A South Auckland Home is Up for Grabs - and it Can Be Paid For in Bitcoin!
Table of Contents
- 1. A South Auckland Home is Up for Grabs - and it Can Be Paid For in Bitcoin!
- 2. South Auckland Home Up for Sale – Bitcoin Only
- 3. What are the potential risks and rewards of selling a home for Bitcoin?
- 4. He Sold His Home For Bitcoin – Here’s why
- 5. Brendon, why did you choose to sell your home for Bitcoin?
- 6. It seems like a risky move. Isn’t the value of Bitcoin quite volatile?
- 7. What kind of reaction has this decision received from potential buyers?
- 8. How are you making the transaction work in terms of converting Bitcoin to New Zealand dollars for things like mortgages?
- 9. What message do you have for other homeowners who might be considering selling their properties for Bitcoin?
Imagine buying a home with cryptocurrency. Sounds futuristic, right? Well, it’s becoming a reality in South Auckland, where a three-bedroom home is set to be auctioned, offering bidders the unique option to pay with Bitcoin.
Brendon Wang and his wife, who purchased the property for $556,000 in 2020 and have since invested around $60,000 in renovations, are making history by offering this choice payment method. Their decision stems from a belief that Bitcoin presents a stronger investment chance compared to conventional property.
“That’s why we wont to switch to a faster horse, to swap from property investment to crypto investment,” Wang told OneRoof
.
He further explained, “We think with Bitcoin reaching its all-time high recently, it would be good for someone to take the profit and swap their profit into property. There’s always two-way traffic in this kind of scenario. I think people who bought Bitcoin at a lower price and have now doubled or tripled their money might now want to sell Bitcoin for property.”
While this isn’t the first time a New Zealand property has been listed to accept Bitcoin, no successful Bitcoin transactions have taken place yet.
TheWangs are committed to making this a smooth process.They’ve partnered with crypto law experts from Stace Hammond and Easy Crypto,a New Zealand cryptocurrency retail platform,to facilitate the transaction. If the property is purchased with Bitcoin, Easy Crypto will convert a portion of it back into cash to settle the mortgage.
Wang admits to feeling both ”nervous but excited” about this landmark sale, believing Bitcoin to be a more secure investment at this juncture.
South Auckland Home Up for Sale – Bitcoin Only
Imagine buying a house with Bitcoin. For one South Auckland couple, it’s not just a dream – it’s a reality.
1/27 Weymouth Road, a refreshed three-bedroom home in Manurewa, will be auctioned off exclusively for Bitcoin on February 13.
The Wangs, the property’s current owners, arrived at this unique sales strategy after a stroke of online serendipity. “I had this idea and I Googled it and I saw William’s name and William was the guy who sold this property to us in 2020,” Wang explained, referencing their real estate agent, William Vaea. “It was fate,” they added.
Vaea, who also handled the sale of another South Auckland home specifically marketed for Bitcoin a few years ago, is guiding the Wangs through this novel process. He acknowledges the novelty of the situation: “In this job there’s always something new every day. It could be.”
The decision to embrace Bitcoin as currency stems from a belief in its future potential. While cryptocurrency adoption in New Zealand’s traditional real estate market is still relatively uncommon,the Wangs are optimistic.”We are not done on this crypto cycle and more people are going to be thinking how they can swap between crypto and other assets,” Paul Quickenden, Easy Crypto’s chief commercial officer, commented. “So we think this will be a more common occurrence but someone has got to go first for people to believe in it a bit more.”
This innovative approach reflects a shift in the investment landscape. Young investors, especially, are drawn to Bitcoin’s accessibility and potential for high returns, while acknowledging the inherent risks of its volatility.“Young people still want financial freedom and are looking at other asset classes to help them with that and because the entry class for crypto is $50 NZD that’s something that is attainable,” quickenden explained.
the Wangs believe that open-minded investors will see the potential in their unique proposition. Their property, with its upgraded kitchen and bathroom, offers a compelling opportunity for both traditional and crypto-savvy buyers alike.
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What are the potential risks and rewards of selling a home for Bitcoin?
He Sold His Home For Bitcoin – Here’s why
Brendon Wang’s latest career move might seem like something out of a sci-fi film – selling his South Auckland home exclusively for Bitcoin.We caught up with Wang to find out what led him to make this unconventional decision and what it means for the future of real estate.
Brendon, why did you choose to sell your home for Bitcoin?
It’s a belief in the future of cryptocurrency. We don’t see Bitcoin as just a speculative asset; we believe it has the potential to revolutionize how we think about money and investments. With the recent surge in Bitcoin’s value, it felt like a natural move to transition part of our portfolio into this exciting new asset class.
It seems like a risky move. Isn’t the value of Bitcoin quite volatile?
Absolutely. Bitcoin’s price can swing wildly in the short term. But that’s true of most asset classes, including real estate.We’re thinking long-term.We’re confident that Bitcoin will continue to gain mainstream adoption, increasing its value over time.
What kind of reaction has this decision received from potential buyers?
It’s been captivating! Some people are intrigued.They see it as a unique opportunity to invest in their dream home using a currency they understand and believe in. Others are more hesitant, understandably so. It’s still a relatively new concept for many.
How are you making the transaction work in terms of converting Bitcoin to New Zealand dollars for things like mortgages?
We’ve partnered with Easy Crypto, a reputable crypto exchange platform, and legal experts to ensure everything is handled smoothly and securely. They’ll be converting a portion of the Bitcoin into NZD to settle the mortgage with the bank.
What message do you have for other homeowners who might be considering selling their properties for Bitcoin?
Do your research! Understand the risks and rewards. Be sure you’re pleasant with the volatility of Bitcoin.At the end of the day, it’s about making informed decisions that align with your personal investment goals.
