First property decision

Monique asks:
(updated on Friday, March 18th 2016)

My partner and I are first home buyers in Hamilton. We are both 32 and have a combined deposit of around $140,000 (+ some to spare). We are both open to individual pursuits, however we realise there is more buying power combining our money. Should we invest in our own home in an area with good capital growth or should we focus more on purchasing an investment rental? We are paying $240 total in rent, so we are saving money, and we have the chance to purchase the house for potentially a very good price in around six months. I feel the market is moving too fast to wait though!

Our Experts Answer:

If the market is moving really fast, but you can purchase at a great price, maybe look to lock the price down now with a long settlement. That way you can get the benefit of any capital growth, but also continue to look to save cash in the meantime. 

Heartland Bank - Online 1.99
HSBC Premier 2.25
Kainga Ora - First Home Buyer Special 2.25
ANZ Special 2.29
Westpac Special 2.29
ICBC 2.45
SBS Bank Special 2.49
The Co-operative Bank - Owner Occ 2.49
BNZ - Classic 2.49
ASB Bank 2.49
TSB Special 2.49
HSBC Premier 2.35
Heartland Bank - Online 2.35
ICBC 2.45
TSB Special 2.49
SBS Bank Special 2.59
ASB Bank 2.59
Kiwibank Special 2.65
China Construction Bank Special 2.65
The Co-operative Bank - Owner Occ 2.69
AIA 2.69
Westpac Special 2.69
HSBC Premier 2.89
SBS Bank Special 2.99
The Co-operative Bank - Owner Occ 2.99
AIA 2.99
Westpac Special 2.99
ICBC 2.99
ASB Bank 2.99
China Construction Bank Special 2.99
BNZ - Classic 2.99
TSB Special 3.19
Kiwibank Special 3.19
Heartland Bank - Online 2.50
Resimac 3.39
Kiwibank 3.40
Kiwibank - Offset 3.40
Kiwibank Special 3.40
Bluestone 3.49
Select Home Loans 3.49
ICBC 3.69
Heartland 3.95
The Co-operative Bank - Owner Occ 4.40
The Co-operative Bank - Standard 4.40