IT ALL ADDS UP

We've decided to downsize our Auckland 'pied-a-terre' by selling the 2 bedroom apartment and buying a one bedroom one again.

We've only had the 2 bedroom apartment for two years. We traded up from a 1 bedroom one as I had a job that kept me in Auckland for a few days a week and I needed some office space to work from. Now that I've retired that's no longer necessary. The Old Girl wants to keep working in Auckland for a few years so we are going to still need a place for her to live in during the week (she comes north every weekend).

Downsizing will clear the mortgage we have over the apartment which my salary was covering. Now that I'm not earning (although later this month the government 'super' will kick in) the mortgage payments are a bit onerous.

I began checking out sales prospects this week by getting some price indications from real estate agents. As expected they were a bit low as these people are always looking for a quick sale and price things in a lower band to achieve this. Taking off the big chunk of commission they want would leave us with less than we want.

I've decided to do the selling myself and to just use a conveyancing company to handle the legal stuff. This will save at least 20k and I will be able to do things in a more leisurely manner. I like leisurely.

Things add up though. To sell through Trade Me will cost at least $500 for basic listing. Pre Contract Disclosure Statements - PCDS- (mandatory for selling leasehold apartments) will cost another $500. The conveyancing will cost $1300. And, I just learned from the bank that settling up the mortgage could cost at least $2000.

Bastards!