We have recently sold our 2 rental units in Auckland(to the council for,they needed them for roading)and are looking to purchase another property(rental).My wife's ear has been bent by her mother who has just bought in Tauranga(The Mount),my wife is keen to do the same.I am not so.More difficult to manage(distancewise) ,not being familiar with the area and I am not so sure one would see the same potential long term gain as one would in Auckland.Would appreciate any thoughts on the this,in particular the subject of which would offer better long term gain.
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Auckland or tauranga investment property
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With Tauranga - Check the returns. A quick search of TM sales and rentals should highlight them - from my casual observations, they are not great in those areas.
Also be very careful of leaky buildings and body corporates with insufficient maintenance plans, insufficent sinking funds and delayed maintenance.
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IT Solution Architect by day.....property investor by night. All i need now is the bank as my butler and a cave with high capital gains.
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If Tauranga property prices goes up leaps and bounds in the next 5 - 10yrs and you still haven't invested there, the peace in your household may be compromised.IT Solution Architect by day.....property investor by night. All i need now is the bank as my butler and a cave with high capital gains.
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I have family and property in Tauranga, Dad owns a glam house in Down town mount so im down there quite a bit from Auckland. If you brought some time this year ill say initial returns and on going returns are far better in Auckland, the pool is also very vast.
Tauranga is very limited and its workforce just dosnt have the wage to help growth at constant rate like Auckland.
The mount is very nice but don't get sucked in to buying around the Bayfair area which agents will sell as being the mount, but this is far from the case.
Remember that the vast amount of Tauranga are on the older side of the coin and workfroce can be very seasonal at times.
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