HOMEOWNERSHIP ... on your terms
In an era where traditional notions of homeownership are evolving, the journey to owning a piece of real estate is no longer a one-size-fits-all approach.
The landscape has shifted, with late 20s to mid-30s trendsetters and professionals redefining what it means to own a home. Gone are the days when the dream was solely about paying off a mortgage before retirement; today, it's about getting on the property ladder in whatever shape or form that may take. Recent statistics in New Zealand underscore this paradigm shift, showing that first-time buyers are leading the charge in homeownership. They're exploring innovative avenues, from renting out properties they own to co-owning with friends and leveraging platforms like Airbnb to maximise their investment. One company at the forefront of this revolution is DUVAL, offering opportunities for aspiring homeowners to secure properties off the plan. Buying off the plan allows individuals to lock in today's prices, potentially walking away with equity upon settlement. Moreover, it provides the flexibility to organise finances and build up deposits before completion, offering a strategic advantage in a competitive market.
Recent government policies, such as the bright-line test, have levelled the playing field for investors of all ages. With the requirement to own a property for only five years to avoid taxation upon sale, compared to ten years for established homes, the barrier to entry has significantly lowered. However, the evolution of homeownership extends beyond purchasing strategies. Today, home loan lending has diversified, with individuals tapping into resources like the "Bank of Mum and Dad" and forming joint partnerships with friends to access the property market. These collaborative efforts present opportunities for shared responsibilities and rewards, making property ownership more attainable than ever before. The narrative surrounding property ownership must evolve to reflect this newfound accessibility and flexibility. It's no longer a distant dream but a tangible goal within reach, with diverse paths to success.
DUVAL.CO.NZ
RADIANCE | REMIXMAGAZINE.COM
PAGE 210
