Want to buy a rental property?
Many people feel that buying a rental property is an important part of their own financial success story and are keen to know how to do this.
What is a rental property?
What types of rental properties are there?
Townhouses – Townhouses, sometimes used interchangeably with terraced houses, can refer to properties that are semi-attached or attached to others. A townhouse typically has access from the ground floor, however there are different interpretations of the word. Townhouses seem to balance the attractiveness of a ground floor house with the cost advantages of an apartment. It may be possible to get townhouses at affordable prices in CBD-style districts in certain towns or cities, as well as in city fringe areas. They are also better received by tenants due to the fact that they usually have ground floor access
Apartments – An apartment usually refers to a dwelling where you own one level of it. Apartments can range in the number of storeys they have from as few as 3 up to 10, 20, or even more. Although apartments are typically smaller than freestanding houses, they often represent a chance to buy in a highly sought after location. Many people own apartments as rental properties in busy central business districts because they believe there will be high demand from businesspeople and students who find the proximity of the property to their workplace or school advantageous.
There are also other types of rental properties, or variants. These can include, but are not limited to: other types of dwellings, studios, flats, boarding houses, and so forth.
Can I afford a rental property? How do I use the equity in my existing home?
A lender or bank is likely to also consider your income and expenditures. For example, if they deem your income not enough to sustain a rental property, even though the rental income may match or exceed the mortgage payment, you could be rejected. Therefore it’s worth talking to a financial adviser about how this, and other factors and considerations, work.
What deposit is required for an investment property?
In the case that you already own property, you may not need a ‘cash deposit’ – it is possible to leverage, or transfer, the equity from your existing property.
Can I buy an investment property if I don’t already own a house that I live in?
HELP WITH HOME LOANS, KIWISAVER AND INSURANCE
Just Financial is a professional financial adviser service and helps you with buying a home, using your KiwiSaver, insurance and more. Ask us to help you with your financial goals.
- Home loans
- Using your KiwiSaver
- Saving money on your mortgage
- Refinancing or debt consolidation
- Low interest rates
- Life insurance
- Mortgage protection insurance
- First home buyers
- Help when the bank says no
- Construction loans
Get Help From An Award Winning Financial Adviser
Want to buy a house? Looking for an amazing mortgage broker? Buying a house can be a challenging process. With the right advice, this can be made easy. Just Finance provides a professional mortgage broker service that can help you right throughout New Zealand. From first home buyers, to investors, as well as people who already have a house and want to refinance, there are many ways we help.
Our results speak for themselves. Our happy customers tell us they love our great service!
We were waiting for the answer, and Arthur said, yes! We were very happy. Everything went smoothly! It’s a dream come true.UiliAuckland
So happy to have this approval. Originally from other places I could not get an approval. What you said you delivered & gave us. We are so happy to have a house. Thank you!RameshHamilton
You May Also Be Interested In
Request a Call Back?
Looking to apply for a home loan, refinance, debt consolidation, insurance or KiwiSaver? Contact us for more information
Send us a message
FOR ANY ENQUIRY