For many homeowners, upgrading follows what feels like a familiar path.
Sell the current home, use the equity as a deposit, then move into the next one.
It's the approach most people expect.
But it's no longer the only option.
Buying your first home is exciting, but one of the biggest decisions you'll make comes before you even start house hunting.
Do you buy a brand new home, or an existing one?
Both options have their advantages. The right choice depends on your budget, your lifestyle and what matters most to you over the long term.
In this week's update, I'll walk through the pros and cons of each so you can make a more informed decision before taking
the next step.
On the 8th of July the Reserve Bank of New Zealand lifted the Official Cash Rate (OCR) by 25 basis points to 2.50%, the first move in what looks set to be a gradual tightening cycle. The decision was reached by consensus, and while markets had largely picked a hike, a number of economists had backed a hold right up to the announcement.
Finding your next home should be exciting. Instead, many homeowners find themselves caught between wanting to secure the perfect property and worrying about what happens if their current home hasn't sold yet.