Affordable Modern New Townhouse
Only 20% deposit maybe required for investors on new build. Tacy Street is the perfect opportunity to add to your investment portfolio.
The gross return is from 5.8% pa based on Quinovic rental assessment of $720 pw and a purchase price of $649,000. Affordable low maintenance three bedroom townhouses placed in its own sanctuary in the heart of Kilbirnie.
Big win for investors - in October 2016 the Reserve Bank of New Zealand announced restrictions to the loan to value ratios that banks are able to extend to. Basically this meant the maximum you can borrow against an owner-occupier property is 80%, and the maximum against any rental property is 60%.
Great news - They did have a few exemptions to the rule, and new-builds, and purchases off the plans have been lucky enough to fall into this category. The exemption means that for owner-occupiers, subject to meeting the banks standard lending criteria, you can extend to borrowing up to 90% of the value of the property. For investors there is a big win with the ability to borrow up to 80% opposed to 60% which would apply for any established rental property.
With high demand for rental properties Terraces on Tacy offers you a solid investment solution. Kilbirnie's location and extensive offerings really hit the spot.
These townhouses compromise of:
• Townhouses offering 3 bedrooms with car pad
• Feature ground floor kitchen and living
• Stage two projected completion date April 2018
The architects have designed these homes to the current NZ Building Code. That means double glazing, fully insulated throughout and more. Style and functionality are bought together using a range of quality materials, European appliances, and designer fittings and fixtures. Buying a pre-build, affordable housing option will give you the kick-start you need.
Pros and cons to apartment investing blog.tommysrentals.co.nz/living-the-high-life