Buying or Selling a Property
Buying a Property
Buying a property may be one of the biggest decisions you and your family will make in a lifetime. Paying an extra $10,000 for a property may not seem too much in the heat of negotiations but that $10,000 can balloon to $56,000 over a 20 year term @ 9%p.a. Getting independent valuation advice prior to purchase can save you thousands in the future. Whilst not Structural Surveyors, Registered Valuers are trained to highlight potential problems within the building, on the title or within the district plan. Remember, prevention is better than a cure.Selling a Property
You only get one chance to sell a property. Listing too low costs you money, listing too high costs you time, which can also cost you money. Everyone is keen to give you property advice when it comes to selling your home. Agents are experts at selling property but commission selling puts them in a biased position. A Registered Valuer is totally independent and the fee charged is not dependant on the value of the property. You can pay thousands of dollars in commissions, why not pay a few hundred dollars getting professional and independent property advice.Insurance
Insurance Valuations
Inflation and increases in building costs can cause your present cover to be inadequate. Are you covered? Experience has shown that the effects of inflation and changing building costs can cause reinstatement estimates to date significantly. In the event of a total loss you would expect to be able to rebuild. Inadequate cover at the time of a loss can put you in a very awkward position. We provide Insurance Certificates accepted by all brokers and insurance companies.Leasing
Leasing
Leases are not public information and finding comparable evidence can be difficult at negotiation time.Economic Commentary
The current Coronavirus (Covid-19) global outbreak is creating significant economic and financial global ‘headwinds’. As New Zealand is an ‘exporting’ nation, the impact on forestry and the meat industry has been evident, and Tourist numbers have decreased significantly. A drop in New Zealand’s Gross Domestic Product (GDP) is widely expected by economists, with a “recession” now expected in the short to medium term.
Overall the residential property market within the greater Ruapehu and King Country regions continues to follow an upward path that has been noticeable for some time now. Continuing trends include a relative lack of listings with well-presented properties experiencing strong demand, resulting in prices often being above asking and/or subject to multiple offers. Further points of interest include increasing demand for ‘doer-uppers’ or where purchasers can add value i.e. infill housing. Out of town interest continues to keep local purchasers on their toes, while there is relatively strong demand for vacant sections despite building costs often outweighing end value. Interestingly, over the past 24 months the median house price has one again increased in all four centres, with Otorohanga increasing 31.0%, Te Kuiti 26.9%, Taumarunui 29.0% and Ohakune 41.1%.
Overall the residential property market within the greater Ruapehu and King Country regions continues to follow an upward path that has been noticeable for some time now. Continuing trends include a relative lack of listings with well-presented properties experiencing strong demand, resulting in prices often being above asking and/or subject to multiple offers. Further points of interest include increasing demand for ‘doer-uppers’ or where purchasers can add value i.e. infill housing. Out of town interest continues to keep local purchasers on their toes, while there is relatively strong demand for vacant sections despite building costs often outweighing end value. Interestingly, over the past 24 months the median house price has increased in all four centres, with Otorohanga increasing 41.8%, Te Kuiti 36.0%, Taumarunui 31.7% and Ohakune 28.0%.