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Property Investment in Auckland

Posted on: Saturday, January 19 2013

The Auckland Property Investment Market Should You Get In Now?

In recent times the property investment market in Auckland has been really strong and prices are on the increase. The big question of course is how much more and how much longer will they go up? And is it a still a good idea to buy a residential investment property in Auckland? Having a crystal ball is probably the only way you will ever answer that question.

The best time to buy a property investment is when it fits your individual investment criteria. You will never know for sure what the market will do over time. Statistics can provide you with a guideline buts that’s all it will ever be. You will need to make your own decisions considering what the investment will achieve for you based on your due diligence and how that fits into your financial goals.

Auckland Property Investment Market

 

Here a four key things to help you make your decision:

 

  1. Have a plan

Many investors purchase investment property simply for the reason that they know it goes up in value over time. Are looking for capital growth, cash flow or a combination of the both? What type of property do you want to buy? Do you want a place you can add value to? Do you want to be an active or passive investor? What is your timeframe?

 

  1. 2. Consider your financial position

Before making investments in property, take a look at your financial position. What is your financial position today? What do you want it to be in the future? How will the property investment you are looking at help you reach your financial goals. Have you considered any potential risks and how would you manage those financially.

 

  1. 3. Do the numbers

It’s critical that you understand the numbers. Make sure you are realistic on what rents you expect and the expenses you may occur like repairs and maintenance, body corporate, water, rates, insurance, vacancy and of course interest costs. Be mindful not to speculate too much on what capital growth you will get and make your decision based soley on that. Its more prudent to error on the side of caution rather than being too optimistic.

 

  1. 4. Get good advice

It doesn’t matter what you level of knowledge is it’s smart to ensure you get professional help. Even the most successful investor use a team of experts to help them ensure they are making the best possible decisions. Your team may include but not be limited to: a lawyer, accountant, valuer, property mentor, financial adviser, building inspector, property manager and mortgage broker.

 

Investing in the Auckland residential property has the ability to improve your financial position. Like any good decisions the more thought and research you put into your decision making process the better off you will be.

By Lisa Dudson
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I Find Property

Lisa is co Director at I Find Property. I Find Property Enabling you to get your hands on some of NZ’s best property investment opportunities is our mission. We are a trusted team of professional, independent negotiators, with years of knowledge and experience. We would love to help you, so visit our website and sign up to our newsletter to receive our great deals.