Hi all....so here is the dilemma!!
I am a newbie investor with only $400,000 to play with, live in Auckland and would probably prefer to buy here in Auckland, ( easier to renovate etc and also the potential future capital gains). I've taken that long pissing about that now with all the LVR changes and the market going bananas, that I can afford very little. My intention is to buy as many buy and holds as possible in the next 15 years to supplement my retirement.
It seems my only options with a starting sum of $400,000 would be
- a 2 or 3 bed house in Pukekohe, Tuakau or Waiuku
- a CBD apartment
- or a 2 bed unit somewhere in an Auckland suburb
I need advice on which option is the best one to go with .....my concern about a apartment is that it will be hard to add value and therefore difficult to build up any equity to take out for property #2. The concern about Pukukohe is that it is too far away from Auckland CBD and therefore property prices may not increase so much there.
Any ideas on where I should start would be gratefully received - I feel like I am going round in circles and need to make a decision and run with it ....just don't want to stagnate at 1 investment becasue I haven't made a wise decision in the first place
I am a newbie investor with only $400,000 to play with, live in Auckland and would probably prefer to buy here in Auckland, ( easier to renovate etc and also the potential future capital gains). I've taken that long pissing about that now with all the LVR changes and the market going bananas, that I can afford very little. My intention is to buy as many buy and holds as possible in the next 15 years to supplement my retirement.
It seems my only options with a starting sum of $400,000 would be
- a 2 or 3 bed house in Pukekohe, Tuakau or Waiuku
- a CBD apartment
- or a 2 bed unit somewhere in an Auckland suburb
I need advice on which option is the best one to go with .....my concern about a apartment is that it will be hard to add value and therefore difficult to build up any equity to take out for property #2. The concern about Pukukohe is that it is too far away from Auckland CBD and therefore property prices may not increase so much there.
Any ideas on where I should start would be gratefully received - I feel like I am going round in circles and need to make a decision and run with it ....just don't want to stagnate at 1 investment becasue I haven't made a wise decision in the first place
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