PHOTO: KEVIN STENT/STUFF Don’t be seduced by low home loan interest rates, warns Generation Homes exec Kevin Atkinson, especially if you’re a first time buyer.
With the Reserve Bank cutting the official interest rate to just 1 per cent , and banks following suit, we are seeing the lowest home loan interest rates ever to emerge.
But what was once known as the ‘quarter acre dream’ may not be the same dream that today’s generation is chasing. You might envision owning a five-bedroom house in central Auckland surrounded by city life, or you could be chasing a three-storey home on the beachfront at the Bay of Plenty.
No matter what your ‘quarter-acre dream’ is in this day and age, you need to take a step back and plan how you will get there. If you try to jump to the top rung of the ladder in your first go, you’re almost guaranteed to fall.
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