You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Our<br />
Real Estate<br />
Every country has its own real estate<br />
signature and New Zealand, whilst<br />
being relatively young by international<br />
standards, has developed a unique<br />
derivation of this. Property, land and<br />
home ownership run deeply through<br />
the Kiwi psyche and these three<br />
elements are contextualized every day<br />
in all media forms.<br />
The New Zealand real estate signature can include<br />
property that reflects our rugged coastal footprint,<br />
a strong social conscience and DIY as second<br />
nature. This translates to dark colours and tactile<br />
materials prevailing in some locations and with some<br />
architects, a history of social housing and a massive<br />
home improvement industry. We’ve developed a<br />
vocabulary that includes ‘first-home purchasers’,<br />
‘investors’, ‘Gen X buyers’ and ‘affordability levels’, but<br />
beneath all of this are some glaring changes.<br />
Home-ownership levels are decreasing, property<br />
prices are rising beyond the reach of many and the<br />
median age for purchasing is now 30 and over. For<br />
most, the remedy appears to be getting comfortable<br />
with high debt levels, families helping out, or<br />
defaulting to a ‘why buy when you can rent?’ scenario.<br />
The dream property in my parents’ time usually had<br />
three bedrooms, a lounge you sat in (I don’t think we<br />
called it entertaining), sun if you were lucky and space<br />
for a vege garden. Today it could be any number of<br />
scenarios.<br />
As a realtor of more than 25 years, I’ve always valued<br />
the coalface perspective you get dealing with people<br />
and their property aspirations – and occasional<br />
disasters. It’s kept me grounded. The winter months<br />
now behind us also remind me that whilst some<br />
members of the community will be able to choose<br />
clean green millennial living and heating, for others<br />
it’s a much simpler set of desires.<br />
Property will always be a driver, for others an anchor:<br />
for me, it’s a business and a love affair.<br />
Points to consider when planning to purchase<br />
your first property:<br />
Save hard, the less you borrow, the less you owe.<br />
Deposits can be hefty.<br />
Take time to do a reasonable amount of due<br />
diligence. Building checks may seem expensive but<br />
they are nothing compared to a leaky home or a<br />
property that has issues.<br />
Stay real and try hard to keep your expectations in<br />
check. Your first home is exactly that. Suburbs such<br />
as Merivale, Fendalton and Cashmere are usually<br />
priced above a first home budget. Accept that this<br />
time around and who knows next time.<br />
Work with people you trust and who have your best<br />
interests at heart! Then away you go!<br />
Lynette McFadden<br />
BUSINESS OWNER HARCOURTS GOLD<br />
HARCOURTS NZ INSPIRATIONAL<br />
WOMEN AMBASSADOR<br />
PAPANUI 352 6166 International Division (+64) 3 662 9811 REDWOOD 352 0352 PARKLANDS 383 <strong>04</strong>06<br />
NEW BRIGHTON 382 0<strong>04</strong>3 GOLD PROPERTY MANAGEMENT 352 6454<br />
FOLLOW US ON
Change language