Yes I think it makes sense even better if you can add some value to the home(Paint, upgraded kitchen, bathrooms, etc) i.e make sure to buy with good bones-- brick/roughcast -steel roof, good sun, good location, your far better of paying a few dollars more to secure a much lower maintenance cost going forward etc ... interest to where you are looking to BUY have done many property transactions over the years.
Also, rates are trending downwards go for the sharpest rate you can find ASB offered me 3.85% 2yr + $4550 cash (for 600k debt re-finance)
Also great idea if you only need one room even lookout for 4brd many time not much more in cost but can add several thousand more in income pa ... you could rent 1-2 rooms and airBNB the 3rd-4th
In hindsight I wish I held onto my first property was only 24yrs old build two story 3brd upstairs -2 bed flat underneath back in the early 2000's in Queenstown total loan was only 500k!! look at it now https://homes.co.nz/address/queensto...re-place/1jjLp
Should have just rented out all the rooms and flat would have paid all the out goings and these days the flat would bring in $500-600pw
and instead of paying for a room and rent I could have just paid down the loan ... but young and dumb took a quick 200k Cap gain at auction ..
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