In this episode, we discuss whether you should pay off your personal mortgage entirely before you start investing in nz property. In short, the answer is generally no. The reason is multi-fold:
- If you wait till you have paid off your mortgage entirely you won't have as long in the property market because you may have to wait, 10, 20 or 30 years before you get started – and the most important factor in the property market is the time spent in the market
- Investment property can, in fact be used to pay off your mortgage faster, and in the show, Andrew runs through the scenario of whether it is better to invest $50 a week in an investment property, or paying down your personal mortgage further.
The Property Academy Podcast