Hello
Weighing up between two new build opportunities: house and land package standard (not designer) 4 bed, 2 bath, 2 garage standard brick 203m2 on 583m2 plot in rototuna near high school and new facilities, 880k gross yield 3.6% really negatively geared but can top up.
OR new town house hamilton central 2 bed, 2 bath offstreet parking 550k gross yield 4.6% neutral or slightly negative.
we have our family home in Rototuna (mortgage free) and an auckland rental 790k with 320k mortgage. Can service total debt and would look to top up and get rid of debt between 10-15 years. Not a trader looking to hold for the long term.
I really like the new proposed rototuna facilities and waikato expressway plus good schools but the property pruces are really high (i guess you get what you pay for) but I also appreciate the better yield of the town house and the revitalisation of the CBD. If i was in a slightly better position i would would do both. I have been reading heaps and researching etc I have not purchased an investment property before (previous buys were family homes). Any thoughts? Cheers
Weighing up between two new build opportunities: house and land package standard (not designer) 4 bed, 2 bath, 2 garage standard brick 203m2 on 583m2 plot in rototuna near high school and new facilities, 880k gross yield 3.6% really negatively geared but can top up.
OR new town house hamilton central 2 bed, 2 bath offstreet parking 550k gross yield 4.6% neutral or slightly negative.
we have our family home in Rototuna (mortgage free) and an auckland rental 790k with 320k mortgage. Can service total debt and would look to top up and get rid of debt between 10-15 years. Not a trader looking to hold for the long term.
I really like the new proposed rototuna facilities and waikato expressway plus good schools but the property pruces are really high (i guess you get what you pay for) but I also appreciate the better yield of the town house and the revitalisation of the CBD. If i was in a slightly better position i would would do both. I have been reading heaps and researching etc I have not purchased an investment property before (previous buys were family homes). Any thoughts? Cheers
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