Calculators and Handy Tools.
Help and food for thought for your next move.
Your first home isn’t an end point – it’s the start of a journey. Once you sign on the dotted line for one piece of real estate, you can start looking at where you will live next. It might be as part of an investment strategy, or you may simply have one eye on upgrading to a larger home when you decide to start a family.
Whatever the reason, there are some key questions you will want to ask an Auckland mortgage broker about buying again:
Is buying a second home in Auckland easier?
In short: yes. You will have a repayment history on your first mortgage, and most likely some decent equity in the property too. You can take advantage of this position and get a home loan befitting of you and your hard work.
Buying a home again in Auckland means you don’t just have the expertise of an established mortgage broker – you have your own knowledge too.
Are you selling and buying property in Auckland as part of a larger plan?
Even if your decision to buy a second home in Auckland is based on practical reasons like space or price, you can still develop a smart wealth management strategy. The structure of your home loan will play an important role in how you are planning for your financial future.
Your Auckland mortgage broker can help you find a mortgage that doesn’t just get you a great second home – it starts to set you up for later in life. Your second home loan does not have to last 30 years, and you should give careful thought to paying less now and more later, and maintaining your flexibility.
Do you buy or sell first?
This is a difficult question, as much of it depends on the market. Ideally, you will be selling and buying property in Auckland almost simultaneously, so you are in full control of the situation. This is a predicament where the use of professional advice can help you steady the ship and come out on top.
Because you have more borrowing power when buying a second home in Auckland, you can take stock of everything. Don’t just shop on rate – look at the fees and how they impact you as well. As always, the advice of an established mortgage broker in Auckland can help you shop smarter and buy a second home with ease.
Mortgage People specialises in helping people get the most out of their loan right across the property ladder – when you are ready to buy again, get in touch.
What you need to know when buying again.
Home lending news and tips for Kiwis moving on.
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