SearchBuy cashflow, capital gain or a home?
Vic asks:
(updated on Tuesday, December 24th 2013)
We live in a rental home in Auckland and have $30,000 to invest. Shall we buy a property as an investment rather than buying one to live in? If buying a rental, shall we buy for cashflow or capital growth?
Our Experts Answer:
Hopefully you already applied for a pre-approved mortgage for your first home of up to 95% prior to recent LVR changes. Buy for capital growth. Your $30,000 deposit will be sufficient to buy an average home or unit to live in the central suburbs of Auckland. If you have extra rooms you could let them out to boarders to increase your cashflow to help pay the mortgage.
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