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Published: June 18, 2025
Hi everyone! I’m Shona, Communications Manager at Velocity Financial. Today, I’m joined by my colleague Suzanna, Client Services Manager in Graham’s Team. We’re here to share our recent experiences of buying a second home in Wellington’s current housing market (early 2025).
How did we both do it?
My partner and I used the equity from our first house to finance our second, while Suzanna and her hubby sold her first house to make her purchase.
We hope our stories offer insight and encouragement to others considering a similar move!
Shona: Our tenancy on a cute rental property in the country was ending (so sad—goodbye local llamas!). But the timing was perfect—low house prices, low interest rates, and plenty of options. We had experience buying and selling and co-own an investment property. With enough equity, we bought our second house together, thanks to our amazing mortgage broker, Manisha.
Suzanna: We always knew our first home wasn’t forever. After four years and several renovations, we started talking about selling. Then, by chance, I found our dream home while browsing Homes.co.nz for a client. I pitched a viewing to my husband, and the rest is history.
Shona: We wanted to put down roots for the next ten years. The market was favourable, and it made sense to buy while prices were low rather than continue renting.
Suzanna: Selling and buying in the same down market made sense. Waiting might’ve limited our options.
Shona: We used equity from our rental and a cash top up for the deposit. Manisha helped us create a sustainable plan, even if interest rates rise.
Suzanna: After a tough month of renovations, we sold our house. The profit and a mortgage made our new home possible.
Shona: Leveraging equity meant no large cash deposit and allowed us to grow our assets. But both properties are with the same bank, so selling one could affect both loans (not ideal). Rising interest rates might require income top-ups, so some stuff to be aware of there.
Suzanna: We made an offer before our house was market-ready. It was stressful, but selling gave us the equity we needed.
Shona: It’s a pleasure to buy in this market! More time, more choice, and lower deposit requirements. I've done it at much crazier times and this felt pretty breezy.
Suzanna: We were lucky to sell quickly and profitably. Buying now gave us more value for money.
Shona: Open homes with kids, emotional ups and downs, slow bank processing—it was tense! But we trusted our advisers and got through it.
Suzanna: Our offer took over a week to be accepted. The sunset clause added pressure, and we had challenges with the agent and vendors.
Shona: We got pre-approval, house hunted for six weeks, and faced delays from the bank. But everything came together just in time for settlement. Phew!! That was thanks to having a mortgage broker on our side to chase and chase the bank!!
Suzanna: We researched the area, made an offer, applied to the bank, renovated our current home, and met all conditions to secure the new property.
Shona: TradeMe.
Suzanna: By chance on Homes.co.nz!
Suzanna: Stressful, emotional, and rewarding. It was bittersweet leaving, but we had a great agent and my Velocity Financial experience helped.
Suzanna: We weren’t actively looking, so it was manageable. We had only two open homes and kept things simple.
Shona: It was a mix of ease and stress. There’s grief in leaving the old house, but joy in the new one. It’s a rollercoaster.
Suzanna: A mix of excitement and sadness. Our first home held many milestones, but our new house is truly our dream home.
Shona: Waiting on the bank was the worst. But seeing my kids’ joy and knowing we made a smart investment was incredibly rewarding.
Suzanna: Selling was tough but fulfilling. We’re proud of our renovations and sale.
Shona: Definately use a mortgage broker, allow extra time for processing, follow professional advice, and budget carefully. Sacrifices now will pay off later.
Suzanna: Go for it! Make a conditional offer and see what happens.
Shona: Have honest money conversations with your adviser and partner, do all your legal due dilligence and an RPA if needed, and invest wisely in renovations. Pay more than the minimum on your mortgage and update your will.
Suzanna: Budget well, pay off debt, and focus renovations on equity-building areas.
Shona: Super proud and grateful. I made smart choices and sacrifices, and they’ve paid off. It’s a privilege to own a home.
Suzanna: Still pinching myself! We achieved our goal and live in our dream home.
Shona: Downsize to a tiny home once the kids leave. I'd love to travel and live flexibly in early retirement.
Suzanna: Hopefully writing a blog about owning our first investment property!
Shona: It hasnt been perfect but I am really proud of my financial journey so far. Long-term investments are worth it. To others I'd say think about your future self, where that person wants to be and make choices that align with that vision.
Suzanna: I’d do it all again. Set goals and work toward them—you never know where you’ll be in five years.
Do you need help securing a second home, or just want to talk about how to go about it? Contact our financial advisers for free personalised advice
This article was written by Shona and peer reviewed by our financial advisory team.
Disclaimer: Shona is not a financial adviser. The above is generalised information that has been peer-reviewed by the Velocity Financial Advisory team. As always, before you make any financial decisions, discuss your situation with an adviser from Velocity Financial, and seek advice from professionals, such as a lawyer and accountant, to find the best solution for your unique situation.
About Shona: Hi, I’m Shona, the communications and marketing support person for Velocity Financial. Designing effective communications in a complex industry such as Finance is a worthy challenge. Finding ways to bridge gaps between complex financial information, and the everyday needs of people trying to navigate that world through informed choices, is something that I relish. I love deciphering and disseminating the expert knowledge and ideas of our clever team, into simple messages that speak directly to our clients, who are hungry for more knowledge and better understanding (like me!). In my outside life, I am a keen photographer and, like others in the team, I have a passion for the outdoors, hiking and mountain biking. I also train in martial arts and have been known to wield a sword on occasion.
Always get professional advice
The information shared in this post is meant to be general guide to support you on your journey. When making important decisions about your finances, we encourage you to seek independent financial advice first, tailored to your unique situation. As well as talking with a financial adviser, make sure you talk to your lawyer and accountant too – together they'll help you find the best solution for your specific situation. Our knowledgeable financial advisers are here to help. Check out our website for the details about our financial advisory services in our disclosures https://www.velocityfinancial.co.nz/disclosure-statement.