Introduction and advice needed

[orlando]

Hi all,

we are moving to NZ in September with our 2 boys. We will be settling in the Wellington area. We are both working as Nurses and would like to invest in property once there.

I bought a couple of books and Ron's dvd and have learnt quite a good deal from it.

I do however have a couple of questions.

Would it better to rent and then buy a house to rent out while still living in the rental?

Which mortgage do we go for?

Anybody got a rental in the Wellington area

Our main long term aim is to become property investors.

Hope to learn and contribute to this great forum regularly.

Cheers

 

[quentin]

Hey Orlando,
Welcome to the forum RMJB, and eventually welcome to New Zealand

That?s a fair few questions, and you will find plenty on all of those topics as you trawl through this site.

As for your first question it is fairly much a matter of personal taste and situation, there are advantages both ways. Personally I prefer to own my house than rent, it gives me control and prevents me from needing to move unless I chose to. That said personally we are renting at the moment since we aren't planning on being here more than 3 years and in the current market it is unlikely that a property which we buy now is likely to increase in value enough to cover the costs of purchasing and disposal.

In terms of which mortgage, I would split between the majority fixed and a small portion revolving credit. Keeps your interest rate low, but keeps you with some flexibility, again though it depends on your circumstances.

Cheers