Buying a House in New Zealand
Most New Zealanders' goal is to own their piece of land and they usually achieve this. Buying a house in New Zealand is a relatively uncomplicated and speedy process that takes place in a well-legislated environment, which protects both the vendor and buyer.
The range of properties to choose from is enormous and for those seeking the lifestyle of their dreams, it is quite possible that they will find it. City housing ranges from modern apartment blocks to recently refurbished buildings that have been converted into apartments, to delightful wooden villas, many recently restored, to modern shapes of glass and concrete that embrace the New Zealand lifestyle. Very popular are lifestyle rural blocks with custom-built homes on ten acres or more.
Houses are mainly stand alone, have plenty of privacy, lots of room and often each is as different from its neighbour as possible. Gardens, barbeque areas and swimming pools abound and some lucky people have riparian rights with their yacht moored at the bottom of their garden. Otherwise the boat may be in the middle of construction on the front lawn! Houses are usually set back well away from the road and the separate letterbox is at the front gate.
Building materials vary and although most homes are insulated, they don't usually have double-glazing or central heating. Open fires, wood burners, gas and electricity are the main forms of heating.
Prices vary depending on the area, with Auckland city more expensive than Wellington . Find out as much as possible about an area before you buy. Is it close to schools, shops, and public transport? Is it a reasonable distance to travel to work, as the peak times can be very congested?
Do not be pressured by real estate agents who are very keen to make a sale. The market can be very competitive which means you will usually be well looked after if you are a genuine buyer. Ask to see prices of recent properties for sale in the area you have chosen. Study the papers, especially the property sections on Wednesday and Saturday or the Classified Advertisements and real estate agents' windows. There are also plenty of free publications available to guide you. National listings are available through The Real Estate Institute that also provides an up-to-date survey of mortgage interest rates.
Although it is not a legal requirement, many house buyers prefer to employ a lawyer to assist with their purchase. A lawyer will guide you through the sales process and protect your interests. Their services generally include:
- helping you to negotiate the purchase and price with the owners
- a 'title search' to make sure that there are no legal problems
- checking the contract
- advising you if there are any factors like tax that may affect you
- drawing up the documents to transfer ownership
- arranging the settlement
- letting you know your rights.
Conveyancers who specialise in private sales and real estate agents also provide these services.
