"Do your research: use all the data and information that's out there.
"But you also can't beat just going and seeing properties for yourself and tracking what they sell for. Get a feel for what you might value differently to others.
"This can allow you to identify properties that suit your needs and help you score what you’d consider a bargain."
Nick Goodall, head of research, CoreLogic.
Money. It's the driving factor behind many life choices, but is it the be-all and end-all?
'Me and My Money' is a regular feature that investigates Kiwi attitudes towards money and what drives the choices they make.
Newshub spoke to CoreLogic head of research Nick Goodall about the popularity of property as a form of investment. Although there's "plenty of frustration" at some of the difficulties getting onto the property ladder - as well as managing them - desire to own property hasn't fundamentally changed, Goodall says.
Amid current challenges, such as difficulty getting finance and rising interest rates, he suggests first-home buyers keep all their options open, talk to a professional and make sure they're in the right KiwiSaver scheme to support their goals.
When he's not crunching property data or spending time with family, Goodall enjoys watching quality paid content, something he considers is value for money.
1. Are you a saver or a spender?
A spender, but I am conscious of reducing my mortgage debt. I guess increasing equity in an asset is a form of saving.
I don’t think I'm frivolous with my money, but I'm lucky enough to be able to buy things when I need or want.
Luckily, I have pretty basic tastes and affordable habits so my spending nature isn’t too excessive!
2. What's been your biggest financial lesson, success or failure?
Being smarter with the credit card and paying it off each month, so as to avoid interest costs.
Similarly, doing away with the overdraft after university!
Avoiding unnecessary interest payments is a simple way of managing money.
3. Give an example of a recent purchase you consider was value for money
I've got a few content subscriptions: video and news (generally sports), which I think are pretty good value.
With a young family, I don’t feel like I have much time or many fun things to spend money on for myself, but I appreciate good content!
4. What do you know about money now that you wish you'd known sooner?
Not to be afraid to spend a bit more on something up-front that will require less maintenance and ongoing costs.
My first car, a 'cheap' Nissan Skyline, was an absolute money pit, which I'm pretty sure I still haven’t paid my parents back for!
5. A money tip you would give to first-home buyers?
Do your research: use all the data and information that's out there.
But you also can't beat just going and seeing properties for yourself and tracking what they sell for. Get a feel for what you might value differently to others.
This can allow you to identify properties that suit your needs and help you score what you’d consider a bargain.
6. What's your preferred form of investment and why?
I'm all about diversification. Once we've reduced our mortgage, I'm likely to increase my investment in managed funds.
7. Your best saving tip?
Get yourself a goal and track your progress.
As a spreadsheet geek, I believe setting up a budget in excel is a good way of understanding spending habits and helps people stick to their goals.
8. What's the best money advice someone's ever given you?
To start investing.
The barrier to entry is very low these days so get into it as early as possible - KiwiSaver is a great start.
I've also opened up Hatch accounts for each of my kids, who are all under seven.
The views expressed in this article are personal and are not professional financial advice.