Although lately it seems like everyone wants to move to New Zealand, the truth is people have been moving to New Zealand for decades. Those who choose to retire here enjoy one of the highest qualities of life in the world, a stable economy, and plenty of tight-knit communities. With good health, excellent food, and the great outdoors, is it any wonder so many want to retire here?
This is part of our Retirement Guides series:
– Retire in the Philippines
– Retire in Portugal
– Retire in Costa Rica
Has the thought of living or retiring in New Zealand has ever crossed your mind? Perhaps you want to buy some farmland, raise some sheep, and live out your days in paradise?
Here are some things you should know. Read on…
GETTING A VISA
To immigrate to New Zealand you have two options: You can apply for temporary or permanent residency. Both programs require good health and character, investment in New Zealand, and proof of ownership of additional settlement or maintenance funds. Visit the immigration website to get started.
Do I need a special retirement visa in New Zealand?
After being on pause for the past 3 years, the official retirement category has finally opened up once again in 2020. This is the first option for retirees wanting to spend their lives in New Zealand. But it is capped at only 1,000 applicants per year, so it’s best to get your application lodged as soon as possible.
How do I qualify for NZ residency?
The Work to Residence program allows workers. to upgrading from a temporary work visa to a permanent residence. However, to be eligible, you at least need to show proof that you’ve worked in New Zealand for two years. Immigration will also ask you to meet their health and character requirements.
If you are over 56 and have an adult child currently residing in New Zealand, you likely qualify for permanent residency. However, to apply permanently, you’ll need an annual income of at least NZ $60,000, with an additional NZ $1 million to invest over four years, plus NZ $500,000 to continue living on afterwards. This will certainly be out of reach for many individuals. But once you complete the 4-year investment period, you’ll be granted eligibility for permanent residency.
WHAT ARE THE BEST PLACES TO RETIRE IN NEW ZEALAND?
It’s been a year since New Zealand’s capital city, Wellington, topped the annual index and became the city with the single best quality of life in the world. However, there are other regions that are worth considering.
Best retirement Villages in New Zealand
The anticipation of demand for retirement villages in New Zealand is rapid in the aging population. There are two types of retirement villages, lifestyle villages, and full-care villages. The former has more independence but under a secure community, and the latter offers independent living units, rest homes, and private hospital facilities.
New Zealand has something for everyone. Where to retire depends significantly on your taste and preference. If you’re seeking stunning scenery and the opportunity to stay active for the rest of your life, alongside other internationals, you’ll enjoy the mountain town of Queenstown in the South Island.
If sipping wine along the coast is more of your style, then the region Tasman and Hawkes Bay will sound more appealing. Those who want to truly escape will find their solace in the East Cape or the Far North, while urban settlers will more likely appreciate the cafes, recreational parks, museums, natural sites, and excellent transportation in Wellington or Auckland.
Most Popular: Marlborough
Famous for its glorious Sauvignon Blanc wine, Marlborough scores highly on the main six measures: House prices, climate, crime rate, health systems, number of retirees over 65s, and ease of access to basic needs and amenities.
One of the best things about the Marlborough region is its sheltered inland waterways. If you’re into fishing and boating, these are perfect. You’ll also love its iconic sceneries and arid hills, definitely best combined when you start cycling, mountain biking, tramping, and taking pleasant walks to the renowned Queen Charlotte Track.
Northern Marlborough breeds more tranquillity and nature. A mostly hilly region, the last ice age carved Marlborough Sounds into an extensive series of sunken river valleys, which are now the north’s most notable feature. The curvy landscape in this region means a whopping 20% of the country’s coastline. Many expats feel Marlborough is the overall best place to retire in New Zealand.
Most Underrated: Nelson
If you want a place quite different from the rest of the best, Nelson is a small but stunning city. Living here is more familiar to those who want a small-town feel. Sunny nearly all year round, the landscapes are almost also as spectacular as the weather, which allows you to get all the outdoor activities you could ever dream of.
This small village just outside the Marlborough region has more percentage of old retirees than most areas in NZ. It’s ethnically diverse, and regularly attracts many foreigners – especially immigrants from European countries – who over the past 50 years have been drawn in by the pleasant weather, and tend to to visit in the fall.
HOW MUCH DO YOU NEED TO RETIRE IN NEW ZEALAND?
Although it may be a dream for many, the truth is only a few can afford to live and settle here due to the strict financial requirements in obtaining a visa, and the high cost of living.
Statistics by Numbeo show that New Zealand is the 17th most expensive place to live in the world. While cheaper compared to nearby Singapore, South Korea, and Japan, it is similar to living to Australia; though a bit more expensive once you take rent into account.
The daily cost of living in New Zealand
First and foremost, visa requirements alone can cost a considerable amount of money. The application fees for getting a visa ranges from USD $45 to USD $2,000, depending on the visa program you use.
Once there, the cost of living in New Zealand is slightly higher than the U.S. Rent is typically lower than most American cities. Renting a flat costs a minimum of USD $1,000/month, and in the major cities can easily top $3,500 for a nice place.
There are other hidden costs as well. If you’re in NZ, particularly for studying, you must provide evidence that you can cover at least $15,000 to support yourself for the first year. And nonresidents will also need to pay income tax on their pension.
Buying real estate vs renting:
Renting a flat
In 2018, New Zealand banned most foreigners from buying a home. This was due to wealthy foreigners from the US and China buying up homes, and driving up the price for New Zealand residents. However, those with residency are still be able to buy homes, as are residents of Australia and Singapore.
Run your numbers first before you decide whether to rent or own. Although it’s less of a hassle, buying a house is not always the best decision. If you’re moving to New Zealand for the long haul, you should strive own a property.
When you first rent, the landlord may ask you for rent in advance, and a bond. The total of your first payment would probably be 1 or 2 weeks advance. If the landlord asks for a bond, it could take four weeks of rent, and the landlord must give a receipt for your bond money and issue it with Tenancy Services within 23 days. You will get your bond back by presenting the receipt and making sure to leave the property in good condition.
Buying a home
If you are able to buy a property in New Zealand, expect it to take at least 3 to 4 weeks to complete the processes. It’s a lot less stressful to buy than other places around the globe, since after the bid is accepted formally, they don’t tolerate last minute offers.
New Zealand housing types are a mixture of standalone buildings on what can often be large blocks of land. Most home and land purchases require a qualified real estate agent. In some cases, it’s best to get independent advice from lawyers or people more experienced in-home buying (‘conveyancing’) before embracing an offer.
LIVING IN NEW ZEALAND AS AN EXPAT
Food and Wine
New Zealand offers a refreshing and authentic experience in modern global food travel. Its wineries have been operating for more than five generations. There are about ten major wine-producing regions in New Zealand, and Marlborough and Hawke’s Bay are the two premium growing areas.
It’s good to practice to find food from your homeland while living in New Zealand. But don’t hesitate to try local cuisine and specialties. Seafood, lamb, wines, and cheese are some of the well-known ingredients New Zealand cuisine offers. Locals are also fond of Asian cuisine as well as European food, done with a Kiwi twist. Cafes are cheaper, and posh restaurants can be quite expensive.
People
New Zealanders have an exceptional accent, which can be quite confusing to travelers and newcomers. You certainly do not need to learn a new language to live here, but a bit of knowledge in Kiwi lingo will go a long way.!
If you spend enough time in New Zealand, you’ll notice how locals here are easygoing, good-natured, and oozing with positivity – thinking everything will work out well at the end of each day. It’s one of New Zealand’s biggest draws, and the friendly nature of the Kiwis is something that expats or migrants will notice straightaway.
Everyone is incredibly friendly and might start a conversation and make small talk once in a while. Expect to walk around town and have a stranger smile or greet you – this is not unusual at all. You’ll always find your people somewhere in New Zealand. Between backpackers, expats, retirees, long term immigrants, it’s a multicultural society.
While there truly aren’t many people living in New Zealand, there are plenty of sheep. In fact, nearly 30 million of these furry creatures dot the landscape like a fluffy white cloud; far outnumbering the 4.8 million humans.
Health Insurance
Thanks to government subsidies, residents and people who hold work visa benefits from a sound public health system, often free or low cost. If you’re a retiree and have limited income, you’ll be liable to get help from the government for regular and unexpected medical expenses.
Weather
New Zealand is known for its temperate, mild climate. The Far North has a subtropical climate, so expect a typically long, hot, and humid summer. The temperature here drops as low as -10 Celsius down in the South Island’s alpine region.
Winter is often associated with large storms, and summers are mild, never too hot. People residing close to the coast enjoy a mild climate pretty much throughout the year.
FINAL THOUGHTS
New Zealand is a place everyone wants to live – and for good reason. There are few countries who strike the balance between cities and nature so well. There is plenty to enjoy here, from the cuisine to the people to the raw beauty. If you are lucky enough to be able to make retirement happen here, you can’t do much better. Good luck!
