Buying a rental property
If it’s too expensive to buy in the city where you live, buying a property elsewhere and renting it out may be a good option for you.
4 minute read
Paige & Sam’s story
Paige and her husband Sam had always wanted to own their own home, but had thought it was out of their reach, until Paige’s parents seriously suggested it during a weekend visit. After months of trawling through open homes and online listings in Auckland, the “Kiwi Dream” of buying a 3-bedroom place with a backyard seemed more distant than ever, so the couple decided to look elsewhere in New Zealand.
Tauranga was a familiar city where Paige and Sam found they could get a brand new 4-bedroom home for considerably less than the run-down properties they’d been looking at in Auckland. For them it was a no-brainer.
The plan now is to rent out the house in Tauranga whilst living in Auckland close to their friends, family, and jobs. When the time’s right they plan to sell the Tauranga property to help fund a deposit on an Auckland apartment.
For tips and tricks from BNZ property and finance experts, as well as BNZ customers, about buying a rental property, you can watch this video.
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