Hi,
Does anyone know if the finance required to buy land only in NZ differs from buying a property with a house.
Specifically, do you need a similar amount of deposit for land only, or more? less?
Twitter: ajobbins
![]() ![]() ![]() |
|
ajobbins: Hi,
Does anyone know if the finance required to buy land only in NZ differs from buying a property with a house.
Specifically, do you need a similar amount of deposit for land only, or more? less?
ajobbins: Hi,
Does anyone know if the finance required to buy land only in NZ differs from buying a property with a house.
Specifically, do you need a similar amount of deposit for land only, or more? less?
Previously known as psycik
Home Assistant: Gigabyte AMD A8 Brix, Home Assistant with Aeotech ZWave Controller, Raspberry PI, Wemos D1 Mini, Zwave, Shelly Humidity and Temperature sensors
Media:Chromecast v2, ATV4 4k, ATV4, HDHomeRun Dual
Server Host Plex Server 3x3TB, 4x4TB using MergerFS, Samsung 850 evo 512 GB SSD, Proxmox Server with 1xW10, 2xUbuntu 22.04 LTS, Backblaze Backups, usenetprime.com fastmail.com Sharesies Trakt.TV Sharesight
davidcole: Mortgage is a mortgage isn't it? Unless the risk is considered higher (like apartments).
Prolly, worth hitting up a bank, or mortgage broker for some info. It's fairly easy to find stuff about apartments being higher risk (in the eyes of a bank) but couldn't find anything about land only.
mattwnz:davidcole: Mortgage is a mortgage isn't it? Unless the risk is considered higher (like apartments).
Prolly, worth hitting up a bank, or mortgage broker for some info. It's fairly easy to find stuff about apartments being higher risk (in the eyes of a bank) but couldn't find anything about land only.
I would have thought apartments would be less risky, because their value is based on the return you get from renting them out.
Previously known as psycik
Home Assistant: Gigabyte AMD A8 Brix, Home Assistant with Aeotech ZWave Controller, Raspberry PI, Wemos D1 Mini, Zwave, Shelly Humidity and Temperature sensors
Media:Chromecast v2, ATV4 4k, ATV4, HDHomeRun Dual
Server Host Plex Server 3x3TB, 4x4TB using MergerFS, Samsung 850 evo 512 GB SSD, Proxmox Server with 1xW10, 2xUbuntu 22.04 LTS, Backblaze Backups, usenetprime.com fastmail.com Sharesies Trakt.TV Sharesight
davidcole:mattwnz:davidcole: Mortgage is a mortgage isn't it? Unless the risk is considered higher (like apartments).
Prolly, worth hitting up a bank, or mortgage broker for some info. It's fairly easy to find stuff about apartments being higher risk (in the eyes of a bank) but couldn't find anything about land only.
I would have thought apartments would be less risky, because their value is based on the return you get from renting them out.
I'm not sure what the banks' issues are. I think it's to do with the number of apartments being constructed, and that you buy off the plans....rather than buying/selling built apartments.
Twitter: ajobbins
davidcole:mattwnz:davidcole: Mortgage is a mortgage isn't it? Unless the risk is considered higher (like apartments).
Prolly, worth hitting up a bank, or mortgage broker for some info. It's fairly easy to find stuff about apartments being higher risk (in the eyes of a bank) but couldn't find anything about land only.
I would have thought apartments would be less risky, because their value is based on the return you get from renting them out.
I'm not sure what the banks' issues are.? I think it's to do with the number of apartments being constructed, and that you buy off the plans....rather than buying/selling built apartments.
ajobbins:davidcole:mattwnz:davidcole: Mortgage is a mortgage isn't it? Unless the risk is considered higher (like apartments).
Prolly, worth hitting up a bank, or mortgage broker for some info. It's fairly easy to find stuff about apartments being higher risk (in the eyes of a bank) but couldn't find anything about land only.
I would have thought apartments would be less risky, because their value is based on the return you get from renting them out.
I'm not sure what the banks' issues are.? I think it's to do with the number of apartments being constructed, and that you buy off the plans....rather than buying/selling built apartments.
With apartments, my understanding is that because you only have a fraction of the land the building is on (less the higher the building), you don't get the same kind of capital gains, therefore it takes longer to build up equity through increase in property prices.
On that basis, land on the other hand would be the opposite.
I'm thinking something rural (and therefore could rent it out) and quite cheap. One I looked at was under 100k.
Lazy is such an ugly word, I prefer to call it selective participation
mattwnz:
The thing about buying and selling land is that you go have to usually pay CGT on it if you sell it,
---
James Sleeman
I sell lots of stuff for electronic enthusiasts...
davidcole: Mortgage is a mortgage isn't it? Unless the risk is considered higher (like apartments).
Sales Engineer
Snowflake
www.snowflake.com
about.me/nzregs
Twitter: @nzregs
|
![]() ![]() ![]() |