A Guide to Buying Well in Auckland


Lately it seems we’re reminded on an almost daily basis that the Auckland property market is ‘in crisis’ which can make searching for a house challenging and at times overwhelming. Regardless of whether the market is going up or down there are always good first houses to buy, but it’s best to be clear about what is going to provide the best value before you make a start.

You may be in full-on saving mode and a way off searching for your first home, or you may be getting as close as we are at The Ownery. Either way, here are the 5 criteria we’re using for our search for the first Ownery house in Auckland, which you might find useful when the time comes to start your own search:

1. Locations that are well positioned for future growth.

In Auckland this will be areas such as greenfield locations such as Albany, Ormiston and Papakura as well as brownfield locations such as Panmure, New Windsor and East Tamaki.

2. Houses that are close to community and public amenities.

  • Schools
  • Public transport
  • Shopping centres

3. Houses with a larger land component typically experience better growth.

Land has a habit of increasing over time, more so than improvements to a house, so search for properties where the land value is good relative to the house or where a smaller house has been built on a larger piece of land.

4. Houses that are solid but a little bit economically depreciated.

A house that is in good shape and is liveable but not the newest or the flashiest in the street. This is the classic ‘value-add’ approach which sits well with the typical Kiwi DIY attitude to property ownership.  

5. Check that the house is structurally sound.

Make sure it is not going to need a major upgrade such as a re-cladding, re-roofing or painting. Or if it is you can use it in your negotiation, or when calculating your maximum bid when buying.

There is an old adage in real estate, “You make money when you buy the house, not when you sell it.”  Careful consideration at the outset of the ownership process is the key to being able to maximise the capital gain of the property over a long term ownership period.

The Ownery – keeping the Kiwi dream of home ownership alive by changing the way Kiwis save for a house.

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