All calculators are downloadable Excel spreadsheets that allow you to save and amend your own personal data.With this spreadsheet, enter your personal data in the purple coloured cells.

Shared house ownership calculator (You own)

There are a few companies in New Zealand that offer to help those with low deposits onto the property market. The most popular is most likely the product offered by the company ‘You Own’.

This is a spreadsheet built for the You Own product offering. They can contribute up to a 15% deposit towards a home purchase as long as you meet the income requirements with the bank. You can then buy out You Own at any stage after the five year mark if you like. They charge fees of 5.95% of their equity portion. So if they own $150,000, you pay 5.95% of $150,000, which is $8,925 for a year. If house prices increase and You Owns equity increases, so too the fees. That is how percentages work. There is also an initial set up fee of $1,100 all included in the calculations.

The calculator provides the buy out option (or not). You can also compare the results to getting a low equity mortgage instead. If you’d like to compare to a low equity mortgage, enter the low equity loan interest rate in cell B15. Otherwise leave that cell blank. Each bank differs, but for a estimate on how much higher your interest rate would be, have a read of this guide.

The results show not only the equity gains with each option, but also the cashflow spent to get to that level of equity. It’s all well and good to have higher gains, but how much did it cost to get the gains? The spreadsheet then provides the results of the equity gains and total cashflow spent, and compares the two options.

For personalised advice on deciding whether or not co ownership should be part of your financial plan, then get in touch for a no obligations chat to see how we may be able to add value for you.

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