Hi all
I have a problem. We are NZer’s renting in Aus. (We never intended to stay this long) We have 2 +ve houses in NZ. Do we build/buy here or buy another +ve in NZ? The houses in NZ are our future finance for when we finally do move home (which is a given – just not when), so they will be long term investments, rather than fast profit makers. HELP!!!! We are going home at easter, and need to make some sort of decisions b4 then – especially as new house prices will increase by the end of March.If I were you I would keep buying properties in NZ. You won’t be finding places easily with high CG, or with +ve cash flow in Australian cities. If you can still find +ve properties in NZ I would be buying them up before they all go.
My online investing diary: http://www.retireyoungandwealthy.com/
Freedom!
I would definitely continue renting in Aus for the time being and buying CF+ve in NZ like Tokyo Joe says.
Do the numbers. If you do, the answer will be obvious! And in the end buying an own home is an emotional purchase and for a lot of people emotions are more important. Not that you’ll LOSE buying your own home and living in it for a few years, but it will slow you down significantly
I reckoncheers-
MiniHi freedom,
They’ve got it right, you will find much better deals in NZ and being a local you should know the areas much better than us Aussies going over there for a couple of weeks scouting a few areas.
easymoney
Hi Don & Liz
Live in Melbourne, the houses are in the South Island. We were looking at building rather than buying around the Melbourne area. But the expected rise in interest rates is also a worry, lol. But not enough of a worry if the general opinion was to build here. If we did, then it would definetly be sold prior to our final leaving.
Thanks for all the great advice.Hi Freedom5,
Sorry for the delay. I am not experienced in the melbourne market and have never brought a home there.
.
You are one of the lucky ones because you have a history with the NZ market and all the local knowledge that comes with it. The sort of stuff you can’t find in reports and forums. (would like to pick your brain oneday about the South Island.)
.
Are you sure how long you are going to stay in Aus? It may boil down to a lifestyle choice in the end. I imagine that you will be able to get a much better place in terms of living conditions renting than you could using the same cash to purchase ie bang for your buck. Long term it would probably be good to get into a major capital city market in Aus but there does not seem to be any great rush to jump in and buy at the moment.
.
It may well be best to sit on the fence with an eye on both markets. Buy something below value when the chance arises.
.
Good Luck
You must be logged in to reply to this topic. If you don't have an account, you can register here.
