There are people all around New Zealand who find it increasingly more difficult every single year to get themselves onto the property ladder and so if you get any kind of an opportunity from a lending institution then you should grab it with both hands. You could continue to rent and give all of your hard-earned cash over to a complete stranger or you could invest in your own property and start planning for your future and the future of your family as well.

There are a number of residential property developers in Auckland who are building homes at this very time in many different shapes and sizes and this has made finding the home of your dreams a lot easier. If you have been somewhat reluctant to take the plunge and to commit yourself to a mortgage over a 25 or 35-year period then you should know that there are many upsides for doing so and the following are just some of those.

  • You know exactly what you’re paying – If you are smart then you will take out a fixed-rate mortgage that is based over a number of decades and this way you know exactly how much that you have to pay every single month. If you continue to rent, then your landlord can make many rent increases over the years and this can really eat into your savings.
  • You are always building equity – Over time as you begin to pay down your mortgage, the value of the property will be more than what is owed and this is called your equity. You can use your equity to borrow more money to make some much-needed improvements to your property or you can invest in another property.
  • It will increase in value – We only have past figures here in New Zealand to go by but the price of property has been rising steadily over the past 30 to 40 years and doesn’t show signs of slowing down. This means that you are creating a nest egg for yourself in your retirement years and maybe even something you can leave to your kids.

This is why you should try to get yourself onto the property ladder as soon as possible because not only will you be building equity for yourself but you will have your very own home at last.