Hi there i have been reading the site for some time but now i have signed up looking for some direct advice regarding purchasing a first home in South Auckland.
Heres the numbers,
early 20's, combined income 110k and rising.
25k deposit so far, going up 800 per week, access to 20k interest free.
No credit card or personal loan debt.
Student loan combined 40k
No dependants.
Id like to hear what you would do in my situation, I am thinking wait till 30k+ deposit and take the 20k loan to make a 50k+ deposit on a low 300k 3 bedroom (with high 300k asking price) house. I have been looking in conifer grove, manukau gardens, totara heights, wattle downs etc but would you suggest a cheaper house for a first? Or some potentially better areas for tenants?
How does a property finder work? do I pay on purchase or in advance for listings or do they negotiate price aswell? I am living in it so a nice yield isnt the be all and end all ie must have a double garage or room for me to build one.
I am more than happy to have a do up, and can build decks, garages, lay carpet and concrete etc.
If you managed to get through all that, cheers.
Heres the numbers,
early 20's, combined income 110k and rising.
25k deposit so far, going up 800 per week, access to 20k interest free.
No credit card or personal loan debt.
Student loan combined 40k
No dependants.
Id like to hear what you would do in my situation, I am thinking wait till 30k+ deposit and take the 20k loan to make a 50k+ deposit on a low 300k 3 bedroom (with high 300k asking price) house. I have been looking in conifer grove, manukau gardens, totara heights, wattle downs etc but would you suggest a cheaper house for a first? Or some potentially better areas for tenants?
How does a property finder work? do I pay on purchase or in advance for listings or do they negotiate price aswell? I am living in it so a nice yield isnt the be all and end all ie must have a double garage or room for me to build one.
I am more than happy to have a do up, and can build decks, garages, lay carpet and concrete etc.
If you managed to get through all that, cheers.
Comment