Nor'West News: March 24, 2020

20 Tuesday March 24 2020
Latest Canterbury news at starnews.co.nz
NOR’WEST NEWS
RAY WHITE PAPANUI NEWS
When is a good time to buy an investment property?
Interest rates are at an all time low
which in my opinion means that there
is no better time than right now
to purchase your first investment
property, or add to your existing
portfolio.
Coupled with the low interest rates,
we are also noticing that there are
quite a few investors cashing up, which
means there are more fantastic rentals
coming to the market, and quite a few
with really great sitting tenants.
While there is no doubt that recent
legislation requirements for rental
properties has increased the cost
for landlords, with upgrading of
insulation, heating, ventilation etc,
it can be argued however that these
things actually improve the value of
your property in the long run, so it is in
actual fact well spent money.
Although we are yet to see any
significant rise in rents in Canterbury
we are noticing small increases to
help cover the extra costs landlords
are incurring through upgrades and
increases in other costs like rates and
insurance. I guess you could say that
rental properties have their own kind
of inflation – when costs increase to
landlords, to ensure they remain a
viable investment, costs of rents must
also rise.
There are of course many ways you can
invest in your future, term deposits,
shares and a multitude of other options
are now easily accessible, however
with interest rates as low as they are, I
believe that owning rental property has
never looked better.
My opinion is obviously somewhat
biased, however this is echoed by many
other successful property investors
throughout the world. “The wise
man or wage earner of today invests
his money in real estate”, Andrew
Carnegie.
Katrina Green,
Operations Manager
Property Management
027 606 0030
Vanessa Golightly
Licensee Agent &
Business Owner
027 664 9292
How to Keep Things Under Control When
Buying Property
“The happiest people don’t have
the best of everything, they make
the best of everything”
Having been in real estate my
entire working life I have met
people with a little money, a lot
of money, a big deposit, a begged
and borrowed deposit, inherited
funds, worked two jobs funds,
worked overseas funds, worked
their way up the ladder funds,
missed out on family time funds, still
driving the same car funds, invested
wisely funds, pooled with friends
funds and helped out by mum and
dad funds.
One thing I can tell you, regardless
of how you pulled your purchasing
money together and no matter
how much you have to spend you’ll
naturally be yearning for the houses
just out of your budget. If only you
had $400,000 to spend instead
of $380,000…$550,000 to spend
instead of $500,000, $1.2 instead of
$1M and so on. I offer the following
piece of advice to those of you
looking to buy property and that is
whatever you are pre-approved to
spend shop considerably UNDER
it! For example if you are preapproved
to $400,000 instead
look at houses in the mid $3’s
range, if you are pre-approved for
$900,000 shop from $750,000 up.
Feature Property
This way you can confidently shop
for property within your budget
rather than hoping by some miracle
a $430,000 house will be sold to
you for $399,000, or a $970,000
home for $900,000. Further you
will be able to comfortably afford
the mortgage and you can always
add value and improvements to
a lesser value property in future.
Sometimes a little out of the box
thinking when it comes to real
estate can go a long way and in this
case using the above advice could
save you from too many frustrations
and disappointments when looking
to purchase your next property.
Vanessa Golightly,
Business Owner
and Licensee Agent
Ray White Papanui
027 664 9292
Recently Sold
Ronald McDonald House
Help us support this amazing charity this
March!
The Ray White Papanui team has been
challenged....Challenged by Ronald
McDonald House to walk, run, bike or swim
at least 210KM this March! Why 210KM
you may ask? Because every month New
Zealand families travel an average of at least
210KM for their child to receive hospital
treatment away from home.
A few things you might not know about
Ronald McDonald House
• They give families with a hospitalised
child what they need most – each other
• Every year they offer over 4,300 families
across New Zealand accommodation
and support free of charge. This helps to
relieve stresses like paying for a place to
sleep near the hospital, organising family
meals and needing a friendly ear to listen
on tough days
• Our local RMH is in Cashel Street and
they have been here for 17 years
• Any family whose child is traveling here
The Ray White Team
Stuart Morris
Business Owner
& Auctioneer
027 422 6395
Tracy Thomson
Licensee Salesperson
027 440 3035
Barbara Redway
Licensee Salesperson
027 432 1900
Olivia Hendry
Executive Assistant
Claire Morris
Licensee Agent &
Business Owner
027 662 4822
Katrina Green
Operations Manager
Property Management
027 606 0030
Tania Ikin
Licensee Salesperson
022 509 2755
Ashleigh Pattullo
Licensee Salesperson
027 865 9672
Estelle Schuurman
Property Manager
Allie McConnell
Property Manager
118 Avonhead Road, Avonhead
Tracy Thomson
531 Harewood Road, Bishopdale
Vanessa Golightly
476 Wairakei Road, Burnside
Tracy Thomson
Level 1, 7 Winston Avenue, Papanui
Phone (03) 352 0567 | rwpapanui.co.nz |
/RayWhitePapanui
Morris & Co Limited | Licenced REAA 2008