skip to Main Content

Bargains seldom reap rewards


Housing bargain?

In spite of the coronavirus pandemic, demand for property in New Zealand is still high. Buyers are keen, competitive and mostly well-informed.

Because vendors know this, you can be fairly certain that properties being offered at bargain prices will have a catch – if not several.

You might think you are saving $10,000 or $20,000 up front, but at what cost long-term?

Cheap isn’t always better, especially if substantial upgrades to a house or commercial premises are needed. Unless you are a DIY whizz, doing up a property can take you down a financial rabbit hole, especially when the inevitable surprises present themselves.

Properties that no-one else wants today will probably be difficult to sell five years down the track.

Rather than focusing on the asking price, consider properties with above average capital growth potential – that’s where long-term financial benefits occur.

Price is what you pay but value is what you get, so my advice is to buy the best property you can afford.  Buying a ‘bargain’ might give you a one-off bonus, but it is unlikely to deliver you long-term rewards.

If you want to have a chat at any time about this common rental market mistake or other property investment issues, do get in touch. Also, please do connect with me on LinkedIn.

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top