Hi everyone,
My partner and I are looking to buy our first home in Auckland. We were looking at New Lynn and almost made an offer for a 3 bed 1 bath crosslease on Nikau Street. However vendor looking for a higher price and declined our offer. As we both work in the city, New lynn would have been perfect for us to travel to work however, everything in New Lynn seems to be out of our budget and with the flooding that recently occurred, we are slightly worried with buying in that area. Of course we do read the LIM reports for any flooding potential but it's always a concern for us home buyers with all these natural hazards! We currently have an approved bank loan for up to $700,000 and although there are many options available, we are trying to keep our budget to 650k-680k (so that we can buy furniture! haha). Now we are looking to buy a 3 bed house as my father and brother will be living with us. We need some help on where is a good area to buy in terms of long term capital gain as we will want to look into buy investment properties in the future by using the equity from our first home.
1) What are the upcoming suburbs we should be looking at for our price range? Also, which areas are more desirable/safer
2) Would it be a better option to buy further out eg Papatoetoe for a bigger land, or settle with a smaller, crosslease home?
3) Should we buy a renovated home or an older home which we can save up for renovations in the future and perhaps sell it when the time comes for us to expand our family?
Hope to hear good feedback and any advise is much appreciated!
My partner and I are looking to buy our first home in Auckland. We were looking at New Lynn and almost made an offer for a 3 bed 1 bath crosslease on Nikau Street. However vendor looking for a higher price and declined our offer. As we both work in the city, New lynn would have been perfect for us to travel to work however, everything in New Lynn seems to be out of our budget and with the flooding that recently occurred, we are slightly worried with buying in that area. Of course we do read the LIM reports for any flooding potential but it's always a concern for us home buyers with all these natural hazards! We currently have an approved bank loan for up to $700,000 and although there are many options available, we are trying to keep our budget to 650k-680k (so that we can buy furniture! haha). Now we are looking to buy a 3 bed house as my father and brother will be living with us. We need some help on where is a good area to buy in terms of long term capital gain as we will want to look into buy investment properties in the future by using the equity from our first home.
1) What are the upcoming suburbs we should be looking at for our price range? Also, which areas are more desirable/safer
2) Would it be a better option to buy further out eg Papatoetoe for a bigger land, or settle with a smaller, crosslease home?
3) Should we buy a renovated home or an older home which we can save up for renovations in the future and perhaps sell it when the time comes for us to expand our family?
Hope to hear good feedback and any advise is much appreciated!
Comment