As you begin to plan your travel costs and needs, note that our advisers will work with you to create a plan to save and calculate your individualized cost of living. Our network of resources may be able to assist you in determining if this is the right fit for you and anything else you may need to make New Zealand your new home.
Rent depends greatly on quality, location and size of the property, but according to TradeMeProperty, the median rental in New Zealand for a 3 or 4-bedroom home is NZD460, but if Auckland is excluded, the median will drop down to NZD395. ‘Flatting’ is common in New Zealand, especially for students or young professionals who do not have a family yet. Flatting has the advantages of moving in to a house with other people who know the local area well and being able to save money on buying furniture and appliances. Landlords are typically looking for NZD153 per room in a 3 to 4-bedroom home. Utilities, food, and other payments may be shared with flatting. Be sure to discuss these agreements before you move in. The estimated cost of flatting per person for a flat of 4 to 5 people can range from NZD9-11k a year.
In addition to your course work, you may be able to add on 20 hours of part-time work to your schedule. The minimum wage in New Zealand is NZD14.75, and for an academic year of 40 weeks, you could earn up to NZD11,800. We highly recommend that you open a bank account as soon as you arrive in New Zealand. A bank account is a great way to save and protect your money as well as managing finances and making payments quickly.
The average living costs and accommodations are estimated to be NZD15k a year, but it is always important to always save up enough money in case of a medical or financial emergency. Some costs to use as reference include: student travel insurance – NZD571.25 per year, women’s haircut – NZD50-90, men’s haircuts – NZD10-40, restaurant meal – NZD14-80, 1 litre of milk – NZD2.62, 1kg of chicken breasts – NZD14.24, internet – NZD80-90. Click here to find out more cost of living prices in specific cities.
Many of the colleges and institutes in New Zealand are located in the big cities, Auckland and Wellington. Due to its high concentration of people, Auckland can be significantly more expensive than smaller towns nearby. For example, in Auckland there are 1.337 million people and the media house price ranges from NZD550k-773k. In Wellington there are 204,000 people and the median house price is about NZD400k. Smaller cities such as Dunedin, Nelson, or Invercargill have a population ranging from NZD50k-125k and the median house income can range from NZD190k-350k.
Disclaimer: not all prices and estimates may be up to date. Be sure to research online or with agents to get a better estimate on your cost of living in a specific city or town.