Is it wise to buy real estate?

[kramvi]

The reason I am asking this question is that someone told me that if in the future one is need of public assistance like payment benefits, and one happens to own a property then the person does not get benefits. Is this true? It doesn't really make sense but I would like to know more.

[Parsley]

WINZ website looking at the criteria for unemployment benefit doesn't mention property ownership in its criteria. But you might want to get specific advice from a benefits adviser on this.

http://www.workandincome.govt.nz/man...benefit-01.htm

[Super_BQ]

Regardless if you own or rent the property, the goal for WINZ gov't assistance is to help the unfortunate to get through hard times. It was never designed to keep those dependant on gov't assistance.

[b&k]

I believe the opposite is true for some benefits. If you have liquid assets, you don't qualify but if that money is in your home then you do.