Great news – your pre-approval has come through, which means you’re about to hunt for your dream home. For most New Zealanders, owning a home is a big deal – whether it be a lifestyle block, a simple home in the suburbs or a 10th-storey city apartment – and you want to get as much bang for your buck as you can. For pre approval , you can directly contact to Banks or private lenders or you can contact to mortgage broker in Auckland or other cities. A mortgage broker can approach to bank on behalf of you and prepare all documentation based on banks or lenders lending criteria.
Auckland is New Zealand’s fastest-growing city. Over the next 20 years, the number of people who call Auckland home is expected to grow by just over 30% – almost double Christchurch’s population.
The average price for a property in Auckland has risen exponentially in recent years. Even this year, as the world has grappled with a global pandemic, the median house price in Auckland has increased by 25%. A growing population adds even more demand on a market that is already under immense pressure.
But, when all hope of buying a home in the City of Sails might seem lost, we’re here to tell you that there are some hidden (and affordable!) gems still waiting to be found. Where are they hiding, you ask? First, you need to look in the right suburbs.
Best value suburbs in Auckland for first-home buyers
Location is one of the many things to consider when buying your first home. You might want to be close to work, or at least have easy access to a motorway on-ramp or public transport. Then there’s proximity to schools and other amenities.
Auckland has a total of 55 suburbs, with the median house price ranging between $944,700 and $1,604,250. You likely aren’t looking to purchase a million-dollar first home, so let’s look at Auckland’s top five most affordable suburbs for first-home buyers (based on distance).
Be sure to consider more than just location
It can be easy to get caught up thinking location, location, location, but there are several other factors that you’ll need to consider when you’re scouring the property listings on Trade Me.
Type of home
For some, it’s the traditional white-picket-fence, three-bedroom home that they’re pining for. For others, it’s a DIY-project or a townhouse down a shared driveway with no lawns.
Buyers with a budget of $650,000 could purchase a well-located apartment or terrace home, or they could buy a brand-new build that’s 25km away from the city centre. Define what the perfect home means for you and make a list of your top priorities. This will help you narrow down your search.
What to avoid
As the old saying goes, don’t judge a book by its cover. Buying a house is a big financial investment, so you want to make sure you get it right. That means doing your due diligence to ensure the property is structurally sound, and not a leaky home.
The rise in Auckland house prices has been led by one simple factor – demand exceeds supply. It has become challenging for first-home buyers to find an affordable home in New Zealand’s largest city, but it isn’t impossible if you know where and what to look for. Focus on properties you can afford today, tomorrow and in the future. No one truly knows what house prices will do in the next few years, but with a little planning and some strategic know-how, you can find your dream home in Auckland – without it costing an arm and a leg.