2 10 [Edition datE] Your guide to Show Homes & New Sections in the Selwyn District Buying your first home Policy changes to the KiwiSaver HomeStart Grant have led to many young people looking to settle in Selwyn where cheaper land makes owning a new home achievable. While many lenders may require a 20% deposit when purchasing a home, a 10% deposit is all that is needed under the Welcome Home Loan Scheme. This deposit may comprise savings, cashed in KiwiSaver funds and a HomeStart grant which is available if a person has paid into KiwiSaver for at least three years. There are two grants available under the HomeStart scheme. If purchasing an existing home, the grant is between $1,000 and $5,000 for each year a person has paid into KiwiSaver, while this figure doubles if purchasing a new home. It means that two partners who have paid into KiwiSaver for five years will have a combined grant of $10,000 for an existing property and $20,000 for new. This explains why so many first home buyers are looking to purchase new though they must be over 18 years, have a combined gross income of less than $130,000 (or for one person less than $85,000) and commit to living in the home for a minimum of six months after settlement. Previous home buyers could qualify for a HomeStart Grant if they no longer own a home and their financial situation has deteriorated due to say a relationship break up, bringing their realisable assets to no more than $100,000 (for Canterbury). First home buyers should also research what is on offer in the market as not all smaller, compact house and land packages are equal. Some building companies have only a small range of plans which might not appeal to the buyer or suit their needs. First home buyers also need to be wary about add-on costs. Extras like fencing, landscaping, exterior hard surfaces and changes to the design specifications, which can increase building costs putting the home out of the buyer’s reach. The quality of fixtures, fittings, appliances and floor area can also vary. In a housing subdivision, there is also likely to be a covenant requiring landscaping to be completed within a certain timeframe which might be before moving in or within six months. Some building companies, like Generation Homes, have addressed these issues, establishing a final build price while offering a well-designed affordable home that will fit within the price range of a first home buyer and also provide quality fixtures and fittings. A stone benchtop, recognised brand appliances, heat pump and complete landscaping from the concrete driveway to the fences, lawn and shrubs, letterbox, clothesline and irrigation system are all part of the package. “We recognised the need for our first home clients to have surety and have developed a package that means they can afford a new home that they will be happy in,” says Evan Beker who along with his wife, Nadja are the joint venture partners of Generation Homes Christchurch.
2 [Edition datE] 11 Show Homes There are many things to think about when you’re considering building a new home, browsing show homes is a fantastic way to get you thinking about practicalities, needs, aesthetics and your wish list! Here are a few considerations to help spark your planning process. What is your exterior style? What kind of homes do you like? Edgy and contemporary, classic elegance, country lodge? Look around and take a mental note of what you are drawn to most. What kind of exterior materials do you like? Would a brick home suit you, or a modern material board? Once you’ve worked out the look you like, research what materials are available and find out about their durability. How will you use your house? Do you do a lot of entertaining? It’s important to most people to have good indoor/outdoor flow and attractive, sheltered outdoor living. Try to imagine your new home in various seasons. Landscaping will be an important part of your project. Look around at other homes and show homes and consider what you like and what you don’t like. Are you a structured formal garden type or do you like a contemporary native style? Start collecting photos from magazines of gardens you admire. Sustainability and future-proofing aren’t just buzz words anymore. It’s very important for your new home to be designed to be environmentally friendly and to take full advantage of natural attributes such as solar energy. Research insulation requirements, solar hot water heating, ventilation options and new technology to ensure you’re getting a home that will be affordable to run. Interior decor is a really exciting part of your project. This is where show homes can really help you get to know current trends, colours, beautiful furnishings and furniture. Collect home magazines as well and make up a folder of interior decors you would love to emulate. Also pause to give thought to architectural components inside. Do you like a raised ceiling? What kind of finishing do top homes use and which styles are you drawn to? Heating is also a consideration. Have a look at what show homes are offering. Kitchens form the heart of the house. Show homes give you insight into the latest styles, materials and storage facilities available. Bathrooms are another big component. They need to be as luxurious as you can make them, so start dreaming. Making your investment work for you. Over 15 years experience in managing investment properties has given us valuable insight into how to maximise returns and minimise stress for our clients. PH: WEB: EML: 0800 RENT HPM horncastle.co.nz email@example.com Our detailed approach to everything from selecting the right tenants to effectively handling rent arrears and maintenance issues, means our customers have real peace of mind knowing their investment is in good hands. Our exceptionally high occupancy rates, make for better returns too. Contact us today to find out how we can add value to your rental investment. ROLLESTON