Page 4 - Newsletter November 2020_Neat

it dips, until you sell it.
When is right to buy?
I wouldn’t suggest buying an
investment if you’re only a couple of
years into your first mortgage. I’d wait
until you’d knocked off a bit of the
mortgage, but not all of it.
If you wait until you’ve paid it off, it will
have taken another 10 years, and
house prices will have gone up again.
I think you have to look at your
personal circumstances. Ask yourself,
‘If I’m earning a good income, where
am I going to put my money? Yes, I
might put it into Kiwisaver, but I can’t
get that until I am 65, and there are
some restrictions around that. What if
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Thinking of selling? Contact us for a FREE appraisal!
Chris 0274 960 959
Karen 0272 961 449
I get to 55 and think, I want to retire?
What if I get made redundant?’
If you’re in a pandemic and you lose
your job, at least you have
something to sell.
In a crisis, people who have a rental
property don’t have to sell their
family home, but they could sell their
rental, use the balance to pay off
their mortgage and still have some
change.
Using leverage
The good thing about rental
property is that you can use
leverage (borrowings) to buy. You
don’t even have to have a deposit if
you’ve got enough equity and meet
c.grantham@barfoot.co.nz
k.mcgehan@barfoot.co.nz