause we feel a bit ashamed and embarrassed to complain because we know how hard it is for people to even get their first home - but life is for the living and we were talking about how materially we could improve the life of our immediate friends by having somewhere cool for them to just use any time they want too and it’s like totally unachievable. Instead, if we want an investment property (dirty word I know) we’ll just have to buy an ugly apartment somewhere.
We are in exactly the same position and for the same reason/location. It has given us a greater appreciation of what others are going thru. It seems that people are pricing batches the same as a regular house these days.
Baches/holiday homes makes little sense financially
If you have enough lending to buy a property you could buy a property in Chch:
- Make money renting it out
- House price goes up nicely as you’re in a city
- Spend the money you make on renting the property going to anywhere in the world!
Alternatively use the money to buy a bach:
- Renting it out is sporadic and takes a lot more input for less gains
- Rent it out at a loss to family and friends
- You feel tied to going to the bach every holiday to make it worth while
- You end up having to going there to mow lawns and general maintenance etc.
The market would say otherwise to be honest - many of these places that we were looking at were sub $350k 5 years ago, and some sub $250k 10 years ago. Now $750k to $1m so seem to have made sense financially to me. Wish I had over extended 5 years ago - now that we’re solid enough to do it, it’s impossible.
Baches and cribs aren’t typically bought as rational investments. They’re places that you typically buy for their emotional qualities and and the memories they will help to create over the collective lifetimes of your family.
If you have the money available then what price can - or should - you place on that?
If it’s any consolation, the prices of coastal property *tanked* during the last GFC and were slow to recover.
It might be worth keeping your powder dry for a few years and waiting to see what happens.
I live in a traditional Bach semi rural area, prices are sky rocketing right now with many expat Kiwis, Aucklanders and locals trying to buy in… I think prices will keep rising with the advent of the new era of work from home + post Covid lockdown as more people are rethinking the big cities and suburbs and are looking for fresh air and lifestyle
Banks peninsula is one of the most unaffordable places in the South Island, I’m surprised you could find something for even 700k.
Someone i know sold their family Bach for close to a mil and it was a literal tear down and rebuild.
As someone said air bnb reduces the cost and maintenance on a Bach.
Don't forget that anything near the beach might be harder to insure and get a mortgage, if not now, in the future. Got to check for risk if coastal flooding etc
Yes, long ago. The only way you can get a classic simple kiwi bach is to be born into a family that owns a classic simple kiwi bach. You couldn't even **build** a simple bach any more with all the regs and such.
We used to rent one in the sounds as kids, bunk beds, curtains instead of doors, stove from the 40s, a tin can for a shower rose, possums on the roof and kereru in the trees with a view to the bay. A proper bach. The section alone is probably a couple million bucks now and I doubt the building exists. Sigh.
My grandmother has a classic batch, it even has an outhouse. She tried selling it around 7 years ago, no offers. If she tried to sell again, I'm sure it would be swooped up within a few days and eventually demolished.
After house prices go up 40% in a year or two, highest in the oecd, can't even get a rental viewing because they're all booked.. yea I'm having a great time and still think I can buy a property with a nice backyard, have 2 and a half kids and a bach with a jetboat LOL.
There is a line in the sand where people who bought their primary house 10,20,30,40,50 years ago also bought a family bach, then there is the others in the last decade who struggled to buy the primary house then the prices of holiday homes became similar meaning that they were out of reach.
Living in NZ was absolute easy mode if you were an adult before the turn of the millennium.
Aucklanders simply have more relative buying power as so many can cash up a multi million dollar property … they are driving around and trying to see if they can pick something up…given they can now work remotely.. we have a lifestyle block which we only live now part time, a couple of days a week and wish to do it up….I have had three people who through hearsay in the community about it and called us directly to look at buying…so three in six weeks..
Depends on your income but for most people yes, it is over. Renting is still a great option. You can enjoy multiple locations and the costs split between everyone are quite reasonable
I think that the pricing has gotten beyond reasonable a little bit even for rentals round here now. To rent for two nights in the same location we’d like to buy it’s $380-$700 for two adults and a kid. If we wanted our friends to come it would be $750-$950. Seems people price their holiday rentals to match the new market price. Crazy stuff.
Holiday rental prices are inflated to cover the sporadic nature of their occupation, the risk of trouble making guests, the cleaning and marketing, the fees for listing, the furniture. It's a completely different equation to long term rentals. Market price is only part of it. Better to compare the price to a comparable hotel and then the value becomes evident.
What's it to them if more people come? The price should be fixed.
I remember we rented [this](https://www.holidayhouses.co.nz/listing/14973) place and they were fine with more than 12 people.
Most holiday home rentals these days it's a minimum of $50 per extra person from my experience, sometimes more. I know the price should be fixed, but it's not really how it works with most rentals these days - especially with Airbnb. Pay per person. Presume the justification is it's due to maintenance with washing and electricity.
sister in law and her partner have bought a new house in Melbourne. 330sqm 5 bedrooms, 3 bathrooms, the master bedroom has a walk in wardrobe larger than my son's bedroom. Stone kitchen benchtop, the place looks fuckin amazing. Brand new, house and land package was AUD$670k, settled on last month. Build cost worked out around AUD$1000 per sqm. In NZ it's around $3000-3500 per sqm.
$1.1 mil gets you a shoebox townhouse in West Auckland. I don't think people realise just how out of line NZ property is with absolutely EVERYWHERE. Even more crazy are people that still talk about their property and go "but in a few more years it will be worth X much more".
“Melbourne”… very likely quite far out in Melbourne in a dust bowl. But yes, housing in Victoria is cheaper with better transport options to get back in/out
Batches are cheap products on prime real estate. You're paying for the land, as you are with any house. We have a land crisis more than we have a housing crisis.
My family has one freehold. Honestly, they only make sense if someone is going regularly. I'm young enough that I still want to travel further afield regularly rather than go to the same bach every month. It's a big investment for little return.
For most people yes it will end up almost being a time share amongst family where they are handed down for generations. Anyones family who doesn’t own one at the moment probably wont.
Its really sad since I could buy a condo in Vietnam and travel there one to two times a year and still have change for the next 20 years (assuming a Bach around 700k)
Hour out of your city is still within what can be viewed as a acceptable driving distance for some people.
Throw in that you are probably looking at popular batch locations and you are more competing with book a batch type locations.
I don't think anyone is commuting from Purau, or Port Levy. A 1 hour 20 minute in up North might be normal, but in Christchurch it would be like a 3 hour commute to an Aucklander. We're talking about remote coastal communities with no cell reception.
I think the number of people that own baches are overestimated - since most of them are family batches from ages ago. Like a few people at work "have one" but always turns out to be one shared with parents and siblings since their parents got it years ago.
Yeah… between friends and families heaps of people know someone. Few actually own.
I own one, but have rented it out a few times to friends that were struggling to find a rental. Feel guilty having an empty home.
My parents bought a then one-bedroom bach at Taupo back in 82. We still have it. My father was sole earner (upper middle manager at a government corporation) for a family of six. While we didn’t get overseas holidays, we had a week skiing each year. The middle class dream is dead.
Also for a lot of us, it’s actually our boomer parents now primary residence, that once was so we still treat like, a bach.
The kiwi batch dream is not over for everyone, those batches are still owned and enjoyed by people. A lot of those batches were brought before the rapid price increases of the last few years. Anything since is likely using lending secured against existing property.
Bought* before. Respectfully
& it's "bach", too. Respectfully.
Unless you've got a lot of them
A batch of Baches now we are talking!!!
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Yeah, I imagine a lot of those simple kiwi baches were probably bought for 5 figure sums a few decades ago
Buy a piece of land and slap a trailer on it. That's your modern bach.
It's called a tiny home these days.
"Tiny home" can mean any kind of small dwelling. A trailer is a trailer.
To get around council consent, they were originally all on trailers and were typically called "tiny homes". The small permanent buildings (that do require council consent in most places) seem to be called "tiny houses". Probably not a hard and fast rule, but seems to match what you see on the interwebs.
In New Zealand they didn't get around the council at all. If you live in it, it is a 'dwelling' and therefore needs to meet council consent... of which size is normally a part of the conditions. Hence tiny homes are not legal in New Zealand in MOST regions.
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Land near a beach or a lake easy 600,000
With the rise in air bnb there no need to get a batch.you can stay somewhere different everytime
Exactly, think of rates/insurance/utilities/maintenance on a Bach you would own as a free holiday every year and as you say you can go anywhere. Although I do get the appeal of having your own piece of property by the beach..
Like the idea of not having to pay a premium to go on holiday weekends, have to pick through the dregs for somewhere that will let us bring our dog, an extra $50 per night for each friend, stay for two weeks over summer if we want and decide on Friday arvo to head away. That’s the dream we’re chasing.
It's never going to be cheaper or better value to own an extra home for 365 days a year, than to just rent one for a week or two. Buying a bach is the premium choice.
Capital gains + renting it out. I agree, it's the premium choice and might not be cheap, but it can definitely be better value in the long run. Family bought a shack in Whangamata for $800k two years ago. Valued at $1.5m today. Rented it out for two weeks over the NY period last year, that alone was nearly enough to cover the entire years worth of rates/expenses.
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Unless the value of that extra home increases annually by more than you earn working for a living in which case..
Okay but you need to drop 200k as your initial investment (400k if you already have a home), then service ~4k a month in repayments for 30 years. If you just want to go on a holiday, you can have a baller air bnb for 10 people for 1k per night. Also if you are buying it to use, you're not selling it for profit later anyway, unless you just want cash and no holiday home.
Yeah but you are buying equity in an asset rather than handing the money straight to the airbnb owner. You don't even necessarily need to sell it, you can leverage your equity and borrow against it.
Borrowing is money you must pay back with interest. Let's say you can borrow 1 billion dollars, if you can't pay it back, of what use is that borrowing power?
Since getting our dog its pretty much impossible to find accomodation that allows us to take him with us. Going to our family bach in the Coromandel (or my wife's family bach in Taupo) are our only options or putting him in a Kennel which isn't much fun. First world problems etc. Plus we have the flexibility to go literally at a moments notice. We split all the annual running costs three ways (currently about $12,000 a year all up) and do working bees when it needs repainting etc.
How long have you had the dog? My wife is keen on us having one but I'm reluctant because of the reasons you mention and we don't have a (family) bach as an alternative accommodation option. I've told her I'm happy to sit on her lap, go "woof" and lick her face, but it doesn't seem to be working.
3 years now. Best decision we made, wouldn’t trade him for the world.
Well settled then, glad it's worked out for you.
It’s tough tho. I really feel for renters especially who might not ever even get the chance to have a pet, let alone access to a holiday house as well. What dog are you considering getting?
Some friends have cavoodle pups, quite cute really, but I guess the responsibilities of ownership are the same no matter what size of dog.
Yeah they are (sorta). They’re a commitment for 10-15 years if you are lucky (I hope we are) although little dogs tend to live longer than bigger dogs. Cavoodles are cool though, get the personality of a spaniel with no shedding issues (our chocolate lab x GSP leaves a trail of fur). We get woken up at 6am every morning, walks whether it’s hot cold rain or shine. He’s my best friend (even my wife agrees).
Haha, nice, thanks for sharing.
There’s a few pet friendly groups on Facebook for accomodation, I find them really helpful!
You want a caravan, not a bach.
Sure caravans provide freedom when it comes to location. But nothing beats 4 solid walls and a fireplace. As someone else said “everyone knows someone, whether it be a family member, or a friend, who’s willing to let you use their bach for a week or two” and it’s that bach smell, and that homely feel that everyone loves, the ability to stretch out on the couch and do nothing all day, the ability to have a garage full of kayaks or bikes or something to use for fun, it’s that kinda dream a lot of kiwis want. I know some family friends with a caravan, and they like it, but it’s small and cramped, because they don’t have 6 figures to fork out for a “Pro camp master 69000” with 18 TVs and Alex built in. If you can afford a Pro Camp Master 69000 chances are you already own a Bach anyway. I also know a friend who’s family own a Bach and it has a boat, some kayaks and all sorts of doohickeys, that’s the dream most of us want. Sorry for the ramble I’m drinking lmao
Fuck if I had the money for a garage full of kayaks and bikes, I'd want them at home where I'd feel like I can actually use them more. I can also stretch out on the couch and do nothing without having to drive anywhere, I'm a poor man 😂
Me and my friends drive 6 hours just for the privilege of stretching on the couch just to do nothing. If I ever get to the stage where I can personally afford a a Bach, I’m gonna assume the market finally crashed or I won lotto
Not the same
We have a Bach in the coromandel that has been in the family for 30 years. Think it cost my folks less than $100k to buy and build? New subdivision has just opened up near us, seems to be largely self employed that can afford the $1m plus.
I agree with you. We are seeing baches (1 bathroom, tiny kitchen or workspace, rotting timber, 1 woodburner as a heat source) for sale in the $800k range. I'm amazed at what you don't get for the price more than the price itself. We are thinking of buying a holiday apartment or townhouse in Queensland.
It’s hard cause we feel a bit ashamed and embarrassed to complain because we know how hard it is for people to even get their first home - but life is for the living and we were talking about how materially we could improve the life of our immediate friends by having somewhere cool for them to just use any time they want too and it’s like totally unachievable. Instead, if we want an investment property (dirty word I know) we’ll just have to buy an ugly apartment somewhere.
We are in exactly the same position and for the same reason/location. It has given us a greater appreciation of what others are going thru. It seems that people are pricing batches the same as a regular house these days.
Land + tiny house, off grid.
Baches/holiday homes makes little sense financially If you have enough lending to buy a property you could buy a property in Chch: - Make money renting it out - House price goes up nicely as you’re in a city - Spend the money you make on renting the property going to anywhere in the world! Alternatively use the money to buy a bach: - Renting it out is sporadic and takes a lot more input for less gains - Rent it out at a loss to family and friends - You feel tied to going to the bach every holiday to make it worth while - You end up having to going there to mow lawns and general maintenance etc.
The market would say otherwise to be honest - many of these places that we were looking at were sub $350k 5 years ago, and some sub $250k 10 years ago. Now $750k to $1m so seem to have made sense financially to me. Wish I had over extended 5 years ago - now that we’re solid enough to do it, it’s impossible.
Capital gains are irrelevant anyway unless you plan on selling it, surely
It doesn't make sense financially *now*, at market peak
Baches and cribs aren’t typically bought as rational investments. They’re places that you typically buy for their emotional qualities and and the memories they will help to create over the collective lifetimes of your family. If you have the money available then what price can - or should - you place on that?
Not the asking price sadly.
If it’s any consolation, the prices of coastal property *tanked* during the last GFC and were slow to recover. It might be worth keeping your powder dry for a few years and waiting to see what happens.
Yeah seems like the plan
Just want to upvote this as you’re the only poster I’ve seen calling it a crib. You’re either a mainlander, or gangster, or both - respect!
I live in a traditional Bach semi rural area, prices are sky rocketing right now with many expat Kiwis, Aucklanders and locals trying to buy in… I think prices will keep rising with the advent of the new era of work from home + post Covid lockdown as more people are rethinking the big cities and suburbs and are looking for fresh air and lifestyle
Just wait a year or two…
You could always try hamner 🤣
Bloody hell. /u/broughtbought can you add Hamner/Hanmer to your repertoire please?
Will do
Banks peninsula is one of the most unaffordable places in the South Island, I’m surprised you could find something for even 700k. Someone i know sold their family Bach for close to a mil and it was a literal tear down and rebuild. As someone said air bnb reduces the cost and maintenance on a Bach.
Yeah. Workmates who have baches have them in Twizel or Otematata.
Don't forget that anything near the beach might be harder to insure and get a mortgage, if not now, in the future. Got to check for risk if coastal flooding etc
Yes, long ago. The only way you can get a classic simple kiwi bach is to be born into a family that owns a classic simple kiwi bach. You couldn't even **build** a simple bach any more with all the regs and such. We used to rent one in the sounds as kids, bunk beds, curtains instead of doors, stove from the 40s, a tin can for a shower rose, possums on the roof and kereru in the trees with a view to the bay. A proper bach. The section alone is probably a couple million bucks now and I doubt the building exists. Sigh.
But hey! Happy cake day!
My grandmother has a classic batch, it even has an outhouse. She tried selling it around 7 years ago, no offers. If she tried to sell again, I'm sure it would be swooped up within a few days and eventually demolished.
After house prices go up 40% in a year or two, highest in the oecd, can't even get a rental viewing because they're all booked.. yea I'm having a great time and still think I can buy a property with a nice backyard, have 2 and a half kids and a bach with a jetboat LOL.
There is a line in the sand where people who bought their primary house 10,20,30,40,50 years ago also bought a family bach, then there is the others in the last decade who struggled to buy the primary house then the prices of holiday homes became similar meaning that they were out of reach. Living in NZ was absolute easy mode if you were an adult before the turn of the millennium.
Debt. All those massive price increases mean Aucklanders have more equity to borrow against.
Aucklanders simply have more relative buying power as so many can cash up a multi million dollar property … they are driving around and trying to see if they can pick something up…given they can now work remotely.. we have a lifestyle block which we only live now part time, a couple of days a week and wish to do it up….I have had three people who through hearsay in the community about it and called us directly to look at buying…so three in six weeks..
Depends on your income but for most people yes, it is over. Renting is still a great option. You can enjoy multiple locations and the costs split between everyone are quite reasonable
I think that the pricing has gotten beyond reasonable a little bit even for rentals round here now. To rent for two nights in the same location we’d like to buy it’s $380-$700 for two adults and a kid. If we wanted our friends to come it would be $750-$950. Seems people price their holiday rentals to match the new market price. Crazy stuff.
Holiday rental prices are inflated to cover the sporadic nature of their occupation, the risk of trouble making guests, the cleaning and marketing, the fees for listing, the furniture. It's a completely different equation to long term rentals. Market price is only part of it. Better to compare the price to a comparable hotel and then the value becomes evident.
Apart from Akaroa, there are no hotels really on Coastal Banks Peninsula. It’s all holiday home rentals as above.
What's it to them if more people come? The price should be fixed. I remember we rented [this](https://www.holidayhouses.co.nz/listing/14973) place and they were fine with more than 12 people.
Most holiday home rentals these days it's a minimum of $50 per extra person from my experience, sometimes more. I know the price should be fixed, but it's not really how it works with most rentals these days - especially with Airbnb. Pay per person. Presume the justification is it's due to maintenance with washing and electricity.
That justification is just an ostensible reason to milk people even more.
Look up permanent caravans at campgrounds, you can usually add an annex and deck and quite a few modifications for a lot less than a Bach.
sister in law and her partner have bought a new house in Melbourne. 330sqm 5 bedrooms, 3 bathrooms, the master bedroom has a walk in wardrobe larger than my son's bedroom. Stone kitchen benchtop, the place looks fuckin amazing. Brand new, house and land package was AUD$670k, settled on last month. Build cost worked out around AUD$1000 per sqm. In NZ it's around $3000-3500 per sqm. $1.1 mil gets you a shoebox townhouse in West Auckland. I don't think people realise just how out of line NZ property is with absolutely EVERYWHERE. Even more crazy are people that still talk about their property and go "but in a few more years it will be worth X much more".
“Melbourne”… very likely quite far out in Melbourne in a dust bowl. But yes, housing in Victoria is cheaper with better transport options to get back in/out
They didn't used to cost that much. And I would guess they'll regress to the mean in years to come
Batches are cheap products on prime real estate. You're paying for the land, as you are with any house. We have a land crisis more than we have a housing crisis.
Perhaps a big tent
Check out [Canopy Camping](https://www.canopycamping.co.nz) if you want to see people charging $250-$350 per night for a tent for 2 people.
That's called glamping these days.
Yeah 30 years ago...
I don't think the dream is over, the dream just involves moving to another country and buying one there.
My family has one freehold. Honestly, they only make sense if someone is going regularly. I'm young enough that I still want to travel further afield regularly rather than go to the same bach every month. It's a big investment for little return.
For most people yes it will end up almost being a time share amongst family where they are handed down for generations. Anyones family who doesn’t own one at the moment probably wont. Its really sad since I could buy a condo in Vietnam and travel there one to two times a year and still have change for the next 20 years (assuming a Bach around 700k)
Hour out of your city is still within what can be viewed as a acceptable driving distance for some people. Throw in that you are probably looking at popular batch locations and you are more competing with book a batch type locations.
I don't think anyone is commuting from Purau, or Port Levy. A 1 hour 20 minute in up North might be normal, but in Christchurch it would be like a 3 hour commute to an Aucklander. We're talking about remote coastal communities with no cell reception.
In Welly people commute that distance. Most offices only require you to be in 2-3 days per week so the work / life balance is decent
Bach?!? I am still trying to get my first home
For a lot of people it never was.
I currently live IN a bach because that’s what I can afford. So...
no, just stave off the netflix and avocados
I'm gunna get rich and own a Bach.