Announcement: Government Have Scrapped the New Zealand Home Owners Grant

Today, the government announced the scrapping of the New Zealand Home Owner Grant. This news is understandably disappointing for many aspiring homeowners who were counting on this support to make their dream of owning a home a reality.

As someone who is passionate about helping people achieve homeownership, I want to acknowledge the frustration and concern this decision might cause. However, it's important to remember that while this grant was a valuable tool, it was just one of many paths to homeownership.

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All is not lost! There are many alternative ways for people to achieve their goal of getting into their first home! See just a few below:

 

KiwiSaver First-Home Withdrawal:Leverage your KiwiSaver savings to make a significant dent in your deposit. Many have successfully used this to purchase their first home.

First Home Loan: Provided by select lenders and underwritten by Kāinga Ora, this option requires a lower deposit than traditional loans, making homeownership more accessible. 

Family Assistance: Consider a family gifting arrangement or shared ownership to help boost your deposit and secure a mortgage.

Budgeting and Savings Plans:Implementing a strict savings plan and seeking financial advice can significantly speed up your journey to saving for a deposit. 

Research Government and Community Programs: There are various local and national programs aimed at assisting first-time buyers. Keep an eye out for new initiatives and subsidies.

Come and chat with one of our team:  At Du Val we have a dedicated team ready to chat things through with you and connect you with the right professionals to get the job done.

While the removal of the Home Owner Grant is a setback, it's important to stay informed and explore all available options. Homeownership is still within reach with the right planning and resources.

Chat with us to navigate these changes together and continue working towards your homeownership goals.

For further details, please visit the full article on MSN here.

A Guide to Townhouse Investment in South Auckland

As property developers in Auckland, DUVAL constantly monitors the housing market trends and opportunities. Today, we're sharing valuable insights on why investing in townhouse properties in South Auckland is a smart move for both seasoned and novice investors.

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Why South Auckland?

 

South Auckland has emerged as a goldmine for property developers and investors due to a combination of key factors:

  • Government Infrastructure Investment: The government's ongoing commitment to infrastructure development in South Auckland is fostering rapid growth and creating a conducive environment for property appreciation.
  • Immigration to New Zealand: With New Zealand being an attractive destination for migrants seeking a high quality of life, South Auckland has witnessed a sharp increase in population influx. This growing demographic translates to a high demand for quality, affordable housing options like townhouses.
  • Employment Opportunities: South Auckland is not only a residential hub but also a thriving economic centre with a range of employment opportunities. Proximity to job centres makes townhouses in this area even more desirable for potential tenants or homeowners.

Benefits of Investing in Townhouses

 

  • High Rental Yields: Townhouses in South Auckland typically offer strong rental yields, making them a lucrative option for investors seeking passive income streams.
  • Capital Growth: The combination of increasing demand and limited supply makes townhouses in South Auckland an attractive option for capital growth potential.
  • Diversification: Townhouse investments can provide a diversification opportunity to your property portfolio, spreading risk across different types of assets.
  • Low Maintenance: Townhouses often require less maintenance compared to standalone houses, which can be appealing for both investors and tenants.
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Strategic Tips for Successful Investment

 

  • Location, Location, Location: Choose townhouse developments in strategic locations with access to amenities, transport links, schools, and employment hubs.
  • Quality Construction: Ensure the townhouses are built to high standards to attract quality tenants or buyers, thus safeguarding your investment.
  • Market Research: Stay informed about market trends, rental rates, and property values in South Auckland to make informed investment decisions.
  • Professional Advice: Seek guidance from real estate experts, financial advisors, and legal professionals to navigate the property investment landscape effectively.

Investing in townhouse properties in South Auckland presents a compelling opportunity driven by government infrastructure investment, immigration trends, and employment opportunities. With careful research, strategic decision-making, and a long-term vision, you can capitalise on the dynamic property market in South Auckland for profitable returns.

For more information on townhouse investment opportunities in South Auckland, contact Du Val Property Group today. Make the right move and secure your financial future with strategic property investments in one of Auckland's most promising regions.

Check out one of DUVAL’s latest townhouse developments here:  https://www.waterfordpress.co.nz/du-val-group-mountain-vista-estate-mangere/

Unlocking 40 Years of Property Insights: Prime Investment Destinations in New Zealand

Embarking on a journey through four decades of New Zealand's property market performance unveils a tapestry of investment opportunities backed by statistical evidence and historical trends. By delving into specific percentages and performance data from reputable sources, we reveal the top regions where investors can potentially reap long-term growth and prosperity.

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Exploring the Top Property Hotspots in New Zealand

 

AUCKLAND: A Hub of Investment Potential

Auckland has consistently showcased robust average annual growth rates of 7-9% in property values over the past 40 years, solidifying its reputation as a prime investment destination in New Zealand.

Insights from the Real Estate Institute of New Zealand (REINZ) and CoreLogic provide a comprehensive view of Auckland's property market trends, highlighting its sustained growth and resilience over the years.

WELLINGTON: Stability Meets Growth

Wellington has maintained a steady growth trajectory, with average annual increases of 6-8% in property values over the past four decades, making it an appealing choice for investors seeking reliable returns and potential for growth.

Detailed statistics from the Wellington City Council and industry reports offer valuable data on Wellington's property market performance, emphasising its appeal to investors looking for stability and growth opportunities.

While Auckland and Wellington undoubtedly stand out as stable investment destinations in New Zealand, other regions across the country offer their own unique opportunities for savvy investors. Christchurch, for instance, has undergone significant revitalisation post-earthquake, with over NZ$20 billion invested in rebuilding efforts since 2011. With its resilient economy and burgeoning construction sector, Christchurch continues to attract investment interest, boasting a Gross Domestic Product (GDP) growth rate of 3.1% in 2020. In the South Island, Queenstown shines as a tourism hotspot, drawing over 3.3 million visitors annually pre-pandemic. Despite recent challenges, the city remains a prime location for hospitality and real estate investment, with an average annual growth rate of 7.7% in the housing market over the past decade. Meanwhile, Tauranga, located in the Bay of Plenty, serves as a vital export hub, handling NZ$9.4 billion worth of goods in 2020 alone. Its strategic location and robust infrastructure make it an attractive option for investors eyeing opportunities in logistics and agribusiness.

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Navigating Towards Optimal Investment Returns

 

As investors navigate the dynamic landscape of property opportunities, Auckland stands out as a beacon of investment potential, offering stability, growth, and enduring value for those looking to make sound investment decisions.

By leveraging the data, following market trends, and considering Auckland as a cornerstone of your property investment strategy, investors can unlock the potential for long-term prosperity in New Zealand's thriving real estate market. Whether seeking growth, stability, or capital appreciation, the historical performance of Auckland positions it as a frontrunner for savvy investors looking to grow their portfolios strategically.

If you’ve ever wondered why at DUVAL Property Group, we only develop property in the Auckland Real Estate market, this article explains it.  The data speaks!  Auckland steals the spotlight, consistently provides the best returns over time for the discerning property investor and presenting greatest potential for long-term stability and growth.

Why Buying Off the Plan is Your Strategic Advantage in Auckland's Real Estate Market

In the ever-evolving Auckland real estate landscape, savvy buyers and investors are continually exploring advantageous ways to enter the market. One such strategy is buying off the plan—particularly when it comes to modern, stylish townhouses like those developed by Du Val Property Group.  Here’s why securing a property off the plan in prime urban settings offers not just a home, but a smart investment opportunity.

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Leveraging Early Buying Benefits in Auckland's Property Market Early Bird Pricing

One of the most compelling reasons to buy off the plan in Auckland is the potential cost advantage. Early buyers often benefit from pre-construction prices, which can be significantly lower than the completed property’s market value. This early investment can result in substantial capital gains by the time the project is completed, as Auckland property prices tend to appreciate over time.

Modern Designs and Sustainability

New developments like those by DUVAL not only adhere to the latest building codes providing modern amenities and designs but also incorporate sustainable building practices. This commitment ensures lower ongoing maintenance costs and a smaller environmental footprint—a significant selling point in today's eco-conscious real estate market.

Strategic Investment in Brownfield Developments

Our focus on developing terraced townhouses on brownfield sites in Auckland is a proactive response to urban sprawl. By investing in such properties, buyers support and benefit from urban renewal and revitalisation efforts that typically lead to surges in local property prices.

Tax and Financial Incentives

In some cases, buying off the plan can offer financial incentives like tax benefits, depending on local property laws and regulations. These can make a substantial difference in the overall affordability and appeal of an investment in the real estate market.

Maximising Returns: Auckland's Property Market Dynamics

 

High Growth Potential

Auckland, a thriving hub for commerce and culture, presents continuous growth in its real estate sector. Investing in a property off the plan in up-and-coming areas assures you are positioned well to capitalise on market growth. As the city expands and develops, properties located in rejuvenated areas are likely to experience enhanced desirability and value.

Long-Term Security

Real estate is a tangible asset that historically appreciates over time. Buying off the plan in Auckland secures a slice of valuable real estate in a major urban centre, providing both short-term gains from rising construction valuations and long-term investment security.

Convenient Payment Structures

Developers like DUVAL often offer structured payment plans that ease the financial burden of buying a property. Typically, a deposit is made to secure the unit, with the balance payable upon completion. This staged payment plan can be more manageable compared to the outright purchase of an existing property.

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Why Choose DUVAL for Off the Plan Purchases in Auckland?

 

At DUVAL, our commitment to excellence and customer satisfaction ensures that every off-the-plan purchase is not just a transaction but a well-supported investment journey. We offer transparency, quality assurance, and ongoing communication throughout the construction process, ensuring that your new home meets your expectations in every way.

For Auckland home buyers and property investors alike, buying off the plan presents a unique opportunity to capitalise on market trends, and engage directly in Auckland’s dynamic growth. Visit our website or contact DUVAL Property Advisor today to find out how you can benefit from this savvy investment strategy in one of Auckland’s prime real estate developments.

Embrace Sustainable Living with DUVAL's Terraced Townhouses in Auckland's Brownfield Developments

Du Val Property Group are at the forefront of transforming Auckland's brownfield sites into thriving terraced townhouses. By prioritising these previously developed areas, DUVAL not only addresses the growing housing demand in Auckland but also champions sustainability and community rejuvenation. Discover the multitude of advantages of investing in a brownfield redevelopment in New Zealand’s most dynamic urban landscape.

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The Advantages of Brownfield Developments by DUVAL

 

  1. Brownfield Sites and Sustainable Development: By developing terraced townhouses on Auckland's brownfield sites, DUVAL effectively utilises existing urban spaces, reducing the necessity to encroach on undeveloped, green lands. This approach aligns with environmental sustainability practices, appealing to eco-conscious home buyers and real estate investors in NZ.
  2. Enhancing Property Values in Auckland: Our developments contribute to elevating property prices Auckland-wide by transforming underutilised plots into premium real estate. Investing in a brownfield development means tapping into areas with potential for significant appreciation, a key consideration for savvy real estate investors and those scoping out houses for sale in NZ.
  3. Auckland Real Estate Market Trends: Keeping a pulse on the real estate market in Auckland ensures that each DUVAL project contributes positively and strategically to the local housing supply. We are well-versed in Auckland property prices, and by focusing on brownfield developments, we ensure our terraced townhouses are both a valuable and a sustainable investment.
  1. Mortgage Calculator NZ – A Useful Tool for Buyers: For those interested in purchasing one of our terraced townhouses, using tools like a mortgage calculator NZ can provide insights into affordability and financing options. This is especially beneficial for first home buyers in Auckland who are navigating the competitive real estate market.  We can then put you in touch with a top notch Mortgage Broker.
  2. Community Revitalisation and Open Homes in Auckland: Each project aims to revitalise communities, turning neglected areas into desirable living spaces. We encourage potential buyers to visit our open homes in Auckland to see the transformation firsthand, understand the local area, and envision life in one of our townhouses.
  3. Real Estate Agents (Property Advisors) in Auckland – Your Guide: Partnering with knowledgeable Property Advisors in Auckland, DUVAL ensures that every potential buyer receives expert advice and thorough information regarding their possible new home in our developments. Our team are experts in NZ real estate and are ready to assist with all inquiries.
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Why Choose DUVAL Terraced Townhouses?

 

Choose DUVAL for an investment that transcends the typical. Our brownfield development projects not only provide beautiful homes but also contribute to the broader goal of sustainable urban development in Auckland. They're an optimal choice for those looking into houses for sale in NZ, appealing to both first home buyers and seasoned investors alike due to their strategic locations and potential for appreciation.

For those interested in the Auckland property market, visiting our open homes, or discussing options with our team, DUVAL offers a portfolio of properties that embody modern living and environmental stewardship.

 

We invite you to explore our latest terraced townhouse offerings here. Visit our website, contact our Property Advisors, or come see our properties in person. Invest in a sustainable future with DUVAL, where community development and environmental responsibility meet innovative real estate solutions.

Changing tax treatment for new builds and second-hand property

Interest deductibility

 

What is interest deductibility?

Interest deductibility is the mortgage interest you can deduct from your rental income when it comes time to work out how much tax you must pay.  This area of accounting can get complex so it’s a good idea to work with a professional.

The previous government removed interest deductibility for second-hand properties held for investment to incentivise investors to purchase a new home, increasing the rental stock and providing more homes for renters. The thinking behind this, was that the more investors who buy new homes, meant that more developers would build them.

With less interest able to be deducted on second-hand property, these landlords would have more tax to pay. Our view at DUVAL Property Group is that this was implemented to make it financially difficult for investors in second hand property to retain their property and to skew the tax system to encourage them to sell so that their older property would be recycled into the market and available for home buyers.

So, while things were financially tougher for property investors who owned second-hand homes, you could still deduct 100% of your interest bill for an investment property qualified as a “new build” if the property was completed on or after 27 March 2020.

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So, what's changed with the new government?

 

Well not much immediately. From the 1st of April 2024, you still can’t deduct 20% of your interest cost from your taxable income. In real terms assuming a 7% interest rate on a $600,000 mortgage, your interest bill will be $42,000 and that means you are left with $8,400 of interest which is still not deductible. Ouch!

If you wait another year to buy a second-hand property, from the 1st of April 2025, full interest deductibility is returned and the tax treatment for interest deductibility is the same for a new build or a second-hand property. This gives you only 20 months of certainty as a second-hand home investor before the expected date of the next general election which is expected in December 2026.

How much do you trust the politicians of tomorrow?

 

For most of the investors we come across, they prefer certainty of tax treatment for new builds. One thing we can be confident of is that we will have another Labour government at some point in the future and interest deductibility will likely become a hot topic again. Our view is that this presents a substantial future risk for investors in second-hand property, as no one wants to rely on the politicians of tomorrow when it comes to their financial future.

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Have a good accountant

 

As a property investor it is important that you have a good accountant, especially if you are starting out on your property investment journey. While it makes sense to invest in new build property to avoid the political hot potato of interest deductibility, it is also important to ensure that you properly calculate what else you can legally deduct to minimise your tax. With a new build or second-hand property, you can deduct your body corporate costs, the rates for the property along with payments to property managers who collect rent, maintain your rental, or find tenants for you. Fees paid to your accountant for managing accounts, preparing tax returns and advice are also tax deductible and so are your legal fees as it relates to buying the property.

 

Depreciation chattels and furniture

 

What is depreciation?

Depreciation is what happens when an asset loses value over time. A carpet for instance, gradually depreciates from its original purchase price down to $0 as it moves through its productive life.

There are techniques for measuring the declining value of assets and showing it in your financial statements. This area of accounting can get complex so it’s a good idea to work with a professional.

While you haven’t been able to depreciate residential investment property since 2011, you are still able to depreciate the investment properties chattels. This is sometimes overlooked by property investors, yet we believe it is an important deduction to legally minimise your tax. The difficult part for second hand property is establishing a value of the chattels which is why having the chattels valued is essential. It is a lot simpler with a new property, although we recommend that having a specialist undertake a chattels valuation gives you peace of mind. With a brand-new home, the chattels value will likely be higher than for a second-hand property and therefore you are often able to make larger deductions to reduce your tax.

The same thing applies for furniture in your investment property. New builds often have the option for you to purchase a furniture pack and the value of this can often be provided by the developer and is able to be depreciated. We do this for all property investors who purchase a DUVAL home.

 

Future landlord

 

Our view is that it is important to consider the above, even if you are looking at buying a property as your home. Often home buyers choose to start their investment journey by keeping their home and renting it out when they move to their next home. Ensuring that you have “future proofed” for tax as much as you can is a sensible option.

 

None of the above is tax, accounting, legal or financial advice and is provided for general information purposes and is an opinion piece. We believe that having the right professional team able to advise you as a property investor is fundamental to your long-term success. Please get the right advice.

Investing in Townhouses in Auckland, NZ: A Savvy Real Estate Move

In the bustling real estate market of Auckland, the quest for profitable investment opportunities leads many to the appealing segment of townhouses. As the demand for comfortable, yet affordable living spaces continues to rise, investing in townhouses in Auckland not only offers promising returns but also provides the stability many are seeking in today’s economic climate. So, whether you're a seasoned investor or considering your first real estate investment in New Zealand's largest city, understanding the dynamics of Auckland’s townhouse market is crucial.

 

Why Townhouses in Auckland?

 

Affordability and Demand: Auckland, a hub of commerce and lifestyle in New Zealand, has seen continuous growth in its population. This has spiked the demand for residential properties, particularly for townhouses which blend the allure of a suburban lifestyle with urban conveniences. Given their relative affordability compared to standalone houses for sale in Auckland, townhouses present a less prohibitive entry point for first home buyers and investors alike.

 

 

Ideal for Diverse Market Needs: The Auckland real estate market caters to a spectrum of buyers. Townhouses in residential neighbourhoods offer excellent amenities without the sprawling size that makes standalone homes daunting for small families or professional couples. Especially for those looking into their first home buyer option in Auckland, townhouses offer a practical choice blending affordability, space, and location.

Location, Location, Location: Investing in properties situated in prime locations around Auckland can yield substantial long-term benefits. With the city’s extensive public transport network and amenities, areas close to schools, parks, and shops are particularly popular. Properties in such areas, including townhouses or newly erected multi-unit developments, are highly sought after.

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The Investment Outlook

 

Property Prices Auckland: Investing in Auckland offers potential for significant returns due to its consistent property price appreciation, fuelled by a growing population and limited housing supply, making it an attractive long-term investment opportunity in a stable market.

Long-term Appreciation: Real estate in Auckland has historically appreciated over time, making it a wise choice for those looking into securing long-term investments. Key indicators from the Auckland property market suggest that well-chosen real estate investments, such as strategically located townhouses, continue to appreciate, thereby securing the investor's capital and potential for future growth.

Strategic Positioning: Townhouses in Auckland offer investors the advantage of strategic positioning within the city's evolving landscape, providing access to vibrant urban centres, employment hubs, and lifestyle amenities. Their location within sought-after neighbourhoods enhances their attractiveness to both tenants and potential buyers, fostering steady rental income and potential for capital appreciation over time.

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Tips for Prospective Investors

 

Engage with a Real Estate Professional in Auckland: Having a knowledgeable real estate professional who understands the nuances of the Auckland market can be immensely beneficial. They can provide insight into different neighbourhoods, upcoming developments, and the general landscape of townhouse investments. At DUVAL, we have our team on hand to answer any of your real estate investment questions. Click here to make a time to chat.

Use a New Zealand Mortgage Broker: Before finalising any investment, it’s prudent to understand your financials thoroughly. Utilise Mortgage Brokers to ascertain potential mortgage payments and assess your investment capacity. We have the connections to put you in touch with an amazing Mortgage Broker to help you through the process.

Research and Visit Open Homes Auckland: Part of due diligence is physically visiting locations, attending open homes, and assessing the property's condition and its neighbourhood. This firsthand experience can be invaluable. At DUVAL, we have sales offices on our sites for your convenience. Click here to book a time to meet one of our Salespeople there.

Stay Informed: Keep abreast of the latest news and trends in the Auckland real estate market. Regularly Check updates on market conditions, investment tips, and economic factors affecting real estate.

Investing in townhouses in Auckland is not just about buying a property but making informed decisions that align with both market trends and personal financial goals. With the right approach and thorough research, townhouses in Auckland can be both a lucrative and a sensible investment in one of New Zealand’s most dynamic markets.

Official Cash Rate Stays Stagnant at 5.5% - What does this mean?

The Reserve Bank of New Zealand decided yesterday to hold the Official Cash Rate (OCR) at 5.5%. This means interest rates will stay relatively high for now. This helps control inflation by discouraging borrowing and spending, aiming to cool down the economy and bring inflation back to the target range.

Here's a breakdown of what's happening in New Zealand's economy, focusing on inflation:

1. Recent progress: Good news! Inflation (the increase in prices) is gradually dropping closer to the target range (1-3%). This is partly due to:

    • Less demand: People and businesses are spending less as the global economy weakens.
    • More supply: The labor market has become less tight, meaning businesses can find workers more easily.

2. Challenges remain: However, inflation is still above the ideal range. This means things are still getting a bit more expensive overall, even though the rate of increase is slowing down.

3. Looking ahead: There are still uncertainties that could affect inflation, including:

    • Global slowdown: The weak global economy could continue to impact New Zealand.
    • China's economy: If China's economic problems worsen, it could further affect global trade and prices.

4. The Reserve Bank will continue to monitor the situation and adjust policies as needed to keep inflation under control.

RBNZ OCR Decision Today: Potential Impact on Mortgages in New Zealand

With the rising cost of living and a challenging housing market, achieving the dream of homeownership might seem daunting for many young Kiwis. However, innovative strategies and a changing landscape are offering new pathways for first-home buyers to get their foot on the property ladder. Here's a look at some emerging trends:

Investment Properties as a Stepping Stone

While purchasing a home to live in is traditionally the first step, many first-home buyers are opting for smaller, more affordable investment properties in less expensive locations. This strategy allows them to enter the market, build equity, and potentially leverage that equity to purchase a primary residence later on. News outlets like Stuff.co.nz have highlighted this trend, demonstrating the adaptability of first-time buyers in the current market.

Family Finance: The Rise of the "Bank of Mum and Dad"

With increasing house prices, many first-home buyers are getting a helping hand from parents or other family members. This support can come in various forms:

Gifted deposit: Family members can help with a chunk of the down payment.

Guarantors: Parents might act as guarantors, allowing their children to secure a larger mortgage.

Family trusts: More complex options, like establishing family trusts that invest in property, can provide long-term benefits for younger generations.

Teaming Up: Buying with Friends

Rising prices have led to another emerging trend – first-home buyers teaming up with friends or even siblings to co-purchase a property. By pooling their resources and sharing ownership, this strategy can make homeownership achievable. Just be sure to seek legal advice for a clear agreement outlining ownership shares and exit strategies.

Advantages of New and Off-the-Plan Builds

Purchasing a new-build or off-the-plan property offers several benefits for first-home buyers:

Lower deposits: Often, these properties require lower deposits compared to existing homes.

Greater borrowing capacity: You might be able to borrow more based on the expected future value of the property.

Shorter bright-line test: New-builds are often subject to shorter bright-line test periods, potentially reducing tax burdens if you sell within a few years.

Potential Impact of New Zealand Government Policies

The recent change in government could lead to further policy shifts influencing first-home buyers. Potential changes being discussed in the media include:

Increased support for first-home purchase schemes: This could expand existing programs or introduce new ones.

Tax reforms: These could potentially target property investors and create a more favorable environment for owner-occupiers.

It's Not Impossible: You Can Still Get on the Ladder

The path to homeownership might look different today, but with creativity, support from those around you, and a willingness to adapt, it's still within reach. It's about finding the strategy that works best for your situation.

Important: For personalised guidance regarding mortgages, grants, and financial assistance schemes, be sure to consult with a qualified mortgage broker or financial advisor. Stay informed about government policy changes by visiting official websites and following reputable news sources within New Zealand.

The path to owning your own home might require outside-the-box thinking, but remember – where there's a will, there's always a way!.

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.

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