Finding the right house
When buying a house, it’s likely to be one of the largest purchases you will ever make. You’ll will need to talk to your Mortgage Adviser, Lawyer, Valuer, Property Inspector and deal with the Real Estate Agent.
It can be a pretty big deal.
Whether you’re a first time buyer, a property investor, moving up as your family grows, or you’re looking for something smaller now the kids are gone, there’s a lot to think about.
So don’t rush it. Take time to look around. Do your homework. Let us help you work out what you can realistically afford to spend on a mortgage. And the chances are that you’ll end up buying a house that’s right.
In our opinion ‘Buying a House’ is simply part of a plan – a plan to live a purposeful life with meaning and wellness. Whether a home or an investment, property is simply a servant of the plan. In the appendices of this guide you can see what we mean – A total financial plan with property as a cornerstone of lifestyle and/or investment.
So where do you start?
First of all, you should probably take some time to have a good look at the properties that are available in the area that you‘d like to live or invest in. Check out your local property press, trademe.co.nz/property, realestate.co.nz and the real estate sections in the daily newspaper to get an idea of availability and prices.
It’s probably a good idea to come up with a “wish-list” in terms of what you’re really looking for. Write up your list in two columns: e.g. “Must have”, “Nice to have”. New building versus older character? Low maintenance, move in and do nothing versus potential to renovate and add value? How many bedrooms and bathrooms do you need? Do you want a big section with a garden and lots of potential for outdoor living.
Make sure to ask your FoxPlan adviser for advice. If you are buying an investment property – complete an analysis report to determine financial viability.
Look at lots of different properties. Visit open homes and get a feel for different real estate agencies. Maybe even take in an auction or two to get a bit more comfortable with the process.
Understand that different ‘markets’ experience different anomalies, supply and demand can create various roadblocks to your achievement of ‘The Plan’. The patient will prevail.