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Are you a first home buyer struggling to get onto the property ladder? Do you need a little extra income to help get the finance? If you answered yes, then you need to come and check out this property. There is a 3-bedroom character homestead as well as a separate dwelling consisting of a single garage, 2 bedrooms, bathroom, lounge and kitchen. There is also a small area where a tiny home sits and the owner pays a ground lease. Everything is tenanted and currently returning $1250 total per week.
The owner's instructions are clear, they want this sold. They welcome late settlements which could work in your favour with the bank interest rates looking like they will be easing. To help you see if it is worth it, see example below on what this could cost you.
Based on a purchase price of $720k and a 20% deposit, therefore borrowing $576k. Your repayments each week would be $840.00, but if you kept the house for yourself to live in and kept the other dwelling and ground lease tenanted, then it would only be costing you approx. $190.00. Why wouldn't you have others help pay your mortgage?
Not only will this make a great investment, it would also make a perfect family home with the added bonus of a little extra income if needed or maybe two families buying together as the dwellings are so separate with plenty of room for everyone.
All of this and situated so close to either Paparoa or Maungaturoto.
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