With the central city undergoing massive reconstruction, local businesses reopening and new ones arriving to take advantage of the hive of activity that it has become, Christchurch has turned two earthquakes that were absolute disasters in 2010 and 2011 into huge positives for the city. It seems like more and more people are looking to Canterbury for future potential and investment - even those who have lost homes are refusing to leave, instead choosing to wait and see the end result of a city that has been given a second chance.
This means the property market is slowly picking up speed again. Investors are looking to take advantage of new opportunities and New Zealanders are once again looking to Christchurch as a viable place to live.
For those involved in the rebuild and investing in the city's future, central accommodation is the most appealing. Riccarton, Sydenham and Papanui are all abuzz at the moment, but the plans for the CBD mean that there are plenty looking for inner-city apartments as well. When it comes to buying vs renting an apartment, it pays to be informed before make a decision.
Buying vs Renting
When you're looking at a long-term stay, it can make sense to consider buying rather than just renting. Investing in property always offers rewards - but are you sure that positives really stack up?
What are your plans for the future?
The associated costs and pains of buying property are sometimes just simply not worth it for the short-term. If you aren't planning a long-term stay, you're considering a big future change like marriage or you're just not sure where you might end up in the next two years then you shouldn't be considering buying an apartment.
Do you really want the responsibility?
The great thing about renting is that you aren't fully responsible for property maintenance - you always have a safety net when you choose to rent an apartment.
Cost
Buying a centrally located apartment is rarely affordable and rentals can often make a lot more sense financially.
Flexibility
Buying an apartment is a big decision. You're committed to your purchase and you have to live with the financial ramifications for the rest of your life. Renting gives you a lot more flexibility but, at the same time, you do miss out on the rewards of property investment and the potential for future growth and revenue from a sale.
Consider a property investment carefully, and don't rush into anything too quickly. If you're looking to make the move into Christchurch, consider a rental apartment close to the CBD or the main suburbs.
This means the property market is slowly picking up speed again. Investors are looking to take advantage of new opportunities and New Zealanders are once again looking to Christchurch as a viable place to live.
For those involved in the rebuild and investing in the city's future, central accommodation is the most appealing. Riccarton, Sydenham and Papanui are all abuzz at the moment, but the plans for the CBD mean that there are plenty looking for inner-city apartments as well. When it comes to buying vs renting an apartment, it pays to be informed before make a decision.
Buying vs Renting
When you're looking at a long-term stay, it can make sense to consider buying rather than just renting. Investing in property always offers rewards - but are you sure that positives really stack up?
What are your plans for the future?
The associated costs and pains of buying property are sometimes just simply not worth it for the short-term. If you aren't planning a long-term stay, you're considering a big future change like marriage or you're just not sure where you might end up in the next two years then you shouldn't be considering buying an apartment.
Do you really want the responsibility?
The great thing about renting is that you aren't fully responsible for property maintenance - you always have a safety net when you choose to rent an apartment.
Cost
Buying a centrally located apartment is rarely affordable and rentals can often make a lot more sense financially.
Flexibility
Buying an apartment is a big decision. You're committed to your purchase and you have to live with the financial ramifications for the rest of your life. Renting gives you a lot more flexibility but, at the same time, you do miss out on the rewards of property investment and the potential for future growth and revenue from a sale.
Consider a property investment carefully, and don't rush into anything too quickly. If you're looking to make the move into Christchurch, consider a rental apartment close to the CBD or the main suburbs.
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