Buying Property in ChCh - can we buy as soon as we arrive?
#16
Re: Buying Property in ChCh - can we buy as soon as we arrive?
I can't answer your question directly but I would warn that the property market and processes are quite different here to the uk. Coupled with the unique circs of ChCh, I would do your research thoroughly and don't rush. If anything, from what I understand, the ChCh market is super-inflated at the moment so be very careful.
#17
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Joined: Dec 2012
Posts: 73
Re: Buying Property in ChCh - can we buy as soon as we arrive?
not sure that but from reading this
http://www.enz.org/getting-a-mortgage.html
if you don't have PR then you will be required to stump up a bigger deposit.
Personally I would wait sometime before buying to make sure you know what area is best for you and yours
http://www.enz.org/getting-a-mortgage.html
if you don't have PR then you will be required to stump up a bigger deposit.
Personally I would wait sometime before buying to make sure you know what area is best for you and yours
Another consideration I am concerned about is the issue of contents insurance. I read a while ago that insurers weren't offering new business, is this still the case?
Also, I have to ask - with all this controversy surrounding the quakes, what is it that keeps people settling in ChCh? Part of me is concerned that a move there would be foolish in terms of risk to family and our home if there was another massive quake. But then I still feel the pull of everything ChCh will offer us - career opportunity for my husband etc.
In a way, my heart is already there!
#18
Re: Buying Property in ChCh - can we buy as soon as we arrive?
If you look over the Waimak, as far as I am aware none of the land west of Kaiapoi is in any TC category, so no worries there.
I have heard of people getting insurance now. Our house insurance and contents insurance are separate policies and our contents policy has not even gone up much (our building policy has) BUT to be honest for the size of house we have here, it's STILL cheaper than my house policy was five years ago in the UK on a cheaper house.
There are some interesting areas north of the Waimak - you can either stay in the town and live in Rangiora but sadly the town centre is quite impacted last year by earthquake closures of major shops and it looks quite sad, not as thriving as it was. There are other tiny communities too, we live in one, and I find it interesting, peaceful and spacious.
Given the fact that it is not just ChCh house prices that are rising in NZ, and that NZ is pretty well cushioned from international housing boom/bust trends, I think if you wait another year, you will be spending dead money on rent. Also rents here in ChCh are pretty phenomenal at the moment as there is not enough housing for people who lost their homes. Even written off/badly damaged houses with cracked foundations have found their way into the rental market. We have many examples at work of people paying rents now that make your eyes water.....
About them quakes - Wellington sits right on top of a fault with numerous non-code office buildings downtown. It doesn't seem to be stopping anyone moving there. Although I wouldn't!!!!!
Jan
I have heard of people getting insurance now. Our house insurance and contents insurance are separate policies and our contents policy has not even gone up much (our building policy has) BUT to be honest for the size of house we have here, it's STILL cheaper than my house policy was five years ago in the UK on a cheaper house.
There are some interesting areas north of the Waimak - you can either stay in the town and live in Rangiora but sadly the town centre is quite impacted last year by earthquake closures of major shops and it looks quite sad, not as thriving as it was. There are other tiny communities too, we live in one, and I find it interesting, peaceful and spacious.
Given the fact that it is not just ChCh house prices that are rising in NZ, and that NZ is pretty well cushioned from international housing boom/bust trends, I think if you wait another year, you will be spending dead money on rent. Also rents here in ChCh are pretty phenomenal at the moment as there is not enough housing for people who lost their homes. Even written off/badly damaged houses with cracked foundations have found their way into the rental market. We have many examples at work of people paying rents now that make your eyes water.....
About them quakes - Wellington sits right on top of a fault with numerous non-code office buildings downtown. It doesn't seem to be stopping anyone moving there. Although I wouldn't!!!!!
Jan
Last edited by Jan n Neil; Feb 8th 2013 at 5:45 pm.
#19
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Joined: Dec 2012
Posts: 73
Re: Buying Property in ChCh - can we buy as soon as we arrive?
If you look over the Waimak, as far as I am aware none of the land west of Kaiapoi is in any TC category, so no worries there.
I have heard of people getting insurance now. Our house insurance and contents insurance are separate policies and our contents policy has not even gone up much (our building policy has) BUT to be honest for the size of house we have here, it's STILL cheaper than my house policy was five years ago in the UK on a cheaper house.
There are some interesting areas north of the Waimak - you can either stay in the town and live in Rangiora but sadly the town centre is quite impacted last year by earthquake closures of major shops and it looks quite sad, not as thriving as it was. There are other tiny communities too, we live in one, and I find it interesting, peaceful and spacious.
Given the fact that it is not just ChCh house prices that are rising in NZ, and that NZ is pretty well cushioned from international housing boom/bust trends, I think if you wait another year, you will be spending dead money on rent. Also rents here in ChCh are pretty phenomenal at the moment as there is not enough housing for people who lost their homes. Even written off/badly damaged houses with cracked foundations have found their way into the rental market. We have many examples at work of people paying rents now that make your eyes water.....
About them quakes - Wellington sits right on top of a fault with numerous non-code office buildings downtown. It doesn't seem to be stopping anyone moving there. Although I wouldn't!!!!!
Jan
I have heard of people getting insurance now. Our house insurance and contents insurance are separate policies and our contents policy has not even gone up much (our building policy has) BUT to be honest for the size of house we have here, it's STILL cheaper than my house policy was five years ago in the UK on a cheaper house.
There are some interesting areas north of the Waimak - you can either stay in the town and live in Rangiora but sadly the town centre is quite impacted last year by earthquake closures of major shops and it looks quite sad, not as thriving as it was. There are other tiny communities too, we live in one, and I find it interesting, peaceful and spacious.
Given the fact that it is not just ChCh house prices that are rising in NZ, and that NZ is pretty well cushioned from international housing boom/bust trends, I think if you wait another year, you will be spending dead money on rent. Also rents here in ChCh are pretty phenomenal at the moment as there is not enough housing for people who lost their homes. Even written off/badly damaged houses with cracked foundations have found their way into the rental market. We have many examples at work of people paying rents now that make your eyes water.....
About them quakes - Wellington sits right on top of a fault with numerous non-code office buildings downtown. It doesn't seem to be stopping anyone moving there. Although I wouldn't!!!!!
Jan
I've seen so many lovely homes that we could afford with a relatively small mortgage and that would be half the price of renting.
People talk of the 'process of buying a house' in NZ and how different it is. What do they mean by this? Thanks.
#20
Re: Buying Property in ChCh - can we buy as soon as we arrive?
Thanks! I'm so torn between renting and buying now! Ideally my husband would like us to build something while we rent, but I'm not convinced the build would be expedited in a timely fashion as the rebuild (quite rightly) takes precedence in terms of trades available.
I've seen so many lovely homes that we could afford with a relatively small mortgage and that would be half the price of renting.
People talk of the 'process of buying a house' in NZ and how different it is. What do they mean by this? Thanks.
I've seen so many lovely homes that we could afford with a relatively small mortgage and that would be half the price of renting.
People talk of the 'process of buying a house' in NZ and how different it is. What do they mean by this? Thanks.
http://www.trademe.co.nz/property/re...-557123691.htm
You can still get a bargain in Rangiora
http://www.trademe.co.nz/property/re...-553492500.htm
If you were to build it would cost more than it is worth but you get what you want.
I don't know what "People talk of the 'process of buying a house' in NZ" is referring to in particular, however there doesn't seem to be chains as often people are moving into rentals while they build again, the legal aspect can be really quick, my first house here took 2 weeks, from my offer to moving in! Good luck
#23
Re: Buying Property in ChCh - can we buy as soon as we arrive?
and this one, if you're thinking of building in the Waimakariri Council area http://www.waimakariri.govt.nz/servi.../dwelling.aspx
#24
Re: Buying Property in ChCh - can we buy as soon as we arrive?
and this one, if you're thinking of building in the Waimakariri Council area http://www.waimakariri.govt.nz/servi.../dwelling.aspx
Lovely to see yu.
#26
Re: Buying Property in ChCh - can we buy as soon as we arrive?
Thank you I do look in now and then but rarely comment. Nice to see so many old faithfuls still here being as helpful as ever
#28
Re: Buying Property in ChCh - can we buy as soon as we arrive?
We have just spent the last 18 months renting (not in ChCh) we put what money we have and returned 4.50% on our savings and that cushioned the blow of paying the rent. Just found a nice property and put a bid in last night so fingers crossed. If I had bought straight away I wouldn't have picked the area I'm now wanting to live in. Sooooo glad I rented first but then again I am in Dunedin. It's the first time we have rented longer term but made sense to us.
#29
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Joined: Jan 2009
Location: Whangaparaoa
Posts: 458
Re: Buying Property in ChCh - can we buy as soon as we arrive?
Thanks! I'm so torn between renting and buying now! Ideally my husband would like us to build something while we rent, but I'm not convinced the build would be expedited in a timely fashion as the rebuild (quite rightly) takes precedence in terms of trades available.
I've seen so many lovely homes that we could afford with a relatively small mortgage and that would be half the price of renting.
People talk of the 'process of buying a house' in NZ and how different it is. What do they mean by this? Thanks.
I've seen so many lovely homes that we could afford with a relatively small mortgage and that would be half the price of renting.
People talk of the 'process of buying a house' in NZ and how different it is. What do they mean by this? Thanks.