When you decide to get involved in buying investment property in New Zealand, it's important to keep an eye on the wider economy. While there are certain things that can have a direct impact on your buying strategy, like interest rates and home prices, there are many other factors that you shouldn't overlook.
With this in mind, items like Finance Minister Bill English's latest release about our country's general economic performance are a sound reminder of our national economic health.
While Mr English was concerned about some areas, such as growth in dairy, he noted that inflation remained steady. When coupled with a strong NZ dollar and more employment, he believes that Kiwis will find they have more spending power at the moment.
If that sounds like you, maybe it's time to start putting that money where your future is – and think about investment! Planning and building for the future is an important piece of planning that might not be at the front of your mind when the going is good, but if you start saving early, you'll be prepared if economic conditions ever turn for the worse.
What's more, the recent Consumer Price Index showed that the cost of housing and household utilities rose by 1 per cent during the September quarter – by getting in early on a property, you might be able to see some really great gains in value over the coming years.
Whether or not the financial odds are currently in your favour, there are always great ways to prepare yourself financially. This doesn't just mean buying a property, it means seeking out the right investment advice and getting a team of professionals together who can help you shape your financial future with confidence.
Here's to your financial independence!
Daniel Carney
Authorised Financial Adviser / Investment Property Expert