Strategy for inheritance

Our Experts Answer:

You need to work out your goals and also what position each option will leave you in. You may want to start by commissioning a valuer who may then be able to give you an idea on how the numbers stack up for each of the options. You should also discuss with a property manager what rental expectation they would have for each option so that you can run some numbers off the back of this to see which option works better for you.

You haven't mentioned where this property is so the strategy of this is dependent on where the property is. For example, if the property is in Auckland then land is at a premium so building all three would definitely be worth considering. But if the property is somewhere where the land is priced much more cheaply, there is not the same overall demand so then this may not be as good an idea.