You could buy a two-bedroom home in Invercargill for $149,000, leaving you with a neat $11,000 for the renovations. If Southland's not your vibe, there are plenty of options in Tokoroa and Whanganui.
A private island
You're not going to a tropical paradise on this paycheck, but you could buy an cold uninhabited island in Europe for under $160,000. A quick search turned up Crehan Island for an asking price of roughly $158,000. The small piece of land in Ireland is . . . not without its charm. Otherwise, an island on the cold Norwegian skerry coast is going for a similar price.
A yacht
If you wait a week after buying your island you could sail there on your very own yacht.This one could be yours for $159,000.
57,142 copies of the New Zealand Herald newspaper
And worth every cent.