14 Thursday <strong>February</strong> <strong>11</strong> <strong>2021</strong> Latest Canterbury news at starnews.co.nz NOR’WEST NEWS RAY WHITE PAPANUI NEWS Maths Geek or Emotional Basket Case? Are you a Math Geek or Emotional Basket Case when it comes to buying? Observations of Buyer Types In my sixteen years in the industry I have certainly seen a wide variety of techniques and methods used by purchasers when looking to buy property. Some more creative or unique than others, some entertaining others just bizarre, some bring tools and devices, gadgets and widgets, some come alone others bring tribes of followers, however the following are the ones seen most often in their extreme; The Math Geek This is the buyer that has researched every statistic, graph, chart and online calculator known to man relating to the property market, they know the medians, the percentages, the over and under’s, the decimal points and the dots of the previous ten years property market. They look at a property purchase like a problem to be solved, if a house has an area of X2 + 4r – 100,000 what is it worth? A theory on a percentage over or under RV (council rating valuation) can often also be clung on to by the math geek buyer like the launch codes to a missile. For those of you who are of the analytical mind set you are probably thinking right now, so – what’s wrong with that? I am not saying that some research is not warranted, in fact I recommend it, however this approach in its extreme will hinder the math focused purchaser as they then discount viewing properties that may well fall in their budget but their stats approach puts them off even looking, or they find something they really like and then submit an offer solely based on their formulas only and often miss out and wonder why. I can tell you now in a city like Christchurch our rating values to purchase prices vary widely, if there was a guaranteed formula then someone would have figured it out. Recent surrounding sales of similar properties in a similar area are a much better indication of value but you still must take into consideration the things that don’t appear in the stats such as Feature Properties orientation to sun, size of the bedrooms, flow of the home, storage, outdoor living aspect and probably to the horror of the math geek purchaser I am even going to say the ‘feel’ of a home. The Emotional Basket Case This buyer has been pouring over home magazines and interior design blogs in their breaks at work and on their devices in the evening, they have boards on Pintrest organised according to rooms in a house and they know what couch they want from Freedom and the duvet cover that will match the curtains for the house they haven’t bought yet. Buying a home for them is an exciting prospect and they look forward to the weekends open homes more than they did their own wedding. This buyer views homes with an eye to nest, never mind that the roof needs replacing and the electrics won’t fly with the insurer – it has a wall they can take out (something strangely people love to say they’ll do, however engineering and the laws of physics often have other things to say about these random wall removals). It is great to have enthusiasm and sure why not enjoy the home buying process, it will be one of the largest purchasers you will ever make. Please however put your practical pants on before committing to an offer and just check that you still have your appropriate due diligence in place. The Apron String Buyers Being a reasonably independent person who left home at 18 and moved cities away from my family for uni I guess I may be being a little unfairly tough on these buyers, but in my view if you need your mum to sign in at open homes for you maybe you aren’t ready to purchase a property yet… No I am not kidding, yes this actually does happen, more often than you think. I get that some people want some help and yep your mum and dad can be these people but home ownership carries a lot of responsibility and a level maturity is needed, not in age but in the confidence required to deal with the purchasing process. By all means, bring your mum if you want to but you sign in, you ask the relevant questions and you pursue your interest in the property. If you need advice too remember your lawyer, broker or bank are who you need to rely on, the legal and lending environments are constantly changing and your mum and dads purchasing experience in 1993 might not still be all that relevant (sorry mum and dad, you can ignore this if you have purchased in post-quake Christchurch as the experience will be relevant). The Combo The most entertaining of the above buyer types is the emotional basket case and math geek couple, as they leave an open home and get in the car I often wonder how their conversation must go as one whips out their calculator app and the other the Resene Summer colour chart. To say that though it is these couples that will likely make the best buying decision, a little emotion tied in with some practicality and rationalism, and maybe a little advice from mum and dad. Vanessa Golightly Licensee Agent & Business Owner 027 664 9292 Stuart Morris Licensee Agent & Auctioneer 027 422 6395 Tracy Thomson Licensee Salesperson 027 440 3035 Claire Morris Licensee Agent & Business Owner 027 662 4822 Katrina Green Operations Manager Property Management 027 606 0030 Estelle Schuurman Property Manager 8 Proctor Street, Papanui Tracy Thomson Olivia Hendry Executive Assistant Joy Coughlan Mortgage Broker 027 223 3572 277 Lyttelton Street, Spreydon Vanessa Golightly Richie Eggelton Property Assistant 21A Gardiners Road, Bishopdale Vanessa Golightly Level 1, 7 Winston Avenue, Papanui Phone (03) 352 0567 | rwpapanui.co.nz | /RayWhitePapanui Morris & Co Limited | Licenced REAA 2008
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