The Star: March 15, 2018

The Star Latest Christchurch news at www.star.kiwi
Thursday March 15 2018 41
FOR SALE
Burnside: 25B Rubens Place
Must be sold: 4 beds, 2 bthrms (ensuite),
2 living rear townhouse with dble garage.
Walk to BSHS. By Negotiation.
Open Sat & Sun 1-1.45 pm
Ref: www.remax.co.nz/RMI10538
NEW LISTING
Fendalton: 60 Memorial Ave
2-Level Townhouse with a touch of Tudor:
“Alexandra Cottage”. Prime school location.
3 dble beds, master down with ensuite/ WIR.
Two living areas. Enchanting as is, or add
your own touch.
Open Sat & Sun 2-2.30 pm
Ref: www.remax.co.nz/RMI10547
UNDER OFFER
Halswell : 7 Checketts Ave
Anxious to Sell: 44 bdrms, 2 bthrms (spa bath).
1 gge + OSP. Easycare section, lots of bang for
your buck! $399,000 (RV$405,000)
Ref: www.remax.co.nz/RMI10544
Hei Hei: 1/8 Glenleith Lane
A Little Gem: Nest or Invest. 2 dble bdrms,
open plan living. Single gge + OSP.
Priced to sell – be quick. By Negotiation.
Open Sun 1-1.30 pm
Ref: www.remax.co.nz/RMI10546
REDUCED
Riccarton: 115 Elizabeth Street
Owner must sell:: 3 beds, in need of TLC.
CHBH & CHGH Zones. Close to Uni.
Offers over $315,000 (RV $340,000).
Open Sat 1-1.30 pm & Sun 12-12.30 pm
Ref: www.remax.co.nz/RMI10543
NEW LISTING
Shirley: 125 Quinns Road
A win/win on Quinns: Terrific 3 bdrm 1990’s
townhouse. Spacious living with cathedral
ceiling. Mostly double glazed.
Absolute value at offers over $390,000.
Open Sat & Sun 3-3.30 pm
Ref: www.remax.co.nz/RMI10548
MORE PROPERTIES ARE
URGENTLY NEEDED!
Trish Lawrence
ph 0800 874 745
INITIAL REALTY LTD
Appears every week in
For more information:
Mike Fulham
P 364 7406
E mike@christchurchstar.co.nz
Licensed Agent
REAA 2008
Home
& Property
While buying your first home can
be a nerve-wracking experience,
buying your second (or third) isn’t
much easier. First home buyers may
face a whole bunch of barriers, but the
stakes can feel pretty high for people
who are looking to upsize, downsize
or just move house due to family
circumstances or job changes.
In many ways, the process is the
same. You need to write your wish list
– where the property is, what size it is
– and think about how much you want
to spend. This is where the buy first or
sell first conundrum comes in, because
it’s much easier to figure out how much
you have to spend if you have already
sold your first property. A property is
only worth what someone is prepared
to pay for it at the time that it’s for sale.
It’s unwise to hedge your bets solely
on an algorithm-generated valuation,
the back-of-an-envelope calculation or
recent rating valuations.
Selling first means you have freed
up any equity and you have a firmer
budget to work with. However, in a
slow market it can mean that you are
left scrambling to find ‘the one’. Even
if you do find the right property, it can
take longer than you might anticipate
to reach settlement on it, which means
you may have an unspecified period
between exiting your last home and
moving into your new one. This can
be particularly tough for people with
children and pets, especially in an area
or at a time of year when there is a lot
of competition for short-term rentals.
If you do sell first, it’s a good idea to try
to negotiate a longer settlement period
to give yourselves a bit more breathing
space. Ask your real estate agent and
lawyer for advice on how to do this for
– because you’re the seller, you get to
set the terms and conditions for your
sale process.
Buying first makes sense in lots of
ways, particularly if your search area
is very defined. If a property that ticks
all the boxes comes on the market it
can be hard to resist the pull of putting
an offer on it. If you decide to go for it,
you’ll need good financial advice and
nerves of steel. If your offer is accepted
you may find yourself in the position of
Home & Property appears
every Thursday, delivered FREE
throughout Christchurch
For more information
and bookings, contact
Mike Fulham
M: 021 300 567
E: mike@starmedia.kiwi
Is it better to buy or sell first?
owning two properties – and having to
service their respective mortgages if the
settlement dates don’t align perfectly.
It can feel like an eternity while you
wait for your first property to sell, and
if the market suddenly slows it can
be tempting to take the first offer you
receive in order to get the place off your
hands.
Before you do anything rash, talk to
your lender or a mortgage broker about
what your options are in this situation.
You are likely to need bridging finance
to cover your offer on the new home –
depending on your circumstances and
the method of sale you may need access
to these funds quite quickly. Be aware
that owning two homes will also have
insurance implications – you will need
both to be covered.
If you are planning to buy first, you
can make the sale of your existing
property a condition of your offer.
While this takes the pressure off, it may
also make your offer less attractive to
a seller. A good compromise may be
to try to negotiate a longer settlement
when you buy the new property, which
will give you more time to sell. Talk to
the real estate agent selling the property
to find out how you can negotiate this
in a way that the seller will be happy
with.
There’s no perfect, one-size-fits-all
solution in this situation. Perhaps the
best advice is that if you are starting to
think about buying it’s a good idea to
get your property and your finances
in order. Talk to your lender or a
mortgage broker and give them an
indication of your plans. Start talking
to real estate agents in your area to
find out what might be coming on the
market, and ask them for an assessment
of demand for a property like yours.
Tackle all those jobs around the house
that have needed doing all year – trim
those overhanging branches, replace
the broken letterbox and repaint the
scratched front door. At the very least
doing this will make it a pleasant place
to live while you figure out your next
move.
For independent advice on buying or
selling property, check out www.reaa.
govt.nz.
Your
Earthquake
damaged
home!
Talk to us if you are serious about
selling your “As is Where is” home.
We have sold over
150 “As is Where is”
homes and we have
a huge database of
qualified buyers.
Phil & Holly Jones
Ph 03-382-2230
Phil 027 435 7711
Holly 027 222 0220
holly.jones@raywhite.com
Licensed (REAA 2008) Results Realty Ltd
The Star has some
fantastic cost-effective
packages available for
people selling their
property themselves.
From only $63+GST you
can have your property
profiled with a photo!
CONTACT:
Vicky Sayers
P 364 7419
E vicky.sayers@
starmedia.kiwi
We have achieved
record breaking
prices recently!
SHOWHOME
NOW OPEN
39 Sherborne St
St Albans
10am-4pm or
by appointment
Christchurch
www.firsthomes.nz
chchsales@firsthomes.nz
021 575 545
your
Selling property
privately?
HALSWELL
Front Unit
2 Dble Bedrooms
This is a secure front
property, permanent
materials, across
from Halswell School,
close to buses, library,
healthcare and shops,
in a great location 15
minutes from central
Christchurch
Contact Brian Davidson
(03) 322 8739 or
021 0293 6712
8809397AA
NEW LISTINGS
Oamaru
WISHING FOR FISHING?
Price: SBD BEO $55,000
Web: HNMGF3 2 1 -
ON TO A WINNER HERE!
HISTORIC HOME WITH VIEWS
THIS PROPERTY + THIS POSITION = VALUE +
Price: SBD BEO $259,000
Price: BEO $415,000
Web: HTBGF3
3 1 1 Price: SBD BEO $385,000
Web: HTFGF3 3 2 1 Web: HFGGF3 3 1 2
SBD BEO = ‘Sale By Deadline Buyer Enquiry Over’
*
LJ Hooker Harveys Group, based on number of transactions
Call Oamaru’s No. 1 Team For Listing & Selling - Ph (03) 434 9014
Robertson Real Estate Ltd MREINZ - Licensed Real Estate Agent REAA 2008
MAIN ROAD SHOP FOR LEASE
Price: $24,000+GST pa
Web: HSZGF3
Check out all our listings at www.oamaru.ljhooker.co.nz | Deal with the Best: LJ Hooker Oamaru - The Most Productive Team in NZ *