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After reading the [revious comments I believe another question to consider is that if you looking at buying further investments in the future besides this one in New Zealand. When you borrow in the future can you legitimately declare the rental income for this overseas property. Of course there are ways of doing this with low document loans but the rules for these are tightening up considerably.
My suggestion is to consider what impact this NZ purchase may have on the growth of your property portfolio over the medium to long term. This is the same question I pose to any of my clients who are looking to invest in properties outside Australia.
It then begs the question about how clearly do you have a clearly defined property investment plan.
Ian Franklin
http://www.investmentloanoptions.com.au
