Buying a rental property
If it’s too expensive to buy in the city where you live, buying a property elsewhere and renting it out may be a good option for you.
4 minute read
Paige & Sam’s story
Paige and her husband Sam had always wanted to own their own home, but had thought it was out of their reach, until Paige’s parents seriously suggested it during a weekend visit. After months of trawling through open homes and online listings in Auckland, the “Kiwi Dream” of buying a 3-bedroom place with a backyard seemed more distant than ever, so the couple decided to look elsewhere in New Zealand.
Tauranga was a familiar city where Paige and Sam found they could get a brand new 4-bedroom home for considerably less than the run-down properties they’d been looking at in Auckland. For them it was a no-brainer.
The plan now is to rent out the house in Tauranga whilst living in Auckland close to their friends, family, and jobs. When the time’s right they plan to sell the Tauranga property to help fund a deposit on an Auckland apartment.
For tips and tricks from BNZ property and finance experts, as well as BNZ customers, about buying a rental property, you can watch this video.
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This content has been provided for general information purposes only and does not constitute, and is not intended as, personalised financial advice or as a replacement for legal advice. BNZ strongly recommends you seek advice specific to your personal financial or legal situation from a qualified adviser. The views expressed by the individuals in this content, including the speakers during the Buying Outside the Box events, are those of the individuals and speakers and do not purport to represent the views or policies of BNZ. No representation or warranty is made as to the accuracy, reliability or completeness of any statement made in this content. Neither BNZ nor any person involved in the preparation of this content accepts any liability for any direct or indirect loss or damage arising out of the use of, or reliance on, all or any part of this content.