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New investor - advice?

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  • New investor - advice?

    Hey everyone,

    Just wanted some of your thoughts and ideas around timing especially in the current climate.

    We are new to the game obviously so trying to navigate a politically tricky and changing market that seems impossible for investors currently.

    Of note this is all being looked at in Wainuiomata, Lower Hutt as there are large sections, good growth, and new developments including new supermarket, new builds, etc everywhere.

    We have built up a lot of equity on our subdivideable section where we live on - our original plan was to subdivide and build on our section. With current building costs we decided to pause that idea.

    With the fall in prices we are looking at buying a rental with a large section for development later on down the track. Currently we can get this for around 750 with a 240k deposit. The issue I have is with the current interest rates, increases in rates, and no tax deductability nothing appears to be CFP. If anything there's minimal incentive unless we consider the money the land will bring in later with building.

    What would you do in our position? We have equity to play with currently as we purchased at a good time. Would you wait it out a few more months with the expectation that things will fall further? Are there any interest predictions albeit unpredictable? Is building ever going to go back to what it was?

    Would love some advice.

  • #2
    New builds are the Government's focus so they have the tax exemptions and favourable mortgage rates.



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    • #3
      We aren't really interested in buying a new build as there's no potential with it for us personally long term. We want this to be a rolling long term growth maker. New builds are coming on small sections and are overpriced in our view. We are happy to build on land BUT building costs, decrease in value, and brightline are all considerations making us want to hold land for now.