When thinking about buying a house, the idea of owning a home can bring mixed emotions…

On the one hand, it might give you a feeling of control over your own future.

On the other hand, there are increases in costs like insurances and rates.

On one hand, you will have control of aspects such as décor, repairs and renovation.

On the other hand, you are stuck with the bills for doing that work.

On the one hand, you are repaying a loan on something that you will eventually own outright.

On the other hand, depending on how long you’re in the loan, a major part of that repayment is interest that you do not get back.

On the one hand, owning your own home means that you won’t have to put up with landlords and rent increases.

On the other hand, if you need to get a mortgage, you will have to put up with lenders and increases in interest rates.

On the one hand, home ownership can be seen as a guaranteed ‘savings’ tool.

On the other hand, you’ll need to sell your house or go into debt to access those ‘savings’.

You have many things to consider before deciding if purchasing property is right for you.

If you want to discuss your options, return an email to this address with as many questions as you like!

We do not charge for our time and our services are free.

Tim Oliver is an Authorised Financial Adviser and director of First Mortgages NZ Ltd and Oliver Financial Planning Ltd. The information provided in this article is not intended to constitute advice to any person.

Disclosure statement available on request.