The best neighborhoods to invest in property in Auckland

The best neighborhoods to invest in property in Auckland

Auckland is a bustling city in New Zealand that's constantly growing, making it a great place to invest in property. There are many different neighborhoods to choose from, each with its own unique selling points. Here are some tips on how to purchase investment properties in Auckland

1. The best neighborhoods to invest in property in Auckland

When it comes to investing in property, the best place to start is by doing your research on Auckland Real Estate. Auckland is a big city with many different neighborhoods, each with its own unique characteristics.

Ask yourself what you're looking for in investment properties - do you want long term tenants, or are you more interested in short term holiday letting?

Tenants that stick around the longest tend to be families with children going to the local schools so suburb locations can be a great buy, Look for at least 3 beds. Holiday lets are best based nearer the cities best attractions and transport options where holiday goers can fit a lot in in a small space of time - like Auckland CBD - these could be anywhere from one to four beds+

2. Why the market is constantly growing

Auckland is a desirable place to live, and its popularity is only increasing. The city is constantly growing and expanding, making it a great place to invest in property. Additionally, the market is stable due to the difficulty with expansion on 2 sides (water!) and there are many different neighborhoods to choose from, making it easy to find an investment that's right for you.

3. How to research the neighborhoods you're interested in

One of the best ways to get to know a new place is by doing your research ahead of time. Here are a few tips on how to research the neighborhoods you're interested in:

Check out online resources. The internet is a great place to start your research. Look for blogs or articles that provide insight into what it's like to live in the area you're interested in. You can also find helpful information on local government websites and real estate sites.

Search online listings and portals where you can see what nearby places have sold for giving you an indication of what you might need to pay for yours. Be sure to mind sale dates, prices from 2008 are very different to 2022. You will be able to pull up a short list of properties by choosing the amount of beds and baths you want, you can even sort them by price to knock out any unsuitable. Investor type properties often will even have the number rent figures included in the ad. Consider that with some properties you could also considerably raise the value by adding new bedrooms yourself and doing up bathrooms. Check out the photos carefully to see if theres room for improvement.

4. What to look for when buying investment properties

When it comes to investing in property, there are a lot of factors to consider. Location is obviously a key consideration, as well as budget. But it's also important to think about the level of involvement you want to have with the property and its tenants. Do you want to be hands-on(in which case you want to be located fairly nearby, or would you prefer to leave the day-to-day management to someone else?

These are just some of the things to keep in mind when considering investing in Auckland property. It's important to do your research and make sure you're making a wise investment before taking the plunge. But if you do it right, investing in property can be a great way to build your wealth over time.

5. How to get pre-approved for a mortgage and find out how much you can borrow

Getting pre-approved for a mortgage is an important first step in the home buying process. By knowing how much you can borrow, you can narrow your search to homes to buy, that are within your budget price.

The process of getting pre-approved is fairly straightforward. First, you'll need to submit some basic information about your finances, including your income, debts, and assets. Once this information has been reviewed, the lender will provide you with a pre-approval letter that indicates how much you can borrow. This letter will give you a better idea of what kinds of homes you can afford.

6. What's involved in making an offer on a New Zealand property

When you've found the perfect property for sale, it's time to make an offer. But what exactly does that entail? Generally speaking, making an offer involves three steps: negotiation, due diligence, and commitment.

The first step is negotiation. This is where you'll discuss price and other terms with the seller through your Real Estate agent. It's important to bring your A-game to the negotiation table, as the better you do here, the more money you'll save.

The second step is due diligence. This is where you'll investigate the sale property to make sure it's everything you want it to be. You'll get a home inspection and make sure there are no hidden problems that could sour the deal later on.

The third and final step is commitment. This is where you'll sign the purchase agreement and put down a deposit on the sale property. Once that's done, the property will be officially off the market and yours to call home. So, those are the three steps involved in making an offer on a property. With a little preparation, you'll be ready to take this important next step in your journey to property investment.

If you're buying via auction the process is a little different.

Auctions can be a great way to snag a deal on a property, but the process is different than buying through a traditional sale. If you're planning on bidding on a property at auction, it's important to do your homework ahead of time. Start by researching the property and attending several auctions to get a feel for the process. It's also a good idea to get pre-approved for a loan so you know what price you can afford to bid to. When the day of the auction arrives, be prepared to move quickly. If your bid is accepted, you'll need to put down a deposit and sign the sales contract on the spot. Remember, once your bid is accepted there's no going back, so make sure you're absolutely certain you want to purchase the home before placing your bid. With a little preparation, buying at auction can be a great way to snag a deal on your dream New Zealand property investment.

Now that you know a little more about what to look for when buying investment property in Auckland, it's time to get started on your own search. A great place to start is by talking with a local licensed residential real estate agent.
Keep the tips we've shared in mind, do your research, and most importantly, have fun! When you find the right home, the process of buying it will be much smoother.