It was interesting to read the article in the New Zealand Herald on who actually owns residential property in New Zealand. Around 1/3 of all residential property is owned by owner occupiers - people who live in the property they have purchased. Another 13% is owned by people who have two homes – so this would include those who have a holiday home or one investment property. A further 6% are owned by people who have three properties, therefore you can make the assumption that some people in this group are planning for their retirement by investing in property.
There are great opportunities for increasing your wealth through property. Two popular ways of doing this are:
1. Improve the value of your current property. Upgrade, add an extra bedroom or living, modify and invest in your own property for greater value.
2. Use the equity in the property you own to purchase a second property as an investment reducing the mortgage over a few years, allow for capital gain with the view of then using the equity to purchase more properties and increase wealth.
If you would like to discuss these options, please feel free to call any one of our experienced salespeople. They deal in property, they work with people who can assist you and they can get you on your way to greater wealth through property ownership.