27. Once I'm On The Property Ladder, How Do I Take the Next Step?

Society tells us that getting on the property ladder for the first time is the hardest thing you can do, but no one ever talks about what it's like after that. So today we're answering the question "Once I'm on the property ladder, how do I take the next step?". We hear success stories in the media about owning 5 houses, but what if that's not what we want? Or if we do, how do we actually get there? To complicate it even more, changes in our life stages often come with the pressure to change our living situation - getting married and buying a house, starting a family and up-sizing your property. If you've tackled the first step of buying a home, what does it look like from there? In this episode we discuss all the options. In this episode we cover: How building property equity works The difference between total equity and useable equity Using your home to leverage into an investment property Figuring out how much you could borrow for a further property purchase Things to know about LVRs What debt to income ratios are and why they're important to know The costs involved in upsizing your home Keeping up with the Joneses What to do when things look hard Recent NZ tax changes and what they mean for property owners How to decide between renovating, paying down debt, investing in shares or buying another property How to buy back into a crazy property market Using your home equity to leverage into the share market ...And there's lots more goodness in there, so get listening now. Check out our website and show notes at www.itsnosecret.co.nz/26 If you enjoyed today's show, we'd LOVE for you to rate & review it on Apple Podcasts and share your favourite episode with a friend. SUBSCRIBE to It's No Secret, wherever you listen to podcasts and never miss an episode: Apple Podcasts - Spotify Follow us for fun chat & financial tidbits on IG: @itsnosecretnz Got questions? Get in touch: www.itsnosecret.co.nz Disclaimer: Investing involves risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time. The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice. Any information we provide is general only and current at the time of writing. Kernel Wealth Limited is the manager and issuer of the Kernel KiwiSaver Plan and Kernel Funds scheme. The Product Disclosure Statements are available at www.kernelwealth.co.nz