General
More on Leaky Homes
Increasingly Banks are aware of potential Leaky Homes and so it pays to be sure when buying. This press release was issued by the NZ Building Industry Federation.
Increasingly Banks are aware of potential Leaky Homes and so it pays to be sure when buying. This press release was issued by the NZ Building Industry Federation.
Home owners, local authorities and the Government should take special care to avoid overblown estimates of the extent of problems and costs associated with the repair of residential structures in which leaks have been identified says the Building Industry Federation.
“There are increasing anecdotal tales within the industry of excessive repair work being recommended at costs beyond that which should be considered reasonable,” said Chief Executive Bruce Kohn in a statement issued today.
“A comparison might be that detection of a leak in a house or apartment block does not automatically mean there should be a complete re-cladding or structural rebuild any more than detection of a freckle on an arm is indicative of an automatic requirement for cancer surgery.
“This is an area ripe for hit and run cowboy activities. Many unfortunate home owners who have identified a leak in their properties are elderly, young or have little expert knowledge. They are reliant on sound advice from experts and need to ensure that those they turn to are well qualified for the task and have a proven track record.”
“Similarly local authorities and the Government in any authorisation of remedial payouts need to be sure that talk of a need for large scale and expensive repair work is justified. It is also reasonable to confine ratepayer or taxpayer payouts to remedial work, not enhancement of the structure. Tauranga’s former MP and builder Bob Clarkson is on the mark in drawing attention to this aspect.”
“Home owners can check in with the New Zealand Institute of Building Surveyors who carry out inspections and can probe identified leaks. Reputable builders can be found through the Registered Master Builders’ Federation or the Certified Builders’ Association of New Zealand.” This is very much a “buyers beware’ situation in which there are reputable and well qualified experts available, along with opportunists.
“Potential for major structural damage to have already occurred should not be underestimated. But nor should the prospect be dismissed that the leak is a defect that can quickly be remedied at comparatively low cost.”
That’s the release, as usual it pays to get any property professionally inspected. Thermal Imaging usually picks up the leak, buyer beware indeed, good luck. Jeff Royle November 2009.
General
Growing Economy Increases Housing Demand
Auckland is New Zealand’s economic hub and with our economy set to continue to grow over the next couple of years demand for housing in Auckland will remain high. Property values in New Zealand have increased by more than 25 percent in 3 years and NZHerald also reports Auckland’s the median house has risen by 46.5% however there are investors buying Auckland residential property for less than market value.
Auckland is New Zealand’s economic hub and with our economy set to continue to grow over the next couple of years demand for housing in Auckland will remain high.
Property values in New Zealand have increased by more than 25 percent in 3 years and NZHerald also reports Auckland’s the median house has risen by 46.5% however there are investors buying Auckland residential property for less than market value.
For some investors in the Auckland property market the highly profitable property deals are apparently still out there. PropertyTutors mentoring clients have continued to buy residential property below market value in 2015. This month alone Lauren a new investor under the guidance of mentor Sean Wood bought two properties in 24 hours for less than the market price who would have thought it possible?
Also with demand for property at an all time high, investors like James and Elliot are managing to sell their properties whilst they’re still renovating them. This lowers the investor’s costs as there are no property marketing or listing fees.
Head of Trade Me Property Nigel Jeffries says the latest Property Price Index showed that while the average asking price in Auckland has risen by 20 per cent in the last year, small houses (1-2 bedrooms) had increased 24 per cent and apartments were up a “staggering” 49 per cent in a year.
Trade Me Sales Price Index
As long as our economy continues to grow, demand for Auckland housing in all its forms will be strong.
This blog article was written for PropertyBlogs by Mobilize Mail.
General
Nelson – Hot Location For Lifestyle
Baby boomers particularly those currently living in Auckland may be setting their sights on Nelson and who would blame them. Nelson offers the perfect lifestyle with a mediterranean climate, idyllic nature walks, sandy beaches, culinary delights and of course it’s one the cultural arts capitals of New Zealand too.
Baby boomers particularly those currently living in Auckland may be setting their sights on Nelson and who would blame them. Nelson offers the perfect lifestyle with a mediterranean climate, idyllic nature walks, sandy beaches, culinary delights and of course it’s one the cultural arts capitals of New Zealand too.
The house and land packages in Nelson are really too good to be true. Imagine selling your property in Auckland, capitalising on the high property values, and securing a better lifestyle in a brand new home (mortgage free) in one of the safest and friendliest places in the world! This was once a move only the wealthy could afford. Now it’s a reality for so many Aucklanders thanks to the buoyant property market.
The latest annual property sales report showed an increase in property values of 17 percent for Auckland. The average asking price for a property in Auckland starts at seven hundred and fifty thousand dollars, while in Nelson brand new home and land for sale deals start from two hundred and fifty thousand dollars.
Nelson is out of the spotlight and flying under the radar right now, but it may not last for much longer. The property market is on the move in this region with Trade Me Sales Price Index reporting property values up by over six percent during the last property sales season.
Aucklanders in their middle to late years of life will be questioning their current position. They will want to time their move so they can cash in their property equity to create a better lifestyle somewhere else; probably in New Zealand’s answer to the Med – Nelson!
This blog article was written for PropertyBlogs by Mobilize Mail.
General
Weekend Renters Trash Family Home
What can go possibly go wrong renting out your home for short term stays via a very reputable and popular online travel website? For most homeowners it all works out really well. However for this young Canadian couple it went horribly wrong.
What can go possibly go wrong renting out your home for short term stays via a very reputable and popular online travel website? For most homeowners it all works out really well. However for this young Canadian couple it went horribly wrong.
On NZHerald it was reported the young Canadian couple found out just how bad things can get when they rented out their home for a weekend. While the $875 rent was really attractive and it’s the reason so many other homeowners use the travel website Airbnb to rent out their properties on short stays, for this couple it was too good to be true.
An early txt message from a neighbour on Monday morning suggested not all was well at their home. Their weekend renters had well and truly trashed their home and caused $80,482 worth of damage to the property. Could this have been avoided? Well not entirely but like a goods trading site e.g. TradeMe where sellers and buyers build up a reputation for their trading activities the same applies on sites like Airbnb. Therefore as a renter or landlord you can review the feedback on the interested parties and make your selection based on it. It is unclear whether the Canadian couple took this action.
‘Caveat Emptor’ (buyer beware) is the lesson here – always do your due diligence on anyone interested in renting your property.
This blog article was written for PropertyBlogs by Mobilize Mail.
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