Why Owning A Home In New Zealand Is An Important Investment
The cost of living in New Zealand keeps on rising with everything from transport to food getting more expensive from month to month - or so it would seem. What was once a dream attainable by anyone willing to work hard enough, property ownership seems so far out of reach for young New Zealanders and new families that a lot choose to just give up, especially in main urban centres. Renting is the new norm and some Kiwis are resigning themselves to remaining tenants for longer; between 2001 and 2006 alone, the number of people in the country under 40 who owned or partly owned the dwelling they lived in dropped by 3%.
It's important that home ownership is encouraged and that buying a property remains an attainable goal for New Zealanders. There might be more responsibilities with owning the house that you live in yourself, but there benefits of homeownership extend far beyond just the financial.
Guarantee Future Security
A lot of people are afraid of the word 'mortgage'. The idea of owing such a large amount of money is enough to put anyone off, but if you can look deeper into the way a home loan works you'd understand that paying off a mortgage is more like a forced savings scheme than anything else. Sure it might take a bit of effort to get into the position where you can discuss a purchase with a bank - especially in Auckland or Wellington - but once you've got a home loan sorted and the keys to your own property you'll find yourself accumulating wealth in the form of equity quicker than you'd ever be able to save on your own.
See a Return on Your Investment
Property is one of the strongest long-term investment options and the safest way to see a return. When renting, your money goes towards paying off somebody else's mortgage but, when you own, your money is being invested in your future. New Zealand residential property appreciates at an average of 10% per year, meaning the longer you own a home the more money you'll make with less risk. The country's more lucrative real estate areas like the Auckland property market, where there is higher demand, can see even higher growth rates while giving you the added ability of further investment through the rental market in the future.
Enjoy More Freedom
Owning your own home also gives you the freedom to create your own space to live in. Paint the walls any colour you like, renovate the kitchen to match the desires of your inner chef or even build the dream home that you've always wanted on an empty section - these are things that you could never do when renting.
Home ownership means future financial security, investment opportunities and the freedom to lead your life your way. Prepare a future for your children and invest your money rather than throwing it away as rent. Take charge: invest in New Zealand property and become a homeowner.
It's important that home ownership is encouraged and that buying a property remains an attainable goal for New Zealanders. There might be more responsibilities with owning the house that you live in yourself, but there benefits of homeownership extend far beyond just the financial.
Guarantee Future Security
A lot of people are afraid of the word 'mortgage'. The idea of owing such a large amount of money is enough to put anyone off, but if you can look deeper into the way a home loan works you'd understand that paying off a mortgage is more like a forced savings scheme than anything else. Sure it might take a bit of effort to get into the position where you can discuss a purchase with a bank - especially in Auckland or Wellington - but once you've got a home loan sorted and the keys to your own property you'll find yourself accumulating wealth in the form of equity quicker than you'd ever be able to save on your own.
See a Return on Your Investment
Property is one of the strongest long-term investment options and the safest way to see a return. When renting, your money goes towards paying off somebody else's mortgage but, when you own, your money is being invested in your future. New Zealand residential property appreciates at an average of 10% per year, meaning the longer you own a home the more money you'll make with less risk. The country's more lucrative real estate areas like the Auckland property market, where there is higher demand, can see even higher growth rates while giving you the added ability of further investment through the rental market in the future.
Enjoy More Freedom
Owning your own home also gives you the freedom to create your own space to live in. Paint the walls any colour you like, renovate the kitchen to match the desires of your inner chef or even build the dream home that you've always wanted on an empty section - these are things that you could never do when renting.
Home ownership means future financial security, investment opportunities and the freedom to lead your life your way. Prepare a future for your children and invest your money rather than throwing it away as rent. Take charge: invest in New Zealand property and become a homeowner.
