Hi all,
The information you get from these forums is unreal – some of you seem to have so much insightful knowledge to pass on. We really need some guidance from you professionals out there……………………..
We are a young kiwi couple living in Aus, and have saved up $30K so far for a deposit SOMEWHERE. The end goal is to have CF+ IP's with a buy and hold scenario over the long term, but we cant decide where to buy (or how to find the appropriate information in NZ as we can here).
Ideally we want our own home, but are we right in thinking that it would be best to use our hard earned and long time savings for a deposit on a cheaper IP first, then buy our own PPOR later?
The pros for NZ are that;
-NZ is cheaper
-our AUD deposit will equate to more in NZD once converted
-there are (probably?) more renters in NZ compared to here as its harder to buy in NZ with their stricter lending criteriapros for AUS are;
– FHOG here
– again guessing – that property here would increase in value faster than NZ (or are we totally speculating here?)
– we'd need a 30% deposit if buying in NZ which would take an eternity to save for!Im sure there are a far more pros/cons that we havent covered but these are the main points we focus on.
I've seen a few investors here that have IP in both Aus and NZ, so wonder if anyone can shed some light on what they think is a wise move for newies and how to make the wisest move forward first time.Thanks!
Hi guys,
Like the rego plates say, Melbourne is “the place to be” – not enough houses for everyone makes real estate in Melbourne a great investment. I’d go for anything within 15kms of the city and near a train/tram line.
As for the FHOG, have you checked that you guys are eligible?
Good luck!
starbud wrote:Hi all,The information you get from these forums is unreal – some of you seem to have so much insightful knowledge to pass on. We really need some guidance from you professionals out there……………………..
We are a young kiwi couple living in Aus, and have saved up $30K so far for a deposit SOMEWHERE. The end goal is to have CF+ IP's with a buy and hold scenario over the long term, but we cant decide where to buy (or how to find the appropriate information in NZ as we can here).
Ideally we want our own home, but are we right in thinking that it would be best to use our hard earned and long time savings for a deposit on a cheaper IP first, then buy our own PPOR later?
The pros for NZ are that;
-NZ is cheaper
-our AUD deposit will equate to more in NZD once converted
-there are (probably?) more renters in NZ compared to here as its harder to buy in NZ with their stricter lending criteriapros for AUS are;
– FHOG here
– again guessing – that property here would increase in value faster than NZ (or are we totally speculating here?)
– we'd need a 30% deposit if buying in NZ which would take an eternity to save for!Im sure there are a far more pros/cons that we havent covered but these are the main points we focus on.
I've seen a few investors here that have IP in both Aus and NZ, so wonder if anyone can shed some light on what they think is a wise move for newies and how to make the wisest move forward first time.Thanks!
Hi Kiwi
First question, do you plan to move back to nz in the next 12 months? if yes then flick your cash back to nz $30k will turn into $40k, current rate $1.28 2 weeks ago $1.32 $1500 lost already, average is $1.10 $1.20
I would make the property ppor nz or oz to start with, you are elligible for fhog if either of you have not bought in oz before. doesn't matter if you only arrived yesterday.
at first when I started reading your post I thought you were from auckland living on the gold coast (I am sure u are on the the coast) but then when you said nz is cheaper than oz I thought maybe your some where else.
your correct there are more renters in nz but that doesn't mean nothing , either way there is always people needing to rent or buy.
your correct again I also beleive oz will increase faster than nz but there's a few more bargains to be had in nz, and the correct property will increase at a solid rate long term depending on where you buy and if you know the area, oz will also go solid but you need to know the areaoz is steady today nz is not
30% deposit don't know where that came from unless your talking commercial, but you may be correct at 30% as I havnt been back in a while.
Unlike nz, you will have to pay stamp duty in oz which cancels out the FHBG.
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