Invest It

There is no time like the present to consider owning an investment property. If you have some extra cash flow and are interested in making your money work for you, earning a nice side income, an investment property may be something you could consider.  There are some important factors to think about if you are leaning in this direction. We at Own It Mortgages have the answers to your questions about investment properties!


Location, Location, Location

When considering purchasing an investment property, location is very important. What would renters be looking for in a place? Most want the flexibility of being close to public transportation, walk to dining, shopping and other amenities. Is the property in a safe neighborhood? Is it in a place where you could improve it, and the resale value will be worth it? Up and coming places such as Auckland and Christchurch are great examples of places people are looking to relocate. Pay attention to where the property is for the best return on your investment. Also, the nicer the area, the higher the rental income will be. That's more money in your pocket!

Type of Home and Condition

There are many house styles to consider when investing. Popular choices are bungalows (one level, porches, usually three bedrooms, built in the early 1900's-1960's.) Or there's the 1970's style- (boxy, plain-may need lots of upgrades/curb appeal that attract renters). Cottages built in the 1900's (charming, high ceilings and large windows-beware-plumbing and electricity need to be updated). Also of note, some timber used in house building from the 1990's-early 2000's was not of the best quality. Consider hiring an inspector to check for water damage.  Assess how much money it would cost to make repairs and upgrades and determine whether it's worth your time and effort and would turn a profit. 

How Much Is Required To Put Down?

Most lenders require 20% down on investment property.

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  • Catherine and Esera

    My partner and I were considering buying a house as we were paying a lot for rent, and we were due to have our first baby. Lorna welcomed us into her office and was so easy to talk to. She made us feel comfortable straight away. We knew nothing of the process of buying a house so it was a relief to know that Lorna would handle everything. And she did help with everything - from helping us with Kiwisaver, housing subsidies and lawyers, to drawing up a budget, insurances and our wills. I really felt that Lorna fought for us, making sure that we got the best deals around, she really looked after us. Lorna kept in constant contact with us, making sure we fully understood each process. I will always appreciate the wonderful experience we had buying our house, not only because we are homeowners, but because the process was made so easy with Lorna and the wonderful team at Prosper.'

    Catherine Kiel and Esera Filipo

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