Hello everyone,
Have been browsing this forum for awhile now and learnt a lot so far. So thank you.
We are planning on buying our first investment property next year. We have $40K (could stretch to a little more) so with the new LVR rules, looking at spending around $200K. We do not own any other property, but this is a start.
We live in Auckland but have been priced out of the market here. Unless we get a tiiiiny CBD flat, and from what we see the rental return will not be sufficient. Plus they either leak/high body corp/don't meet EQC regs. Sounds like a minefield.
We are planning on leaving NZ late next year and want to buy something before we go. So will also be using a property manager.
Currently looking at Dunedin. We know it a little more than other cities outside Auckland and can get at least 7% return from what we see. Just concerned that we may not see capital gains.
Is anyone else buying in Dunedin at present? Or does anyone have other areas to suggest, within our budget & with a sufficient return? Noticed some mentions about Hamilton, Hawkes Bay, Kapiti Coast and Rotorua. Would anyone recommend those over Dunedin and why?
Thanks so much! I will tell our story as it progresses
Laura
Have been browsing this forum for awhile now and learnt a lot so far. So thank you.
We are planning on buying our first investment property next year. We have $40K (could stretch to a little more) so with the new LVR rules, looking at spending around $200K. We do not own any other property, but this is a start.
We live in Auckland but have been priced out of the market here. Unless we get a tiiiiny CBD flat, and from what we see the rental return will not be sufficient. Plus they either leak/high body corp/don't meet EQC regs. Sounds like a minefield.
We are planning on leaving NZ late next year and want to buy something before we go. So will also be using a property manager.
Currently looking at Dunedin. We know it a little more than other cities outside Auckland and can get at least 7% return from what we see. Just concerned that we may not see capital gains.
Is anyone else buying in Dunedin at present? Or does anyone have other areas to suggest, within our budget & with a sufficient return? Noticed some mentions about Hamilton, Hawkes Bay, Kapiti Coast and Rotorua. Would anyone recommend those over Dunedin and why?
Thanks so much! I will tell our story as it progresses
Laura
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