Arguably Australia’s most beloved home cook, Nagi Maehashi has made a splash on the Sydney property market with the purchase of a $7 million home in Hunters Hill.
Maehashi, the best-selling author and founder of food blog RecipeTin Eats, purchased the four-bedroom, Victorian-era property in the city’s northwest in December, The Sydney Morning Herald reports.
The home was sold off-market by BresicWhitney’s Nicholas McEvoy, just four years after the same house sold for $4.75 million.
Contained by a wraparound sandstone veranda, the three-bathroom house features hardwood floors, a vine-covered alfresco entertaining area and swimming pool, according to a listing, while maintaining its “original character”.
Maehashi is moving from Mona Vale, also in Sydney’s north, where she purchased a house in 2019 for $3.5 million, The Herald reports. She later sold the property for $6 million to Clean Energy Partners’ Colin Liebmann.
The former Brookfield Multiplex senior executive and self-taught cook started RecipeTin Eats in 2011.
In 2022, she turned the global hit website into a book, RecipeTin Eats: Dinner, which not only scored her a place on The New York Times Best Seller list, but in 2023 was awarded Book of the Year at the Australian Book Industry Awards.
According to Nielsen BookData in 2022, the cookbook was the highest-selling title ever by a debut Australian author in its first week, and became the highest-selling nonfiction book in the country.
Reflecting on her success in an interview with The Herald at the time, Maehashi said it was “very surreal”.
“I am just like everybody else. I shop where everyone shops, I don’t go to gourmet stores … The thing that really resonates, that people say to me, is that I’ve somehow managed to guess the recipes people want,” she said.
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FAQs
In today's climate, the income required to purchase a $500,000 home varies greatly based on personal finances, down payment amount, and interest rate. However, assuming a market rate of 7% and a 10% down payment, your household income would need to be about $128,000 to afford a $500,000 home.
How much of your take home pay should go to food? ›
Try and aim to spend no more than 15% of your take home pay on food and groceries.
What is considered a splurge? ›
If you splurge on something, you spend a lot of money, usually on things that you do not need. We splurged on Bohemian glass for gifts, and for ourselves. Collins COBUILD Advanced Learner's Dictionary.
Is it good to splurge? ›
As long as you're taking steps toward building your emergency fund , budgeting , taking on good debt (and paying it down) responsibly and investing in your financial future, a spur-of-the-moment splurge isn't going to have a lasting impact.
Can I afford a 500K house on 100k salary? ›
To afford a $500,000 house, you need to make a minimum of $91,008 a year — and probably more to make sure you're not house-poor and can afford day-to-day expenses, maintenance and other debt, like student loans or car payments. One good guideline to follow is not to spend more than 28 percent of your income on housing.
How much salary to afford a 600k house? ›
The principal, interest and property mortgage insurance on $600,000 house with a 15% down payment and a 30-year, fixed-rate mortgage with 7% rate would cost $3,662. To afford this, you would need a monthly income of about $13,079 or an annual income of about $157,000.
What is the 50 30 20 rule? ›
The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.
What is the 75 15 10 rule? ›
In his free webinar last week, Market Briefs CEO Jaspreet Singh alerted me to a variation: the popular 75-15-10 rule. Singh called it leading your money. This iteration calls for you to put 75% of after-tax income to daily expenses, 15% to investing and 10% to savings.
What is the 50 15 5 rule? ›
50 - Consider allocating no more than 50 percent of take-home pay to essential expenses. 15 - Try to save 15 percent of pretax income (including employer contributions) for retirement. 5 - Save for the unexpected by keeping 5 percent of take-home pay in short-term savings for unplanned expenses.
What is a big splurge? ›
to spend a lot of money on buying goods, especially expensive goods: I feel like splurging (out) on a new dress. I can happily splurge 3,000 dollars in one day.
Based on that figure, an annual income of $500,000 or more would make you rich. The Economic Policy Institute uses a different baseline to determine who constitutes the top 1% and the top 5%. For 2021, you're in the top 1% if you earn $819,324 or more each year. The top 5% of income earners make $335,891 per year.
What not to splurge on? ›
Items that wear out quickly, no matter the brand.
Things that typically have a shorter useful lifespan aren't worth the extra money to buy expensive brands. This will depend on your habits. For some people, cheaper shoes will do the trick just as well as pricy brands.
What is the slang word for splurge? ›
A splurge is sometimes called a binge.
Do millionaires spend a lot? ›
You might be surprised to learn that, just like the middle class and even some people living at poverty level, some high-net worth individuals are extremely frugal while others use their money to enjoy the finer things in life. “Spending decisions are entirely personal,” Eyler pointed out.
Can I afford a 500K house if I make 200k? ›
A mortgage on 200k salary, using the 2.5 rule, means you could afford $500,000 ($200,00 x 2.5). With a 4.5 percent interest rate and a 30-year term, your monthly payment would be $2533 and you'd pay $912,034 over the life of the mortgage due to interest.
How much should I have saved for a 500K house? ›
Introduction to down payments
So, if your mortgage requires that you put down, say, 3%, the down payment needed for a $500K house would be $500,000 x 3% = $15,000. And a 20% down payment would require $100,000 ($500,000 x 20% = $100,000). You may be able to do those calculations in your head or using a calculator.
How much do you need to make to afford a 550K house? ›
As a general guideline, it's often recommended to limit your housing expenditure to no more than about one-third of your income. And so, to determine approximately how much income you would need to afford a $550K home purchase, triple $42,000: You'd need an annual income of at least $126,000.
